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Attractions of Kolkata Real Estate

The Facts of Kolkata Real Estate Properties

Real estate developers are intended to the developing their business in Kolkata as the property market in this city is very profitable. Real estate not only includes the housing properties but also lands and commercial properties. Real Estate Kolkata market has been rising by jumps and limits over the past some years and consequently Kolkata Properties have been a tendency changer regarding the real estate. Kolkata has even enthralled many global real estate developers and sponsors and as a result this day Kolkata is one of the most gratifying investment spaces in the world.

Real Estate scopes for residential projects in Kolkata:

There are various kinds of Residential Projects in Kolkata that provides various options on economic buildings, luxury properties, commercial properties, store houses, shopping malls, bungalows, hotels and Paying Guest housing in Kolkata. Kolkata Properties are not very costly throughout the global developer’s point of view and that is one main cause the international real estate developers have also chosen Kolkata as their major aim for their projects regarding the property.

Everyone vision their dream for a Kolkata home or apartment in the city. People who dream for a better residential property in this city wish for an urbanized area for breathing during their living. Thus they can run their livelihood in growing manner and the learning of their kids well too. All along with the famous schools, colleges there are also various professional institutes regarding every professional demand in the city. These provide more than enough learning and education to create a people adequate successful. There are well-known business schools to get a strong managerial degree for the business sector. Kolkata is a good traveler spot also and each year strangers from different countries come here to take pleasure in their travels. There are also a numeral of lodges and eatarians to stay and they provide good quality food and beverages too. Durga puja is the main festival and the main attraction of this city. People rejoice this with great enthusiasm and enjoyment. Durga puja of Bengal is famous among the world. Apart from this rejoiceful attraction Kolkata has turn out to be the most striking target real estate place for many relevant developers over the past few time of years spending and with its new planned properties it is the most preferential place for the real estate depositor. Real lavish housing, stores, business properties, enjoyment parks and offices are the major type of properties found across Kolkata. Other gorgeous Kolkata property apart from housing apartments and bungalows are the IT space where the most smart office constructions are initiates.

Type of properties in Kolkata:

Apart from the builder’s or developer’s business interest as a property seeker you can look for your desire residential houses or flats according to your financial plan and position liking as there are tremendous vast range of option for properties on different locations. Usually house seekers wish for a flat in Multistory Apartment in Kolkata which is with some up to date amenities like swimming pool, play ground, car parking area and multigame etc. These equipments are in from the builder’s concern. Actually an apartment building or a flat is self restricted accommodation component and it is a division of a structure of a building. There are two types of Multistorey Apartment in Kolkata such as on possession option and rental. An apartment building which is along by holder and is borrowed by occupant is identifying rental apartment. When inhabitant itself the owner of a flat it is called ownership flat. Kolkata property is now not restricted to dealing of only buying and selling of housing and offices but properties of all types are also existing on rent and lease which compose it simply accessible for the middle class people too. Kolkata property market is energetic and new creation and re-developments of a variety of projects are taking place all through the year. Developers or home seekers from different parts of the world find out properties in Kolkata for their better investment chance than any other cities in India and even outside India.

Latest trend for real estate properties in Kolkata:

Trend for real estate properties in Kolkata is experiencing manufacturing and inhabited growth ever since long. Trying to get closer with the trends in other metro cities Kolkata is also opening doors to contemporary real estate construction. The business of buying and selling of apartments in Kolkata are now looking for finest lifestyle options. Kolkata real estate developers are constructing efficient buildings so the people investing in real estate need not to think about the quality of construction. According to real estate agents, people at the time of property searching think about its sites, the facilities and also the builder before buying a property in the city. Characteristically, apartments in Kolkata have cost effective prices as contrasted to other metro city. Home buyers have large quantity of alternatives offered for them in the market as Kolkata properties presents range of housing from the affordable to the posh and costly. To buy an apartment in Kolkata the prices would differ definitely depending upon position and communications. So it is revealed that with a fast rising requirement for business as well as residential property, Kolkata real estate market is on one occasion increasing at a fast speed and also getting victory for the city as well as the for the community of the city.

Source: edengroup

International City beside the River Hooghly

If you were a resident of Kolkata in the 70′ and 80’s, you probably would not recognize the glitzy commercial and residential buildings dotting the skyline today. The initiative of real estate developers in Kolkata have infused the once-jaded look of the city with swank residential apartments and commercial spaces with a bold message that ‘Kolkata has truly arrived’.

Moreover, the state government is open to 100% foreign investment in real estate. The state’s urban development ministry has fixed a minimum area of 10 acres for developing housing plots, while 50, 000 square metres has been fixed for minimum built up area in construction development projects.

The Kolkata West International City across the River Hooghly in Howrah, the first venture funded by foreign capital, is spread over 390 acres that will offer 5500 bungalows on free hold land by 2009. With the best lifestyle accessories to boot, the township is a zip drive from the business district.

South City promises to be a landmark edifice as the the Emami, Sureka, Shrachi, JB. and Merlin Group of companies have come together for 3 residential-commercial projects on Prince Anwar Shah Road, B.L.Shah Road, and Alipore. Standing 35 storeys tall, South City will also house the city’s largest mall and an international school.

The city is stretching its limits towards Dankuni with another multi-use township on 5000 acres available for development. National and international bidders are in the fray for this coveted project.

On the commercial property front, 13.3 million square feet will be available in Sector V, Salt Lake and Rajarhat, the city’s IT hub. Retail spaces are also expected to grow to 1.5 million sq. ft of space – from 3 malls to 12 in the next few years, international brands will make their presence felt in the city, as incomes rise and lifestyles get more ‘stylized’. Two real estate projects in the 7-star category were launched in early 2007 to meet the aspiration for global brands amongst the elite of the city.

