The emergence of IT companies, improving transport connectivity and infrastructural upgrades such as metro projects, new taxation regimes and dilapidated homes to get a new lease of life are benefiting Kolkata’s real estate for long now.
The realty world is likely to experience a surge in sales volume, especially in mid-income housing segment in 2017. However, due to dependency on unaccounted cash transaction after demonetization, the premier segment is under pressure and this is giving rise to inventory backlog and would remain a worry for the developers’ lingo in Kolkata. The top and primary gainers in the capital market would be the localities in close proximity to IT companies such as Ballygunge, EM Bypass, Garighat and Alipore. Amid signs of stagnant price levels in India’s real estate market, Kolkata has received a one percent growth in average capital values in the residential market in the first quarter of 2016. Continue reading