Kolkata Real Estate Market - An Overview
property market owing to high interest rate and inflation, the city has experienced a considerable rise in property prices over the past 7-8 months. is the 4th most populous city in India. , once the capital of British India, inherits many beautiful traits of British architecture and infrastructure. The “Cultural Capital of India” is now a major hub for Information Technology, Real estate, financial consultancies, travel and tourism and hotel industry. In spite of an overall slowdown in
Real Estate sector in has been dynamic over the past decade and has been climbing up on the growth scale. has undergone a complete transformation in both commercial and residential sector. The commercial sector concentrated mainly on office, hospitality and retail sectors. Meanwhile the residential property in have appreciated considerably in the last few years.
Growth in real estate sector in Kolkata is also because of the following factors:
• Lower land acquisition cost compared to other metros.
• Government’s active involvement in development initiatives
• Lower asset prices
• Availability of scalable infrastructure
Localities in Southern Awan Shah Road. The average per square feet (psf) rate for the city is around 5000/-like , and Elgin Road have appreciated to unprecedented levels. Key factors behind such a steep rise in select localities are the limited availability of real estate options, successful retail and commercial projects and improved connectivity with improved urban road build quality. Top 5 localities in on the basis of maximum real estate action are , , , and