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[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Kyungwon staff of Kamagroup. Here I have important INDIA REAL ESTATE news to share with you which is as mentioned under.
While Indian cities grapple with a slump in home sales and a booming office market, Kolkata, one of the country’s four metropolises, faces the exact opposite.
Major developers in Kolkata say their focus on affordable apartments has helped prevent the price drops seen in other cities, though an unviable build up of commercial space has led to a plunge in rents and sales.
“The real estate market in Kolkata is only driven by actual users rather than investors,” said Harsh Neotia, chairman of developer Ambuja Neotia Group. While urban migration sustains demand for relatively cheap flats, in the commercial market “a huge capacity got built on the expectation of some boom in the IT and IT-enabled businesses,” which hasn’t played out, he said.
Read more https://economictimes.indiatimes.com/wealth/real-estate/kolkata-bucks-home-sales-slump-plaguing-other-indian-cities/articleshow/73553263.cms
Have a nice day.