Although Kolkata was one of the major metropolitan city of India but the city was not able to do well in terms of the realty sector. Kolkata real estate has not been able to give good returns when compared to other property in India. Real estate in Kolkata has not been able to attract many investors as the city has not given huge returns. While nothing concrete can be said about real estate in Kolkata yet we can gauge the situation looking at the present scenario. Let us talk of what Kolkata real estate has in the offing. The ever-migrating population could be the main factor why real estate in Kolkata might never progress. The city is unable to offer ample job offering and hence the youth does not see the need to invest in residential and the commercial properties.
The average buyer is showing an interest to buy luxury property in India. Most of the builders who are building apartments in Rajarhat are focusing this segment. People looking to invest in property in Rajarhat are also preferring to buy a luxury property. Apartments in Rajarhat are being built using latest technologies. These apartments in Rajarhat will offer all modern facilities. Property in Rajarhat focuses more on upscale housing. The developers of property in India are expected offer projects that are centered on comfort and convenience. However, this does not mean that one cannot buy affordable property in Rajarhat. Infact most people still look to buy affordable property in India.
The property prices in major cities of India like Bangalore, Delhi, Mumbai, Gurgaon, etc. are soaring, and the real estate developers are unwilling to bring down the property rates. So, this could propel people to invest in real estate in Kolkata . The middle-segment buyers are now looking to invest in affordable cities like Kolkata. If this situation continues either property in India will see price correction or the Kolkata real estate will boom in the next few decades.
The new regularization rules and laws that the government has vowed to implement will boost the prospects of property in Rajarhat. This will help in bringing transparency and will enable people to have more trust on real estate builders. In the coming few months the implementation of the real estate bill will strengthen the realty market and more buyers will be willing to invest in the realty market.