Though Kolkata may be termed 'slow-moving' in comparison with its counterpart metropolitan cities of Delhi, Mumbai and Bangalore, the real estate markets of the city are termed as far more stable than them. The property values in Kolkata are not speculative and it is mostly the end user segment that drives the real estate markets here. However, this nature of Kolkata real estate has duly caught the attention of investors. People intending to invest in properties find Kolkata market as fundamentally strong, says a property dealer.
Besides, the city is also not behind in terms of skyscraper projects. market is set to receive a 41 floor residential building that would be the tallest among all. At present, South City and Hiland Park are the tallest with 35 and 28 floors, respectively. According to Prakash Singh, a city-based property dealer, investors who seek handsome rental income are interested in such properties. He also informed that safety of investment is biggest concern for any investor and that's what Kolkata properties offer.
Commercial real estate scenario
The Central Business District (CBD) of Kolkata, comprises Old Dalhousie, Chowrangee, Camac, Park Street and AJC Bose Road does not offers much of choice in Grade A office space as more than three-fourth of the commercial buildings here are traditional and identified as Grade B and C office.
Although, it is not that you easily get commercial property in Kolkata CBD. According to property brokers, the vacancy rates are very low at the CBD locations. The observation is corroborated by industry reports that quote vacancy rates at Kolkata CBD between 0.50 and 1.0 per cent.
This is why quality commercial properties at the suburban areas like Salt Lake and Rajarghat are simmering with demand. The real estate professionals in Kolkata however say that the near term outlook on real estate investment in the area is positive, and would remain so until something goes in the wrong way.
