Kolkata Real Estate

Kolkata, once the capital of British India, is changing by the day. With the state government’s drive for industrialization, albeit belated, West Bengal’s image has taken a turn for the better. Many reputed information technology companies have set shops in the city, creating a spurt in demand for high-quality retail estate. High-rises have mushroomed all over Kolkata, and new infrastructural projects including flyovers have given the once “city of palaces” a new, modern look. As kolkata real estate prices are comparatively lower than those in, say, Delhi or Mumbai, there is a growing demand as well for expensive properties from those who are looking to live life king size.

Developers in Kolkata have spread out several options, ranging from highly expensive to affordable properties, for potential customers thereby increasing the demand for real estate in kolkata. In order to cope with a growing population of the upwardly mobile middle class people, the city is gradually expanding its limits creating new residential or commercial areas.

Keeping in mind the growth of the information technology sector in and around Sector V of the posh Salt Lake area, a brand new complex called Rajarhat New Town is being built up close to the Netaji Subhash Chandra Bose or Dum Dum airport. Several top builders such as Unitech, DLF and Diamond Group have associated themselves with a number of attractive kolkata real estate projects.

Important residential areas where high-end residential properties are located in the city include Belvedere in Alipore, areas near Park Street, Lower Circular Road, and Southern Avenue in the Ballygunge area. On Prince Anwar Shah Road in the southern part of Kolkata, the tallest building called the South City has come up. However, its glory could be short-lived as there are plans for the construction of even higher buildings in the city. Given the limited scope of expansion of the city limits, vertical growth has been the favored option for real estate developers in kolkata.

The demand for kolkata real estate, both residential and commercial, is likely to go up with the completion of the much-awaited East West Metro Project that would connect Howrah, through an underwater link below the Hooghly River to Rajarhat, and the LRT (light rail transit) system running round the city. All in all, the real estate scenario in Kolkata is promising with possibilities for even higher growth in the days to come.

However, kolkata real estate prices in the city are also expected to rise over the years. But customers are unlikely to bother too much if they think they are getting good value for their money.