It is safe to say that this is the ideal time to put resources into property in Kolkata?

The tenacity of the end clients to hunt down the ideal home is driving the land current situation now. Inspite of the worldwide financial emergency, national emergency, the end clients of realty are as yet rushing the ventures looking for a flawless home. This pattern is especially noticeable and tangible in Kolkata too. With this present pattern in perspective, the land designers of Kolkata have shed their restraints of getting into ease homes and are open now to put resources into terrains which are even past the limit of the city of Kolkata. Beforehand, this pattern would have drawn much fire, as the working class populace had less choices of driving from suburbia to the focal business region of Kolkata. Not at the present time any longer. For the most recent decade, transportation and correspondence have enhanced in Kolkata more than ever and is likely the main metro city, in India as well as in the whole world, which has the least expensive and a few transportation alternatives from wherever inside its regions or even from the rural regions. The land financial development just gets by on the ease of all the classes of individuals in a general public and what drive them are the base offices. Along these lines, with regards to transportation and correspondence, Kolkata has surpassed the various metros in India and has enhanced numerous folds, clearing route for its land engineers to try and consider building homes in territories which are not near its downtown areas.

Consequently, great homes have mushroomed now in the different rural zones of Kolkata, viz., BT Road (North), Chandpur Champahati (amazing East), Baruipur (South), Howrah (West), with moderate costs keeping in perspective the marsh expense of those ranges, different driving offices, monetary crunch by and large, allowing to anyone to put resources into those territories. Thus, this is presumably the best time to put resources into a Kolkata property. Not just on the grounds that, the costs are low because of the above elements, additionally in light of the fact that even in a financial emergency, property ventures are dependably a more secure choice. The costs and requests for realty never go down and that too in a metro city. Additionally, lately, the Kolkata engineers have taken after the models of Mumbai, Chennai and Bangalore, and have concocted different offers for their properties in particular offering free average sized autos to the initial couple of purchasers, secluded kitchens and free Air-conditioners with pads which are hard to offer because of their outline designs and so on. In this climate, the most elevated number of purchasers that Kolkata is getting is either from the NRI Indians or from individuals who live in close-by urban communities who are making an easy win here. The interest for home in Kolkata is expanding thus. The engineers have found in the previous couple of months, that if the item blend is correct which implies that the area of the property, its outline, its offices and conveniences are great, then any task in Kolkata wherever it is being produced, is getting a relentless stream of purchasers all around the year.

Thus, as expressed above likewise, in the event that you need to put resources into a property and you don’t have a city inclination or your venture impulses are driven by the business sector situation and not by notions, Kolkata is the perfect destination. It has enhanced base, low costs, consistent stream of exchanges all the time and opportunities in abundance to re-offer a property at a superior cost at some point later on. This is in reality, the opportune time and place to contribute. Kolkata is anticipating numerous more arrangements in not so distant future as well. Most likely, the pre-Puja (celebrations) times of August and September will proclaim numerous more financial specialists from various parts of this nation furthermore abroad as the best time is the present time.

Is this the right time to invest in property in Kolkata?

The doggedness of the end users to search for the perfect home is driving the real estate current scenario now. Inspite of the global economic meltdown, national meltdown, the end users of realty are still flocking the projects in search of a perfect home. This trend is very much visible and palpable in Kolkata also.

With this current trend in view, the real estate developers of Kolkata have shed their inhibitions of getting into low cost homes and are open now to invest in lands which are even beyond the boundary of the city of Kolkata.

Previously, this trend would have drawn much flak, as the middle class population had fewer options of commuting from the suburbs to the central business district of Kolkata. Not now anymore.

For the last decade, transportation and communication have improved in Kolkata like never before and is probably the only metro city, not only in India but in the entire world, which has the cheapest and several transportation options from any place within its precincts or even from the suburban areas.

The real estate economic growth only survives on the comfortability of all the classes of people in a society and what drive them are the infrastructure facilities.

So, when it comes to transportation and communication, Kolkata has surpassed all the other metros in India and has improved many folds, paving way for its real estate developers to even think of building homes in areas which are not very close to its city centers.

Hence, very good homes have mushroomed now in the various suburban areas of Kolkata, viz., BT Road (North), Chandpur Champahati (extreme East), Baruipur (South), Howrah (West), with affordable prices keeping in view the low land cost of those areas, various commuting facilities, economic crunch overall, giving a chance to anybody to invest in those areas.

So, this is probably the best time to invest in a Kolkata property. Not only because, the prices are low due to the above factors, also because even in an economic meltdown, property investments are always a safer option.

The prices and demands for realty never go down and that too in a metro city.

Also, in recent times, the Kolkata developers have followed the models of Mumbai, Chennai and Bangalore, and have come up with various offers for their properties namely offering free mid-sized cars to the first few buyers, modular kitchens and free Air-conditioners with flats which are difficult to sell due to their design patterns etc.

In this atmosphere, the highest number of buyers that Kolkata is getting is either from the NRI Indians or from people who reside in nearby cities who are making a safe bet here. The demand for home in Kolkata is increasing as a result.

