Kolkata realtors launch fewer projects due to delay in approvals and clearances
It has been quite some time that Mamata Banerjee took over the rein of West Bengal after 34 long years of Left Front rule.
Search Results: Kolkata (348)
Jones Lang LaSalle facilitates Kolkata’s largest commercial property acquisition for Ambuja Realty
In one of the decade’s largest real estate deals in Kolkata, Ambuja Realty has acquired the RMZ block of Ecospace Business Park in New Town, Rajarhat, Kolkata.
The Kolkata residential property market today
Kolkata is fundamentally a Tier II city, and its real estate market is not as volatile as those of the primary cities. Because of this, Kolkata’s residential property sector was not as seriously impacted by the nationwide slump in the real estate market as cities like Mumbai, Delhi, Pune or Hyderabad.
Large & listed developers commanding real estate market in India
Evaluation of the real estate brands has never been as challenging in India as it is now. After all, the large & listed real estate developers across the country are exhibiting identical patterns with their performance. Nearly all of them are witness to their best-ever fiscal topline as well as stock performance. The combined market share, fiscal performance and market cap of some 20-0dd listed real estate companies would be more than half the revenue of Indian real estate.
Affordability curve tilted against home buyers in 2025
On a scale of 0-100, the Housing Sentiment Index has been noted to be just 18; with 82% Indians categorically believing that housing is just not affordable to them. A vast majority of them, as many as 80%, believe it would take no less than 10 years of their gross income to afford a house in any of the leading Indian cities. The global benchmark is 5 years of gross income with not more than 40% of take-home salary. But 78% Indians believe it would take no less than 60% take home salary to buy a house in India.
Housing prices in top eight Indian cities continue to rise, at 11% YoY: CREDAI – Colliers – Liases Foras
Average housing prices across the top eight markets in India rose 11% YoY at INR 11,000 per sq ft during Q3 2024, led by sturdy demand and positive market sentiments. Interestingly, average housing prices have increased for the 15th consecutive quarter since 2021. All the eight major cities saw an annual increase in housing prices with Delhi NCR witnessing the highest rise at 32% YoY, followed by Bengaluru at 24% YoY rise during the quarter. After registering record high sales over the last two years, the demand momentum across the top cities is stabilizing. Nevertheless, with anticipation of healthy residential activity in the last quarter, 2024 is likely to end on a strong note.
Delhi-NCR leads the property price rally with 57% YoY growth: PropTiger.com Report
The western cities of Ahmedabad and Mumbai, along with the southern tech hub of Bengaluru, all experienced healthy price appreciation in the 15-21% range whereas Chennai in south and Kolkata in east saw robust growth of 22% compared to the previous year, indicating strong economic activity and housing demand in these metros. This trend points to sustained demand in these economically vital centers. Pune, often seen as a more affordable alternative to Mumbai, also saw an 18% increase, suggesting it’s maintaining its appeal for homebuyers while still seeing significant price growth.
Luxury home sales surge 37.8% in first nine months of 2024
The surge in demand for luxury housing has been primarily attributable to a growing preference among affluent buyers for enhanced amenities and more spacious living areas that complement their multifaceted lifestyles. Moreover, the increasing aspirational class has significantly contributed to the increased demand for luxury properties. Furthermore, the rise in NRI and astute domestic investors in the Indian real estate market has considerably fueled the heightened demand for luxury residences.
Office leasing likely to record a historic high of ~70 mn. sq. ft in 2024 across top 9 cities in India
Office leasing is likely to record a historic high of ~70 mn. sq. ft in CY 2024 across top 9 cities in India as per current estimates, says ‘CBRE India Office Figures Q3 2024’. The last highest office leasing was recorded in CY 2019 at 66.6 mn. sq. ft. The office demand will be driven by both global and domestic occupiers, who are expected to continue expanding their operations and consolidating their facilities to strengthen their market presence. GCCs are poised to expand significantly in India, accounting for about 35-40% of the total office leasing.
India emerging as a global manufacturing hotspot
In a report titled, ‘Fortifying India’s I&L landscape with a new manufacturing growth formula’, property consultant CBRE claims that the manufacturing sector’s growth has significantly contributed to warehousing demand. The share of sectors catering to the manufacturing space, including engineering & manufacturing, electronics & electricals and auto & ancillary sectors, within the total warehousing demand across major cities, has increased substantially, growing from 15% in 2019 to 24% in 2023 and 25% in H1 2024. The total leasing for warehousing from these manufacturing-related sectors stood at 4.1 mn. sq. ft. in H1 2024.