The demand for Residential Real Estate units has been increasing in Kolkata over the last few years. Backed by increasing employment opportunities and a positive market outlook, the first half of 2019 saw a decent rise in the sales of residential units across the city. It witnessed a 19 per cent increase in the sale of homes from January to September in 2019, as per the latest report published by a real estate research firm.
Emerging as one of India’s fastest-growing real estate markets, Kolkata has witnessed a phenomenal spurt due to increasing capital values and the surge in demand. At this juncture, leading realty developers like Dharitri Infraventure Pvt Ltd, Emami Infrastructure, Unimark Group, etc., are coming up with new projects across the city to meet this growing demand of living spaces.
The unsold inventory in Kolkata is also decreasing, as it joins the race to attract investors and buyers from across the city. Most of the residential real estate boom in Kolkata has been in the affordable housing segment. Out of the 1,75,000 residential units launched since 2011, 60 to 70 per cent have been budget-friendly projects.
Affordable project developers like Dharitri Infraventure Pvt Ltd have been ruling the roost with better reforms and transparent policies in place. Better connectivity and ease of transport have also given a boost to the buyers, who are exploring various options away from the hustle and bustle of main cities. The projects in these locations come with basic facilities like 24 x 7 water and power supply, complete security solutions, play area, gardens, swimming pool, etc.
These locations offer complete access to many nearby hotspots and markets, making it easy for the residents to shop for daily needs. The attractive suburbs are not only luring buyers from Kolkata but from other cities across Eastern India as well, which is further fueling the demand for residential real estate units. The trend is likely to continue, as the city braces for more affordable residential projects across strategic locations in the coming months.