Although Kolkata has lagged behind its fellow metropolitan cities of Delhi, Mumbai and Bangalore, the real estate markets of the city are termed as far more stable than them. The property values in Kolkata are not speculative and it is mostly the end user segment that drives the real estate markets here.
However, this nature of Kolkata real estate has duly caught the attention of investors. People intending to invest in properties find Kolkata market as fundamentally strong, says a property dealer.
Investors who want safe investments in real estate feel that investing in Kolkata Properties may not give enormous returns but then the risk of loss is also very low. Also, the property values in Kolkata are comparatively lower than other metropolitans. Be it the segment of commercial properties, residential real estate or retail outlets, both capital values and rentals are pretty less in comparison to the other big cities.
Given these reasons, the demand for investment property in Kolkata is rising year on year. The real estate developers also have caught the market nerves and now coming up with projects that are focused on investors. And the NRI segment is the hottest among all.
Recently, Rosedale Developers and Bengal Shrachi Housing Development launched ‘Rosedale Garden’, an integrated township targeted towards NRI customers and investors. The project would sell 2BHK, 3BHK and 4BHK apartments in the price range between Rs 50 lakh and Rs 1.5 crore.
According to Prakash Singh, a city-based property dealer, investors who seek handsome rental income are interested in such properties. He also informed that safety of investment is biggest concern for any investor and that’s what Kolkata properties offer.
Meanwhile, the city is never behind in terms of skyscraper projects. The city is set to receive a 41 floor residential building that would be the tallest among all. At present, South City and Hiland Park are the tallest with 35 and 28 floors, respectively.