The real estate market is witnessing a slowdown and prolonged slump for quite some time. This is not unusual, considering the global situation and the increasing costs of materials and other costs of production. Alongside, there is one big factor that has hit the real estate market hard in recent times. Owing to increasing costs of land and other variables, real estate prices have increased drastically across all major metro cities in recent times. Over the past year, prices have been extremely high and this has expectedly led to fewer takers for various newly launched projects. The real estate industry in India is in bad shape overall and the sector is looking at governmental reforms to revitalize the market.
Alongside, the upcoming Land Acquisition Act promises to toughen up things for real estate companies and developers and might lead to further price increases. At the same time, developers are trying their hand at affordable housing projects. Some are selling projects with hefty discounts and special payment schemes including flexible payment options. These discounts translate into almost 10-15% of the entire price of a property on an average. Alongside, real estate prices have seen minor corrections in some areas while suburban areas are witnessing slight increases in price owing to the actualization of much needed development. Unsold inventory has been piling up with developers and they are facing a sticky situation in this regard. Kolkata is no exception to this slump that has gripped the industry.
Are you looking to invest in the real estate market in Kolkata? You should be careful about your decision though and should only go ahead after a thorough understanding of the entire situation. Is this the best time to invest in real estate here? Read on to find out more about the prevalent situation in the Kolkata real estate market.
Customers are now hell bent on ferreting out the perfect home for themselves and this is one of the most dominant factors behind the overall performance and sales of the real estate industry currently. End users are still seeking out perfect homes at the end of the day in spite of the condition of the Indian economy. This is one trend that can be observed in Kolkata especially. Real estate developers of Kolkata are slowly shedding their traditional inhibitions pertaining to non investment in affordable housing projects. Some of them are even snapping up land in remote locations, almost on the city outskirts. This was something that would have been greeted with loads of skepticism and censure from middle to high income background customers earlier.
This would have mainly been on grounds of minimal commuting options to central business areas in Kolkata. However, this does not hold ground anymore in today’s times. Communication systems have improved to a great extent and the Kolkata metro railway system offers a fabulous alternative for people living in the outskirts. Real estate can only thrive on proper infrastructural support for a large chunk of customers in any location. Developers are now coming up with projects in areas that are quite a distance from major city centers. The suburban areas, namely Baruipur, BT Road (North), Howrah (West) and Chandpur Champahati (extreme East) are witnessing a slew of top notch projects. These are affordable housing projects and developers can keep prices low in these cases owing to the low costs involved in acquiring land in these areas. Other transportation facilities and the economic crunch on a whole, make these projects attractive options for a mass market.
Property investments have risen in Kolkata as more and more people look for affordable real estate investment options as a security option against the wake of growing economic insecurity and income depreciation. Realty prices are not going down and are only increasing with time in the suburbs. Real estate companies in Kolkata have been following models used in Bangalore, Mumbai and Chennai and are offering various goodies with projects. For instance, mid range cars are being offered to the first lot of customers along with other freebies like air conditioners and modular kitchens for the second and final lots of customers. This allows them to sell off flats which would otherwise be difficult to dispose of, owing to design aspects and other factors. Kolkata is witnessing high demand from NRI buyers and individuals from other cities who are making safe investments in the city. Real estate markets are thus witnessing an increase in overall demand and this is one favorable sector for the overall growth of the sector in the future.
Investments are mainly being triggered by market aspects and prevailing economic scenarios instead of hardcore preferences in some cases as opposed to the perfectionist group of buyers on the other. The latter has a good budget to partake of while the former wants value maximization at the lowest prices. Real estate companies are going by amenities, facilities, infrastructural support, good designs and good locations to market affordable housing projects to customers.
Kolkata has suddenly emerged as a good arena for investments in real estate owing to better infrastructure, low prices and steady appreciation in the value of properties. The resale market is also a thriving one here and these properties do fetch good returns for investors. This may just be the right time to invest in real estate in Kolkata according to experts and market watchers owing to the static prices. Some areas have even seen a reduction in overall prices and developers are going all out to clear inventories with discounts and special offers. Buying a property now will help you stay secure for the future and get fabulous value on your investment.