Appreciation

Jones Lang LaSalle, the world’s largest integrated real estate and investment management firm, finds Kolkata an attractive business destination, and worthy of figuring on the company’s list of ’emerging winners’. Inexpensive rentals, a successful private-public partnership model, incentives from the state government, political stability, a fair playing field for all real estate developers are factors very strongly in Kolkata’s favor.
In fact the West Bengal government’s initiative in tying up with private builders has facilitated opening up vast stretches of land which the existing urban land ceiling laws would never have made possible. The West Bengal government has created a cross-subsidy model for real estate developers in Kolkata, allowing them to make profits on high income housing provided middle income groups are sold flats at a no-profit, no-loss basis, and to the lower income groups at a lower than cost price.

The IT sector is growing at twice the national rate at 70% in Kolkata. The demand for 6 lakh sq.ft of commercial space has been expressed by foreign investors, MNCs and banks in the city. In fact, of all the foreign investors looking for investment opportunities in India, 40% of these are focusing on Kolkata.

Experts are of the view that ready commercial spaces available at short notice would make Kolkata a more attaractive destination for major corporations which are now looking for facilitites in the city. The time taken to sanction building plans would considerably cut down construction time by 3-6 months.

Source: NRI Realty News

The rates of the real estate property in Kolkata not very much high

Kolkata the state capital of West Bengal is one of the most favored places to live in India. Having various historical monuments, Kolkata is a city in India that stands for the city of dreams in the eastern part of India. Geographically located at the western coast of the Hugli River, Kolkata is the fifth largest post in the Country. Kolkata has been shaped well by the British and the French people in the recent centuries. Today Kolkata is known for its remarkable history and politics.

Kolkata plays a Communist Side of Politics. There is more happy people than any other city in India. This is why the city is called the City of Joy. The monuments that were developed in the British rule, are giving it a name of the City of Palaces. Today Kolkata is an Education hub, having most respectable and reputed colleges in its womb.

Kolkata is the first Indian city to have a metro rail route and is honored with as a metropolitan city. A large number of Bengali and other Indians are keen to buy a property in Kolkata as it the city that offers more employments than any other city in the state. Even if Kolkata is the state capital of one of the largest states in India, it is comparatively a lesser expensive city.

Even the rates of the real estate property in Kolkata is not very much high. Other metropolitan cities in the country do not exactly offer a buyer friendly real estate market. Specially the Northern areas of Kolkata, the real part of the state comprises of historical heritage and monuments and Multi storied old residences of the city.

And now the property tax in the city has been reduced by the mayor of the city. And this makes Kolkata a prospect destination to own a residence. A circular was issued last month regarding this news. The circular said: They are providing a separate statement showing outstanding dues or zero outstanding dues along with tax bills for 2012-13. This new settlement will reduce the harassment of taxpayers with respect to the higher AMC
There will also be an option for the Kolkata people to get a NOC (No Outstanding Certificate) by the Kolkata Municipal Department.

And now after the announcement of the CRR deduction by the RBI, home loans are expected to get cheaper. This may also boost the demand of the real estate property in Kolkata.

Kolkata being a coastal area offers a nice climate around the year. One can always find cool places to hang out in the city.

Kolkata is the second most populated city in the country. The demand of the real estate property has been radical and a quite stable. But with the launch of various residential and commercial developments at affordable rates, this demand may rise. Almost every day, companies announce their projects to be developed.

Source: Real Estate Sonepat Property in Sonepat

Alchemist to invest in Kolkata realty project

Alchemist Township India, a Delhi-based realty firm, is planning to develop a realty project in Kolkata, West Bengal.

To acquire the required land for the proposed project, the company has inked a deal with a local builder, Highland Group. As per the deal, Alchemist Township has purchased two million sq ft of prime residential land from Highland Group at Kolkata Riverside, a satellite township development encompassing 262 acre being developed on the banks of the Hooghly River. Property consultant, Jones Lang LaSalle India, facilitated the transaction.

The company will invest Rs 600 crore to develop a realty project. The project will include a 25 acre IT Park, various commercial establishments catering to the services sector, physical infrastructure and advanced lifestyle features such as a golf course.

Source: Projects Today

Growth Of Kolkata Real Estate

In the last couple of years, Kolkata real estate, has witnessed manifold increase in residential capital values. The major transactional areas include South Central Kolkata, E M Bypass, Kankurgachi, Phoolbagan, Beliaghata, Garia-Narendrapur in the Southeast, Behala-Joka in the south west, Rajarhat in the northeast, BT Road in the northwest and Howrah in the west.

The mid-end residential property segment which was available in a range of 8-15 lakh an year back is now available for Rs 20-25 lakh .The premium budget apartments which was available in the bracket of 25-35 lakh one year back has gone up to 45-75 lakh .

30% of the demand is real estate market in Kolkata is driven by the IT and related sectors. According to real estate consultant Sandip Sen of Calcutta Skyline, A little hit has been there for the Middle segment as the remuneration pattern has not been able to match up to the real estate price hike .In Kolkata the average demand is still in and around 20 lakh but there isn’t enough supply in this segment.

The average size that is sought after in the middle segment is around 1,000 sq ft for around 18-20 lakhs and for the premium segment it is around 1700-2500 for 50-70 lakh.

Apartments have always been the preferred option vis of vis bungalows in Kolkata. Says Sandip Sen, Apartments definitely come cheaper and resident can avail of all facilities and amenities in a huge complex. A lot of projects are coming to Kolkata wherein the apartments and bungalows are part of an integrated township.

There is a lot of interest generated in the investor community for the city of joy. Most of the big real estate brands such as DLF, Vatika are already there plus FDI is expected to flow into the city in a big way.

Source: RMA