Kolkata : City of Joy and Life Style

KolkataBy Accommodation Times News Services

: Kolkata is the capital of Bengal and having population around 5 million, with an extended metropolitan population of over 14 million, making it the third-largest urban agglomeration and the fourth-largest city in India.

The city is an epitome of rich culture and creativity is one of the most preferred destinations for foreign direct investment (FDI). The real estate dynamics of the city are changing at a very fast pace.  The realty market has suddenly been geared up by arriving reputed MNCs and corporate offices.

The market for residential property has witnessed a distinct movement as Kolkata is breaking with the past. Projects of reputed builders such as DLF, Unitech are coming in the peripheral suburban areas of the city due to the emergence of Kolkata as an upcoming IT destination of India. The most of the residential projects are Public-Private -Partnership (PPP) projects.  The commercial market in Kolkata has witnessed large number of inquiries coming in from multinationals. Most of the property demands are from the domestic and international retail chains to set an upward trend in the commercial market. For MNCs and Corporate, apart from SaltLake or Lansdowne Road parts of C R Avenue, Rawdon Street, and Ballygunge Circular Road are also set to get a more upmarket status.

In the coming days, demand for office space is expected to be generated by players such as call centre operators, insurance companies, information processing outfits and restaurants. A Sizeable demand has already been generated by entertainment-cum-shopping complexes, and this trend is likely to continue in the near future.

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