Major influx of investment in Kolkata's IT sector leads to a surge in apartment sales

Kolkata, slowly but steadily is turning out to be one of the most preferred destinations for homebuyers seeking affordable & luxurious residential options. With major metropolitan cities going through a rapid transformation, apartment sales are expected to find more buyers.

As per the developers in Kolkata, this recent expansion has been due to a major influx of investment in the city's IT sector, which continues to attract people from North-eastern states, Bihar, Jharkhand, among others.

Additionally, realty companies have focused mainly on building affordable apartments and smaller houses, encouraging people to invest with confidence. “We have, in the last 2-3 years, strategized our plan of constructing apartments according to the need of smaller families, since a majority of buyers migrating from other cities are either bachelors or couples,” opines a realty expert at Dharitri Infraventure Pvt Ltd, a Kolkata-based real estate developer.

Currently, more than one-third of the office spaces in the western India's metropolis lie vacant, which is a major sign of worry. Furthermore, even the rents and sales have plunged in the last few years.
According to a recent study, home prices in Kolkata increased by 3%, indicating a strong realty demand. This is completely opposite of the situation prevalent in other cities like Mumbai, Chennai and Delhi.