The developers have seen in the past few months, that if the product mix is right which means that the location of the property, its design, its facilities and amenities are good, then any project in Kolkata wherever it is being developed, is getting a steady flow of buyers all around the year.

Hence, as stated above also, if you want to invest in a property and you don’t have a city preference or your investment instincts are driven by the market scenario and not by sentiments, Kolkata is the ideal destination.

It has improved infrastructure, low prices, steady flow of transactions all the time and opportunities galore to re-sell a property at a better price sometime in the future.
This is indeed, the right time and place to invest. Kolkata is awaiting many more deals in near future too. Probably, the pre-Puja (festivities) times of August and September will herald many more investors from different parts of this country and also abroad as the best time is the current time.

Source: moneycontrol.com

Kolkata real estate: end users drive property prices

Kolkata is one of the very few real estate destinations where demand by end users is driving the prices of properties.

There has been a consistent demand from end buyers, and this has been unaffected by recession. One can find very good homes in various suburban areas of Kolkata, BT Road (North), Chandpur Champahati (extreme East), Baruipur (South), Howrah (West), with affordable prices keeping in view the low land cost of those areas, various commuting facilities, economic crunch overall, giving a chance to anybody to invest in those areas.

Investment pattern

Rajarhat is expected to soar on the backdrop of future IT growth story. However, due to recessionary economic phase and political changes many are assuming a wait & watch situation. EM Bypass is another attractive location.

Based on the report by ICICI Home Finance for FY 2012, the market will continue to expand by 10-15 per cent for the next 5 years.

Emerging trends

Low cost homes is the recent trend: There is an emerging trend that real estate developers are also going for low cost homes, and also investing in lands beyond the boundaries of Kolkata.

It is high end-user driven market: End-user consumes 65 per cent of this realty segment. The city is witnessing heavy demand for affordable housing apartment units in the range of Rs 25-30 lakh, as per ICICI research.

This is due to lower cost transportation facilities that provide better commuting facilities between sub-urban areas and Kolkata.

Smaller project size is developers choice: Builders are interested in smaller real estate projects, as it is easy to enter and exit these projects. This is considered after government came with revised land acquisition bill that make the takeover of the land very cumbersome.

Key developments

Kolkata’s real estate market is booming is evident from the fact that- Alchemist Township has bought 20 acres of land from Highland group in Kolkata and will build a Rs 600 crore residential project. The deal was facilated by Jones Lang LaSalle.

Godrej Properties is also launching its Rs 100 crore suoer-luxure residential project in South-Kolkata. This is the second project after Godrej Prakriti in Sodepur.

The state government has come up with a land use and development control plan (LUDCP) for the proposed Raghunathpur industrial township on a 29,000-acre barren and less fertile land identified in Purulia.

Land policy once made, will determine the kind of industries that can be set up in the area and at what rate prospective investors could buy land from landowners.

 

WB CM – proposed seat change fuels hope of demand surge in real estate

KOLKATA: Leading city-based realtors like the Surekas, Mohtas of the Merlin Group and the South City consortium have put their real estate projects on either side of the Kona Expressway and National Highways 6 and 3 on fast track within days of Chief Minister Mamata Banerjees’ announcement to move her seat of governance from Kolkata to Howrah temporarily.

Most of the real estate players ET spoke to felt that relocation of the Writers’ Building to the 13-storey HRBC building in Howrahs’ Mandirtala, less than 100 metres from Vidyasagar Setu, from October 1 will increase traffic movement and floating catchment of the area significantly.

The shift will also give a fillip to roadside eating joints, fast food stalls as well as the transport business. Former Credai-Bengal president Pradeep Sureka agreed. The CMs’ announcement to move her seat of governance to Howrah will not only increase traffic movement, but also improve infrastructure and draw public attention to the area. We plan to initiate work on our residential project shortly, said Sureka, who is also managing director of Sureka group.

City realtor Merlin Group also hopes to obtain the State Governments’ approval for its proposed residential project soon.

Alchemist buys land in Kolkata, to invest Rs 600 crore in project

NEW DELHI: National capital-based realty firm Alchemist Township has bought about 20 acre land in Kolkata from a local builder Highland Group and will invest Rs 600 crore to develop a residential project.Property consultant Jones Lang LaSalle India facilitated the deal. Alchemist Group is promoted by K D Singh, a Rajya Sabha MP from Trinamool Congress Party.

“In this deal, Delhi-based real estate developer Alchemist Township India has purchased 2 million square feet of prime residential land from Highland Group at Kolkata Riverside, a satellite township development encompassing 262 acres being developed on the banks of the Hooghly River,” JLL India said in a statement.

When contacted, JLL India Managing Director (Land Services) Mayank Saksena said Alchemist has bought about 20 acre of land but declined to disclose the value of the deal.He also noted that this is the largest land deal between two private parties.

“Altogether, Alchemist Township India Ltd has earmarked approximately Rs 600 crore for this project,” JLL India said.Jones Lang LaSalle India was transaction partner for both the firms in this deal.

A spokesperson from Alchemist Township India said the group intends to develop golf-course facing apartments and group housing on the two plots they have acquired.

Source: The Economic Times