Housing in Kolkata Growing Manifold - By: Deepika B

Kolkata, the capital of West Bengal, is the third most populous metro city in India. It has seen tremendous growth in the last decade after serving as the capital of the nation during British Raj. Kolkata is an extremely important commercial and financial hub of Eastern India.

Kolkata is home to many electronic, jute and IT industries along with industrial units of various mammoth companies like ITC Limited, Exide Industries, Hindustan Motors, Bata India, Britannia Industries, Birla Corporation, Coal India Limited, United Bank of India and many others. The presence of varied industries apparently underlines the humongous growth in commercial sector of the city. There has been a surge of investments in the housing infrastructure sector as well in recent years with launch of several new projects in the city.

Kolkata real estate is on an upward path especially in regards to the residential segment. The sudden towering up of demand driven by employers, to provide quality living to their manpower, has necessitated the need for growth of residential property in Kolkata. The population of Kolkata has both skilled and semi-skilled or unskilled workers due to which professionals from outside are transported in the city. Now, these highly skilled resources need quality accommodation, thereby, leading to creation of high demand for housing in the city.

Housing in Kolkata comprises of 2, 3 and 4bhk flats, apartments, townships, residential buildings and rented accommodation. The residential property in Kolkata promise exceptional construction and advanced amenities that match international standards. The infrastructure of the city has seen massive industrialization that has helped increase the disposable incomes thus, generating the demand for premium housing. There are many housing projects coming up in the city by leading property developers that ensure luxurious living at cost effective prices. These projects have sure been changing the skyline of the ‘City of Joy’ and will transform it completely in the coming years. Kolkata is soon to become a top notch residential property destination.

Leading brands in realty industry like Unitech and Hiland Group have developed several residential properties in Kolkata. The influx of manpower in the city has been beneficial in more than ways as firstly, it supports the operations of the industries and secondly, has given a new definition to its living standards. The apartments in Kolkata cater to a wide variety of buyers and investors in terms of sizes and prices. With the changing needs, the infrastructural requirements in the housing segment are also changing. The earlier needs for individual housing solutions have changed in to the current trends of group housing and mass housing solutions. And property developers are engaged in meeting these upscale needs by creating luxurious housing and quality lifestyles at affordable costs.

Not only residential but retail segment is also prospering in India. The development in commercial property in Kolkata led to growth in its residential realty market. Now, the increased population needs sources of entertainment and recreation and there can be no better place than shopping complexes, malls, multiplexes, amusement parks, etc. Such large scale developments in the city have hiked property prices and rental values, taking them to a new high.

The efforts are made to create housing amidst green surroundings to give a unique experience of living. The integration of the verdant cover, parks, community centers, appropriate water supply, drainage and electricity with houses will lead to creation of dream homes. These dream homes are available at within the budget range as of now but are expected to grow with the growing cement rates and home loan rates. So, this is the most feasible time to invest in Kolkata property.

About the Author

Deepika Bansal writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers & brokers can exchange information. At 99 acres, you can advertise a property in India , search, browse through Kolkata property and Properties.

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