The Real Estate market of Kolkata has all reasons to rejoice

The erstwhile capital of British India, Kolkata is considered the gateway to India. Presently Kolkata is the address of 15 million people and the number is still counting. Respected as the cultural capital of India, Kolkata offers endless opportunities for survival to all classes of people. The city has also emerged as one of the largest real markets in the country and there are numerous real estate projects in Kolkata that are carried out very successfully. There is a wide range of options that are available in Kolkata on renting, buying and leasing.

The major drivers of the real estate market in Kolkata are as follows-

Thriving real estate market-There are many construction activities are ongoing in the city  and to own  apartments in Kolkata is a big achievement as one has to loosen a pocket  in a big way. But the positive apart of eth story is that a hike of 5-15% is expected in the future, so for investors, it is going to be a good deal.

The presence of several multinational organizations like DLF Ltd and GFM Land Ltd has transformed the whole real estate industry in Kolkata .There is a change in the outlook of buyers for the commercial properties here. The situation is quite similar in Kolkata as in any other big city. The properties are very expensive in the city so, the peripheral areas are now getting the focus of builders and buyers.

Government’s contribution- The Government of West Bengal has aided the realtors by creating a cross-subsidy model. Under this model, the Government has made provisions for the builders to make a profit on the high end properties only on condition to provide new projects in Kolkata for middle income group at no profit –loss basis and houses for the lower income group below the cost price. The commercial properties are available at short notice which is attracting more and more buyers.

The latest Public-Private Partnership projects that are coming up in the city and the surrounding locations are as follows-

Bengal Ambuja Housing Development Limited
Bengal Sharachi
Bengal Shristi

To conclude be can say that the real estate projects in Kolkata are growing because of the lower land prices, lower asset cost, the presence of measurable infrastructure and active participation of the government and private companies. So, if you still visualize Kolkata with old monuments and primitive infrastructure, it is time to change your mindset as Kolkata is fast emerging as real estate hub.

What you need to know before buying a property in India?

As a constantly developing nation, India has been in focus since quite some time now. The reason behind this attention is the growing need of real estate developers who are getting impatient these days with a regularly fluctuating market. Real estate in India is not just about sprawling property sites and high-rise buildings; it is an entire project that is going to transform the whole concept of buying property in the country. That’s the reason, which is giving an edge to the global investors who are eyeing to buy more property in India than they currently have. This sudden rise in demand has also given birth to the notion that property business in this country needs to be completely evolved and always on the forefront of fine detailing.

If you’re a first time buyer then it is important to understand current trends before making your move in the real estate industry. In order to understand the concept more clearly, here are a few suggestions to keep you out of an unsatisfying deal

Think before you buy

This mantra has been in the industry ever since it came into existence. Being a tricky business that it is, real estate needs to be handled carefully with a thorough research before investing a huge chunk of money in it. Moreover, it is always safe to first know about the location and its pricing structure and then compare it to the other options available these days. This step can also be done with the help of real estate websites in India that always come handy during the time of evaluating any particular project. 

Hence, it is advisable to make your decisions based on the present understanding of the market.

Know when to buy

Real estate business of India is all about appropriate timing. Before knowing the type of project that you are going to invest in, it is necessary to evaluate the timing of your next purchase. It is because of the fact that real estate keeps stumbling due to unstable property rates and trends that are highly unpredictable. Therefore, in order to avoid any kind of bad luck with a property, one should always go through a list of options available according to market’s performance.

Click here to know  the Imapct of GST on Realestate Sector

Important to calculate future profits

Before investing in a piece of property, it is important to make sure that you are betting money on a lucrative option. However, it is not always easy to ensure that the property is money-making and in these types of situations one could only depend upon what market trends are suggesting. After exploring various options, a buyer is able to comprehend and make profitable decisions. Thus, apart from selecting a suitable property, a buyer’s role is more demanding in terms of estimating future risks and profits associated with it.

Real estate Sector comes with its own possibilities of an unsteady market that could react in any manner. This situation is not only scary for buyers but also for developers who are investing all of their money in the construction of a new building. Apart from understanding this market, one should also look deep into the repercussions that it showcases in near future. 

