News & Views on Indian Real Estate

Monday, May 12, 2008

Promising Times Ahead For Kolkata Real Estate

Kolkata property market has been growing by leaps and bounds and is today one of the most lucrative investment destinations in the state. The city has attracted around 25,000 crore in real estate over the past two years. Recently, I got my hands on the news which says Realty major from Singapore is setting up luxury condos in New Town, Kolkata, complete with wi-fi connectivity, an aroma garden, an elevated green podium to camouflage the underground parking lot and a mini cricket field. Elita Garden Vista, a 1,278-unit complex, is being developed on a 25-acre land parcel in Action Area III of the Rajarhat Township by Keppel Land Limited, the property arm of the Keppel Group, one of Singapore’s multinational behemoths with core businesses in offshore and marine infrastructure and property. Keppel Land’s Indian partners in the project — the first in the city being developed by Singapore realty major — are the Jatia Group and the Puravankara Group. It’s set to be ready by end-2011.The group also plan to do at least three more projects in India, both in the residential and retail/commercial segments in the next five years. The condos will be housed in 15 towers, with the tallest going up to 30 storeys. Besides recreational amenities like a central swimming pool, a clubhouse, a gymnasium and a children’s playground, the complex will have features designed to suit the needs of IT professionals. Calcutta being amongst the most significant IT growth centers in India after Bangalore and Hyderabad and our project, with an average unit price of around Rs 50 lakh, has been created to facilitate the lifestyle of the executives in the new-age service sectors. This project will provide a huge fillip to Calcutta’s property market. Improvements in the city will pave way for more investments and make the investors feel confident about selling their real estate projects. Kolkata possesses an untouched potential and is likely to see an astronomical growth of 25-30 per cent in very near future.

Anonymous said...

Yes that's true in the previous 2 years the boom level at kolkata at a very high level and near coming years it will be more hike.

Anonymous said...

Already kolkata is a big boom level part in the Real estate sector because all the necessary improvements are having there which is very good to be for the growth level.

Anonymous said...

I really like your blog it’s excellent…

Plz share more about India real estate growth in this ression