Kolkata, the ‘City of Joy’ and capital state of West Bengal is supposed to be one of the most inexpensive cities in India. But now the scene is completely different as the Kolkata real estate sector has taken a big leap in the past few years. Currently, real estate market in Kolkata seems is at its lucrative best and growing at a fast pace. The city has bagged around Rs25, 000 crore in real estate only in the past two years. With a burgeoning demand for both, commercial as well as residential property, Kolkata’s real estate is once again coming back to its old lively mode.
Real estate prices in Kolkata are far more rational as compared to other metros like Mumbai, Delhi, Bangalore or Hyderabad. However, the growth has not affected the property prices as they are still on the lower side in the city. Park Street, Belvedere, Ballygunge and Southern Avenue are some of the prime areas of Kolkata and where the property prices are quite steep as compared to the other areas. The demand for residential and commercial properties is on the rise in the upcoming areas of Salt Lake, Garia-Narendrapur, Behala-Joka, Rajarhat, and Howrah.
With many a multinational companies making their way to the city, many reputed builders are looking forward to setting up residential and commercial projects here. Majority of the demand for property in Kolkata is attributed to the foray of domestic and international retail chains. Most known real estate developers are willing to invest and create mammoth townships and projects that would completely meet the international standards thereby luring international players to come and invest in Kolkata.
With all these factors contributing to the growth in real estate market in Kolkata, it certainly will see a tremendous rise in demand for office spaces in the coming future. Log on and find out more about Kolkata properties and real estate, visit India’s No.1 property site magicbricks.com.