Kolkata, the city of joy has been witnessing a sluggish off-take of Real estate projects in spite of the city’s relentless attempt to give a push to the concerned field. Regardless to say that in comparison with the other metropolitan cities, Kolkata has been really lagging behind in terms of standing out amongst the crowd. Recently, a Cushman & Wakefield research has found that Kolkata is going to have a requirement less than a Lakh real estate unites within the next few years. There is no doubt that this ratio will lead the city to get the lowest rank among every metro city in India.
In this study, the reputed residential services company Cushman & Wakefield has projected a requirement of around 97,300 real estate unites in Kolkata between 2014 to 2018. According to this study, more than half of the requirements would derive from the low-incoming section. Around 34% requirement is projected to derive from the middle-income section, while the rest would come from people belonging to the higher-income brackets.
As per the sources said, around 34% requirement is expected to come back from the middle-income workforce, while the rest of the demand may come from the people from bigger-revenue brackets. In line with the document, the delivery of real estate models in the cosmopolitans would remain flat between 2014 and 2018 at around 65,600 items. It is expected to have more than half of the presents to belong to the middle-income group, whereas the demand would be projected mostly within the lower-income group.
The above-mentioned study has shed a light on the current state of Kolkata real estate project that is undergoing a bad-patch presently. The persistent tenacity of the end-users for finding the perfect home has though helped the current scenario of real estate projects in Kolkata experience a discernible progress these days. Despite the national meltdown as well as the global economic meltdown, the aspirant end users of realty are bunching several projects in search of a perfect residence. This current trend has become palpable even in Kolkata these days. Remaining under the wings of this ongoing trend, the residential developers in Kolkata have succeeded in leaning towards their own inhibition of delving into low-cost residences. Now they are not even hesitant to invest in lands that are even beyond the boundary of Kolkata.
A couple of months ago, such trends were hugely criticized since the middle-class population had a very few option for commuting from the suburbs to the major business districts in the city. Today, the improved transportation and communication of Kolkata have brought oodles of ease in terms of having a hassle-free communication all across the city of joy. Hassle-free communication and cost-effective transportation facilities have undoubtedly led many real-estate projects including the upcoming residential projects in Rajarhat etc. to bloom with great expectations.
Providing a number of luxury residential amenities, easy communication, hassle-free transportation etc the new residential projects in Rajarhat have earned oodles of public appreciation from every nook and corner of the city.
Credited from: www.storeboard.com
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