Kolkata Ongoing Residential Projects Market
Kolkata Ongoing Residential Projects A has always been famous for welcoming wealthy and highly educated immigrants. Kolkata is fundamentally a Tier II city, and its real estate market is not as volatile as those of the primary cities. Because of this, Kolkata's residential property sector was not as seriously impacted by the nationwide slump in the real estate market as cities like Mumbai, Delhi, Pune or Hyderabad. Traditionally quite conservative when compared to these cities, the Kolkata residential property market now has a rather heavy complement of investors driving it. At the moment, it would be safe to say that around 60 % of Kolkata's residential real estate market is driven by investors. The pace of recovery from the slump has been steady - but like every other city, the growth in residential property rates is not been uniform across all locations. Established central areas show much the same dynamics as those in cities like Mumbai and Pune do because appreciation potential hovers around the peak levels for these areas already. At the same time, demand for these locations is also constant. To illustrate - the CBD (Central Business District) locations from Dalhousie to Elgin Road have not seen much upward or downward movement in residential rates. In 2007, they ranged from Rs.10000-12000 / sqft. And now are at Rs. 12000-15000 / sqft. The prime areas of Alipore and Ballygunje in the SBD have residential rates and market dynamics matching those of the CBD. Ongoing Residential Projects In Rajarhat seen as fundamentally strong. The SBD (Secondary Business District) areas like Dariahat, the Eastern Metropolitan Bypass and Central Avenue up to Lake Town on VIP Road have seen higher appreciation as housing demand spread outward into more affordable areas. In these areas, housing rates ranged from has been higher - from Rs. 2500-4000 / sqft in 2007 to Rs. 3000-7000 / sqft. Today. In the PBD (Peripheral Business District) areas beyond the SBD, rates have also been fluctuating (though less dramatically) from around Rs. 1500-2000 / sqft in 2007 to Rs. 2000-4000 / sqft today. http://firstkolkataproperties.com/ongoing- projects-in-kolkata-ongoing-construction-in-kolkata/ follows the Metro Trend always. As a matter of interest, the costliest residential areas in Kolkata today are Park Street, Ballygunje, Alipore and Camac Street, where rates range from Rs. 12000-15000 / sqft. The cheapest areas are in the PBD, in areas such as Dumdum and Garcia. Rates there range from Rs. 1500-2500 / sqft. I expect residential capital values in Kolkata to rise steadily in the feature, not least of all because of the advent of reputed developers such as Godrej, DLF and Unitech. Considering the demand, prices are likely to rise much faster for residential properties than in other real estate segments. Commercial Projects Kolkata has beautiful heritage structures and colonial buildings. Of late, the property graph in India is showing a downward trend but this is not true in the case of property market of Kolkata. The city's real estate remains hot amidst cooling realty prices in other areas. Contrasting to falling prices of many metros in India, the property prices in the city are moving upwards, in fact at a rate which belies most expectations. The areas in south and south central Kolkata where the price of apartments has risen to the tune of Rs 800 per square feet in just six months. Kolkata Ongoing Residential Projects really quite genuinely is an option and property out there for everyone that is looking for one! Now properties in the same area are commanding a price of about Rs 3,000 per square foot. As per the market analysts, the areas which have seen an outstanding price rise are Ballygunje, Prince Anwar Shah Road and Elgin Road of south Kolkata. Ongoing Properties In Kolkata is not indefinite and usually it is the end user segment that drives the real estate markets here. Somehow, this nature of Kolkata real estate has duly attracted many investors.