Future of Kolkata Real Estate

 By: Deepika B
Kolkata, the commercial capital of West Bengal, is located on the banks of river Hoogly. It is the third most populated metropolitan city in India where the demand for the residential or commercial property is increasing day by day. There is a fast development of the real estate market in the city as the government has put in too many measures to ensure the growth in this sector.

Real estate Kolkata in the past few years has undergone great changes. The rapid expansion of economic activities in the city has lead to an increase in the demand for land, building, office spaces, luxury houses, shopping complexes and malls. Due to the above mentioned points, West Bengal has become the favorite destination for investment in today's era.

Business expansion has also lead to a growing demand of residential spaces, hotel rooms, lodges etc. which has further stimulated the demand to build more hotels and restaurants in Kolkata. This has again lead to an upward strike in the real estate of Kolkata.
The major advantage of purchasing property in Kolkata is that the comparative cost of land is much lower than other metros like Delhi, Mumbai or Pune property. The cost of living and operation cost in the city is also low as it is the net exporter of electricity.

Investment is need of the hour and there can be nothing better than investing in real estate which provides a stable income. Buying property wisely can offer better returns as property can be bought and sold anytime as per the market conditions.

It is not possible for everyone to find a suitable place as far as real estate Kolkata is concerned. As a result many brokers have come into picture who provide the best market advice and total information about latest rates for buying house and the best places in the city, Brokers provide all information about property, and even give a wide variety of choices and provide the customer with the best prices. They also help them in completing all the necessary procedures regarding registration, tax, etc which then gets completely hassle free. They give complete satisfaction and happiness to customers and make purchasing property in Kolkata a great experience.

The ceiling rates of real estate Kolkata have been reduced and the taxes are collected by Municipal Corporation of Kolkata. The corporation has developed websites which contain all information regarding rates, bills, valuation of property, due dates, tax assessments and property. Valuation of tax is very important as tax rates in real estate of Kolkata are different for different values of land.

It is not often easy to own a place for living in the city for the middle and the lower section of the society; therefore, renting a house is a feasible option for them. Home loan facilities by the banks in Kolkata provide financial assistance to people by giving higher loan approvals at low interest rates.

New town and Rajarhat in Kolkata east, Kaikhali, Keshtopur, Jessore road in north, Jadhavpur, Kasba, Narendrapur in Kolkata south, have values between 3,200-2,000 per square feet. These areas appear to be most volatile in capital values and there is substantial increase in property rates there. Real estate Kolkata is the new hot spot for development in real estate developments whereas; east Kolkata faces a marginal decrease in market rates. Government is helping the citizens in residential sectors as the demand for the same is boosting up. A significant change has been felt in the real estate sector as well after the growing demand for accommodation facilities like flats low cost housing, property in lease, etc. Commercial property is also experiencing a boost in terms of development, adding to the growth of the city. With all these factors, the city is sure to witness high profits in its residential as well as commercial property sectors.
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