The Kolkata market has not been as fluctuating as say Mumbai and Delhi and that has worked in its favor with more people from other cities choosing it as a safe haven for their investments. If you are among those looking to snap up a property in the city, do not waste anymore time!
Alongside, the upcoming Land Acquisition Act promises to toughen up things for real estate companies and developers and might lead to further price increases. At the same time, developers are trying their hand at affordable housing projects. Some are selling projects with hefty discounts and special payment schemes including flexible payment options. These discounts translate into almost 10-15% of the entire price of a property on an average. Alongside, real estate prices have seen minor corrections in some areas while suburban areas are witnessing slight increases in price owing to the actualization of much needed development. Unsold inventory has been piling up with developers and they are facing a sticky situation in this regard. Kolkata is no exception to this slump that has gripped the industry.
Are you looking to invest in the real estate market in Kolkata? You should be careful about your decision though and should only go ahead after a thorough understanding of the entire situation. Is this the best time to invest in real estate here? Read on to find out more about the prevalent situation in the Kolkata real estate market.
Customers are now hell bent on ferreting out the perfect home for themselves and this is one of the most dominant factors behind the overall performance and sales of the real estate industry currently. End users are still seeking out perfect homes at the end of the day in spite of the condition of the Indian economy. This is one trend that can be observed in Kolkata especially. Real estate developers of Kolkata are slowly shedding their traditional inhibitions pertaining to non investment in affordable housing projects. Some of them are even snapping up land in remote locations, almost on the city outskirts. This was something that would have been greeted with loads of skepticism and censure from middle to high income background customers earlier.
This would have mainly been on grounds of minimal commuting options to central business areas in Kolkata. However, this does not hold ground anymore in today’s times. Communication systems have improved to a great extent and the Kolkata metro railway system offers a fabulous alternative for people living in the outskirts. Real estate can only thrive on proper infrastructural support for a large chunk of customers in any location. Developers are now coming up with projects in areas that are quite a distance from major city centers. The suburban areas, namely Baruipur, BT Road (North), Howrah (West) and Chandpur Champahati (extreme East) are witnessing a slew of top notch projects. These are affordable housing projects and developers can keep prices low in these cases owing to the low costs involved in acquiring land in these areas. Other transportation facilities and the economic crunch on a whole, make these projects attractive options for a mass market.
Property investments have risen in Kolkata as more and more people look for affordable real estate investment options as a security option against the wake of growing economic insecurity and income depreciation. Realty prices are not going down and are only increasing with time in the suburbs. Real estate companies in Kolkata have been following models used in Bangalore, Mumbai and Chennai and are offering various goodies with projects. For instance, mid range cars are being offered to the first lot of customers along with other freebies like air conditioners and modular kitchens for the second and final lots of customers. This allows them to sell off flats which would otherwise be difficult to dispose of, owing to design aspects and other factors. Kolkata is witnessing high demand from NRI buyers and individuals from other cities who are making safe investments in the city. Real estate markets are thus witnessing an increase in overall demand and this is one favorable sector for the overall growth of the sector in the future.
Investments are mainly being triggered by market aspects and prevailing economic scenarios instead of hardcore preferences in some cases as opposed to the perfectionist group of buyers on the other. The latter has a good budget to partake of while the former wants value maximization at the lowest prices. Real estate companies are going by amenities, facilities, infrastructural support, good designs and good locations to market affordable housing projects to customers.
Kolkata has suddenly emerged as a good arena for investments in real estate owing to better infrastructure, low prices and steady appreciation in the value of properties. The resale market is also a thriving one here and these properties do fetch good returns for investors. This may just be the right time to invest in real estate in Kolkata according to experts and market watchers owing to the static prices. Some areas have even seen a reduction in overall prices and developers are going all out to clear inventories with discounts and special offers. Buying a property now will help you stay secure for the future and get fabulous value on your investment.
The Kolkata market has not been as fluctuating as say Mumbai and Delhi and that has worked in its favor with more people from other cities choosing it as a safe haven for their investments. If you are among those looking to snap up a property in the city, do not waste anymore time!
The kolkata real estate sector continues to be a favoured destination for global investors. The urban population will surge in the coming years, which, coupled with growth in employment, education and health care, will push the demand for residential and commercial space.
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