However, given the present condition of the market and tons of initiatives being introduced by the government, the future of realty business definitely looks interesting.

Why Realty Business In India Needs To Be Focused On Regulatory Reforms?

The introduction of real estate policies in India had a huge impact on the overall performance of this industry in different parts of the country. Not just in metropolitan cities, reforms were also quite substantial in other areas nearby to metro locations. After a tricky business by real estate since the past few years, government has now planned to stay away from controversies and instead build a regulatory model that could help protect its integrity. 

This interesting step was taken much after India had seen its downfall in the real estate business in 2008. However, there was no looking back for the country after that as it soon realized that no such business could ever function without appropriate rules and regulations.

Real estate in India has always been more on the unorganized side as there was no legal body to empower its every move in the industry. This scenario is soon going to change and we have already been witnessing quite a few changes from this year itself. For example, the introduction of Real Estate Regulatory Bill, which was mentioned way before in 2013 has now found its place in the rulebook of Indian constitution.

Apart from these changes, a major part of the regulatory system is the initiation of Real Estate Investment Trusts (REITs) that was focused in enhancing the current trends in real estate business model of India. 

The trusts were formed so that there could be a faster process of bringing more transparency in real estate and reshape modern infrastructure with well-planned tasks. On the other hand, REITs are proving out to be extremely beneficial for developers who are either in need of capital to build new projects or are under huge amount of debts to pay. 

The Land Acquisition, Rehabilitation and Resettlement (LARR) Bill, which was also a step towards impending development on the part of Indian government, soon became on the most talked about reforms of the country. The policy has become so important because of the fact that land acquisition has always been a major challenge for builders, which sometimes became a reason for project cancellations.

As almost all of the metro cities of India play a huge role in the social and economic status of the country, the government decided to launch an initiative ‘Smart Cities’.  With urban areas accounting to a large portion of India’s GDP, the Smart Cities scheme is targeting towards achieving a more organized infrastructure in terms of urbanization. 

Talking about the future prospects of this scheme, it is estimated that it is only going to function smoothly if there is a tie up between government and private sector in near future. 

Double the festive bash with a right property buy

With the festive season all set to begin, enticing are eagerly waiting to be sealed. The festival of lights is considered very auspicious to get into any financial engagement and what can be more advantageous than a good home deal. So, this is one time when both builders and buyers are equally excited. Developers in Pune are no exception; they are leaving no stone unturned to attract buyers. The range of free bees is extremely appealing, starting from free holidays for early buyers to gold coins; they are ready to offer anything to compete. Pune is also attracting many NRI buyers.

However, one should keep some points in mind before buying a property in Pune

Legal procedure

It is always advisable to know these things about the property you are going to invest. Iis important for any builder to get these legalities done

Get an encumbrance certificate
Get verified as a builde
NOC and Tax certificates

Knowledge about the RBI guidelines for transfer of acquisition and the Immovable property

This is particularly important for the NRIs as the Reserve Bank of India has formulated some guidelines for transfer of acquisition and Transfer of the Immovable properties. Theses primarily include


Foreign national  Person of Indian Origin (PIO)

Should be a Non Resident Indian
What will be the mode of payment
There should be provision for foreign embassies
A repatriation of the residential and commercial properties

Where can an NRI buy property-

NRIS have a plethora of options to buy properties in India but they should ideally invest in established city like Pune. Pune has an excellent ROI and it is developing further. 

The major interests of the NRI customers are in residential projects and hence the residential property rates in Pune are in vertical mode.

Some key areas to buy

Some key areas where you can focus buying apartments are as follows

Hinje wadi IT park-The most bountiful and rich place in Pune, Hinjewadi is the best place Though ifrom the city but facilities are fast growing here.

Karadi- Karabi has transformed itself into the most happening place in Pune .The place is well connected with all the major parts of the city and comes under SEZ. Apartments here will surely attract young professionals.

Hope this information will enrich many of our NRI home buyers.