Driving Factors in Kolkata’s Residential Real Estate

Kolkata, the state capital of West Bengal is one of the fourth most populous cities of India. Popularly referred to as the town of joy, the land is wealthy in its culture and tradition. When it comes to its real estate scenario, the city is witnessing rapid growth in all the segments ranging from high end to affordable properties.
City’s property market witnessed a couple of major enhancements in seeing that all the important estate market players have up their game, and are actively participating in this multi-core market.

The real estate sector in Kolkata, according to statistics, has shown a growth of 11% on a yearly basis.
There has additionally been the expansion of diverse townships. The Garia Baishnabghata Patuli township, the Behala township, the Alipore township and the currently emerging township in Rajarhat, New Town, Joka, Garia, Sonarpur, Barasat are a few examples.

This rising administrative district additionally provides cheap rent and fairly priced property compared to property costs in different metropolitans. The demand for property has seen a tremendous spike ever since the construction of the Metro Railways. There is already a metro corridor that connects Dum Dum to Tollygunge and was later extended to connect Noapara to Garia. The metro corridor currently under construction, also known as the East-West corridor will connect Salt Lake to Howrah, making connectivity a dream come true for commuters.

Kolkata is basically an End-user market and shown rapid growth in affordable housing in recent few Quarters. People living in B towns and working in Kolkata are preferring to buy property in the outskirts of Kolkata. The main reason for this is the affordable prices of properties in the outskirts.

Insights by:
Mukesh Agarwal
Director, Maa Durga Properties