Real estate in West Bengal is growing
The real estate business in West Bengal is growing rapidly. In an analysis it is found that the hotel business is growing by 10 to 1 percent in the state.
In 2012, the realty sector in Bengal is expected to grow by 15 to 20 percent. Apart from hotels, the residential projects in Kolkata and surrounding areas are also growing.
The Bagaria Group of Kolkata, which is into steel, tea and real estate, sees a boom in demand for luxury housing in West Bengal.
The Bagaria Group will set up a residential property on the two-acre plot, which they bought from the Kolkata Municipal Corporation paying Rs 57.5 crore. They will spend Rs 100 crore for the construction of the luxurious residential properties in Kolkata.
The demand for housing and commercial property is growing due to a steep rise in people’s spending capacity of the state, and the entry of multinational companies, especially information technology firms.
The builders of West Bengal are expecting that the booming housing business to post a very high growth in the days ahead compared to commercial property such as hotel and resorts.
To read more real estate stories:
Kolkata realty hope for better times
Source: Daijiworld
housing and commercial property, Kolkata Municipal Corporation, luxury housing in West Bengal, Properties in Kolkata, Real estate business, residential properties in Kolkata
