Are builders able to meet the need of buyers in kolkata?
Q: Kolkata real-estate market is end user driven and it has high demand of Affordable housing? Do you think the builders are able to meet the need of buyers in Kolkata?
Yes I agree with the above mentioned views. Kolkata has always been the city for working professionals and it is no surprise to see that the real estate sentiment of the city is user driven. The change in political climate has also got a lot of pending infrastructural projects a go ahead. Moving around in Kolkata one can witness how infrastructure is being upgraded. That is surely going to help the realty price sentiment in the medium to long term. Builders are more or less able to meet the demands of the buyers in Kolkata. The presence of pan India builders with good reputation has also helped local builders to provide equally good quality at a good price.
It is true that Kolkata real estate market is an end user driven market but there are two aspects of note. Firstly demand for affordable housing has increased because of the large quantum of population but with influx of multinationals and IT industry flourishing in the state, professionals have migrated offering boost of the overall realty sentiment. While some areas have witnessed more interest than the congested north Kolkata and other areas. The good news is that there is no oversupply so correction in prices is not foreseen. However consider the positive spike to be conservative between 8 to 10% on year.
Yes with increase of multinational companies and IT industry flourishing in the state, professionals have migrated offering boost of the overall realty sentiment. Kolkata real estate has become very high as compared to ten years back.