Kolkata - Real Estate in the City of Joy

Kolkata, the city of joy has in her core a lot to give for different people from different genres. It may be from the very rich to the very poor. With the emerging prosperity of the city, Kolkata is busy to shelter all her future endeavors. Here comes the effectiveness of different authentic builders who are ready to invest at hand to not only make their own benefit but also decorate and place the city as a brighter figure in the map of the world.

Today it is easy to find real estate broker and agents who will help one find a dream house or sell apartments whatever the condition may be. Detailed information may be collected from them with authentic papers to hold or sell the property.

Eminent builders like ‘Shrachi’, ‘Merlin Group’, ‘Surekha’, ‘DLF’ and many more today have invested heavily in building apartments, shops and showrooms, multiplexes, offices and several others. Other than their investment, Kolkata would not have proceeded further to become an important real estate city.

After independence, the Government of West Bengal espoused the socialist manifesto and for this reason, Kolkata lost its title of being the preceding commercial capital of India. Adoption of such an idea made Mumbai the current commercial capital.

According to JLLM, Jones Lang LaSalle Meghraj, the office space market in Kolkata has received a tremendous change. Today the land area for the office purpose is to increase to 12 million square feet by 4Q 2008 from 3.7 million square feet in 3Q 2007.

The emergence of the IT sector in Kolkata has made Salt Lake and Rajarhat a place for the prosperous and the NRIs. But places like Chowranghee, Camac Street, Park Street, AJC Bose Road and old Dalhousie do not boast more land for further development. All the buildings here are old and can be classified as Grade B space. It is believed that Salt Lake and Rajarhat are going to have an addition of 8 million square feet area for the upcoming IT companies.

Shopping malls, the other name of real estate is presently seven in number. It is assumed to increase with 16 new-fangled malls. Five among these are proposed to have been built in Rajarhat. Speaking about the real estate market, it has come to focus that the foreign investment is rapidly increasing in the field. Foreign bankers are ready to endow money for the growth of these real estate buildings and important sectors. 

Eminent UK based company REIT Asset Management Limited has tied up with the Kolkata based Eden Group to give the city a brilliant look, especially in the parts of Maheshtala. Property values of high range are increasing the emergence of foreign investors. Appearing of the industrial companies in West Bengal has also increased the values of real estate. Apart from becoming an IT hub, it has also stretched its arms to make Kolkata and the suburbs a place of whooping infrastructure.

Thus, it can be estimated that Kolkata is becoming a most important city in the Real Estate Market, adding an impressive feather in its crown.