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Land prices pushing housing prices in Kolkata

Comments(2) Sub Category:Kolkata,Residential Real Estate Posted On: Sep 20, 2012

Exorbitant land prices are pushing housing prices in Kolkata. It is not in tune with the overall slowdown in real estate market.

Land prices have gone up by more than 50 per cent in many plush localities in Kolkata. The demand remains steady and hardly any new townships have come up in urban and semi-urban areas in city fringes.

Land auctions by government bodies like Kolkata Municipal Corporation (KMC) and Housing Infrastructure and Development Corporation (Hidco) have fetched them a fortune. KMC sold a 2-acre plot on EM Bypass for Rs 115 crore, making it the biggest land deal in the city. Similarly, a 2.5-acre plot for a retail-cum-office complex fetched Rs 51.13 crore for Hidco.

To read more real estate news:

Vatika Group to expand business centres

 

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