Land prices pushing housing prices in Kolkata
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.
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EM Bypass, Government bodies, High land prices, Housing Infrastructure and Development Corporation (Hidco), Housing prices, Kolkata, Kolkata Municipal Corporation, Land prices, plush localities, retail-cum-office complex, Townships
[...] Land prices pushing housing prices in Kolkata [...]
[...] Land prices pushing housing prices in Kolkata [...]