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Kolhapur Real Estate Market Information
It’s not just humans that exhibit indications of regional bias, it’s the case with property rates too! It doesn’t come to us as a surprise for property rates has displayed fawning penchant for escalation in Kolhapur. Since the city is situated pretty close to Mumbai, Kolhapur property rates have been going up significantly in the recent times. It is situated on the shores of the famous river Panchaganga. Kolhapur real estate market offers extensive types of properties ranging from duplexes, 2, 3, 4BHK flats, plots, homes, bungalows, along with massive trade centers, office spaces and commercial complexes.
The property rates in Kolhapur are lower in comparison to rates in Mumbai and neighboring property markets. As a result, the city has been successful in drawing many property buyers who are looking forward to purchasing a property in accordance to their budget, needs, convenience and comfort. A piece of land in Kolhapur costs less than 1/10th of the cost of the same dimension of land in Mumbai.
Since the demand for housing solutions is increasing at a good pace, many potential real estate builders and developers are entering into the market with tons of commercial and residential projects planned on paper. Suraj Estate developers, Naik Navare and Associates, Prestige Developers, Paranjape Schemes and Cybercon Developers are some of most prominent real estate companies operating in Kolhapur, at present.
Upcoming Projects in Kolkapur
There are numerous residential projects coming up in the Kolhapur real estate market, including Royal Nest, Paarijaat Residency, Royal Residency, Royal Court, Srinavasa, Pinnac Prasad & Shiv Shakti Heritage, and Shashi Park, providing a large scale of options to home seekers in the city.
This city is one of the major upcoming IT hubs in modern India, so it has allowed growth of a large number of IT parks at various locations across the city. Some of the major newly created IT parks in the region include Synthesis, Vertex, M & S Royal, Renupooja and Lakeside; all these new IT parks are turning out to be promising grounds for several IT and Software-related companies functioning in the city.
Even MIDC is working on many new projects to set up commercial complexes for the development of textile and IT industries in Kolhapur. Likewise, in the area of Kagal-Hatkangale, a dedicated Silver Zone is also being established in order to use the dedicated workmanship of many local artisans. Other newly constructed commercial properties in this city include Royal Palace, Royal Pride Commercial Complex, G.N. Chambers, and Royal Plaza.
Parshwa Complex, Pinnac Vedanta, Shivneri Plaza, Shri Tuljabhawani Sankul, Pinnac Omkarswarup and Royal Heritage are also of the other good investment opportunities in the Kolhapur property market.
‘Naik Navare’ is one of the best options for those who are looking out for bungalows in the city. Projects that are taken by MIDC leaning towards the development of textile, IT, Silver Parks in Kolhapur include an overall investment of around Rs. 5000 crores. Nearly 80 acres of the Kolhapur property land has been allotted for this purpose, which will be followed by another 100 acres in the near future.
Property Prices in Kolhapur
A 2 BHK 1150 square feet multi-storey apartment in the Kolhapur MIDC area is available at a price of Rs. 35 to 37 Lakhs, which accounts to about Rs. 3,200 per square feet. Whereas, a 2BHK apartment of similar land area located in Pratibhanagar, costs around Rs. 43Lakhs (Rs. 3,700 per square feet of land).
In Rajarampuri area, a 2BHK apartment of 950-1000 square feet has been reported to cost around Rs. 35 Lakhs, priced at about Rs. 3,800 per square feet.
Coming to commercial properties, 10 acres commercial land located in the region of Kadgaon, Kolhapur, is available at a starting price of Rs. 8Crores (Rs. 180+ per square feet). A 10BHK hotel constructed in a total land area of 30000 square feet of 19 acres land sells at an approximate price of Rs. 25 crores+
The Bottom Line
Owing to its extensive resources of jaggery, spices and cuisines, along with textiles, sugar cane and the booming mining industry, Kolhapur real estate market has an ever increasing demand for both commercial, as well as residential properties. Now that several IT parks are also being established in the city, one can expect a sudden surge in the demand of residential property in the markets, which would also lead to a significant increase in land prices.
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