Month: July 2016

Rental commercial properties in Kolkata are likely to have hike, supported by 20% shoot in transactions

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There is a surprising change in Kolkata’s present commercial property market, where an average deal size commercial property of 7500 sq ft remains the same inert, but for the rented commercial properties, market experts are predicting a straightway march of 5-10% greater value in coming days. During the last two quarters the real estate market has been seeing approx 20% abrupt development in overall transactions. Apparently it’s a slight healthier option to buy commercial property in Kolkata than going for rental condition as per the recent market perceptive.

Going by the expert advice it is foreseen that the rental cost of commercial properties in Kolkata is going to have a rush leap of 5-10% within coming 6 months in major investment areas like Salt Lake Sec-V, Rajarhat, and other commercial line-up of the E.M. Bypass and Topsia area. Whereas the regular deal of 7500 sq feet commercial property is on a lower cascade. Experts say near about 3 lakh sq feet of commercial realty space was taken on rent in the beginning of 2016. People, who think that this flair comes out of the IT industry domination, have to alter their conception regarding the same. This growth is majorly centred on the rapid expansion of home-grown companies. Global IT firms are rather keen on having a giant commercial set-up on lease. Comparing with the other cities Kolkata is much active because of its slowdown policy despite profusion of such dwellers.

Above all the Bengal Govt.’s SEZ policy is real obstacle for IT- software and hardware industries to invest in this state. This has been a crying issue against West Bengal’s economical growth. In 2011 when TMC had been set as the ruling party of Bengal this major lapse in system took place. There is a common speculation on the Govt.’s decision to pull the policy to grant SEZ status to the industry. It would help tenders from Wipro and Infosys to decamp. Wipro has made recently a fresh application for ITIT facilitated services SEZ rambled over 19.8 hectares at Rajarhat. The basic demands for commercial spaces in Kolkata are coming from Banking and financial companies for setting up their regional offices, telecom companies for their customer offices and FMCG companies for their retail units.

7th Pay commission- Realtor are expecting home sales to rise

Real estate industry is hoping to improve property price after the execution of 7th pay commission rule. Prices are currently on a lower stage because of the slowdown in the Indian real estate market. Two top associations of realtors CREDAI and NAREDCO– stated that real estate sector would also profit from sanction of the model law that allows shops, malls, multiplexes among the other concerns to run 24*7 throughout the year. They are expecting according to the 7th pay commission recommendation this initiative will lead to wise investment by the Govt. employees for purchasing residential properties. The current market shows down arrow in real estate price while gold price is ruling the chart, for the stock market is also on the higher octave. Thus realtors are expecting funds to be invested on real estate sector and business will augment accordingly.
A recent real estate research says that there is a great pay hike in Govt pay scale as well as in the pensioners’ scheme; therefore there is a probability of more liquidity in the market which will lead to multiple investments into real market from the sector of Indian Govt. Another important addition to this movement is the approval of Model shops and Establishment Bill. This initiative will increase the employment level and further economic turn over. The people of India will have the more choice to shop anything from anywhere. Thus the sale of shopping malls and retailers will also jump up. This wave won’t just be restricted into the shopping malls, all the online and offline e-commerce sites, property portals, and other trading and service industry are expected to draw optimum profit along with a developing employment factor.
On the whole the retail sector in India specifically the logistic and warehouse dept will positively the get profited in a long run with this working law. In Kolkata property portals that are offering a wholesome residential property sale in Kolkata, will also see higher margin of profit from its virtual consumers, expected by the realtors and other market experts. As per the market graph it’s a correct time to invest on flats in Kolkata.