Locality Valuation Estimator
Estimate fair value of a property based on locality PSF trends and amenities.
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Formula & Assumptions
Source: Kolkata micro-market data · Effective: 2026-Q1- Locality PSF: average for the micro-market.
- Floor rise: typical ₹25-75/sqft per floor in Kolkata.
- Range: ±8% of fair value.
As of 2026, the average price in New Town Kolkata is approximately ₹8,343 per sqft, with prices ranging from ₹6,000 to ₹10,000 per sqft depending on the specific sector, project quality, and amenities. Action Area I and II command premium rates (₹8,000-12,000/sqft), while newer sectors like Action Area III offer slightly lower rates (₹6,000-8,000/sqft). New Town has appreciated approximately 7% year-on-year.
Based on 2026 data: New Town: ₹8,343/sqft average (range ₹6,000-12,000); Rajarhat (outside New Town): ₹5,500-8,500/sqft; EM Bypass: ₹7,500-10,000/sqft for premium projects; South Kolkata (Jodhpur Park, Ballygunge): ₹8,000-15,000/sqft for premium; Salt Lake: ₹7,000-11,000/sqft; Garia/Behala (affordable): ₹4,000-6,000/sqft. The most expensive is Central Kolkata (Park Street, Alipore) at ₹12,000-25,000/sqft.
Rajarhat New Town shows the strongest appreciation trajectory based on: (1) IT office leasing growing 3.5x in recent years; (2) metro connectivity (Orange Line extension); (3) 4.5 lakh IT professionals driving housing demand; (4) planned infrastructure (roads, parks, commercial hubs); (5) relatively affordable entry point compared to Bengaluru/Hyderabad IT corridors. JLL reports Kolkata's capital values appreciated 13.1% annually in Q2 2026.
Circle rate (also called IGR rate or government rate) is the minimum value set by the West Bengal government for stamp duty calculation. Market rate is the actual transaction price. In Kolkata, market rates are typically 20-50% above circle rates. For example, in New Town, circle rate is approximately ₹5,576/sqft while market rate is ₹8,343/sqft. Stamp duty is paid on whichever is higher. If you buy below circle rate, you still pay stamp duty on the circle rate.
Official sources: (1) WB Registration Department (wbregistration.gov.in) for circle rates and stamp duty; (2) WBRERA portal (rera.wb.gov.in) for project registrations and builder disclosures; (3) Kolkata Municipal Corporation (kmcgov.in) for property tax assessment rates. Market rates are available from: RealtyIQ's locality guides, 99acres price trends, Housing.com, and MagicBricks - always cross-reference multiple sources for accuracy.
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