rakesh

"If you have the money, buy. And buy now, before the prices shoot through the roof," says Kolkata builder Jitendra Khaitan. "Property prices in the metro are just beginning to go up. Last year, we saw some areas appreciate fast – New Town, for example, surged 100 per cent, while Diamond Harbour and Joka shot up 60 per cent," he says.

"In the next five years, Salt Lake will be the centre of the city and values here will appreciate tremendously," adds Khaitan.

"Kolkata is on an upswing, and as long as the present government of Buddhadeb Bhattacharya is in the saddle, the pace of developments is expected to continue," says Pranay Vakil. Areas to buy? Rajarhat, EM Bypass and areas in the vicinity of Salt Lake and New Town. "With companies like TCS and Godrej showing a major interest and the upcoming developments on the Bata land and the Salim group developments, the city is coming into focus. Prices are slated to go up for the right projects," says Vakil. Who should buy? "If I had the money I would buy," quips Vakil. "Kolkata is a very practical market. You can buy a two-bedroom apartment in the Rs 10 lakh bracket or in the Rs 4 crore bracket," says Khaitan.

kolkataproperties

"The realty boom in Kolkata is long awaited and genuine. Kolkata had always been neglected and shadowed under political happenings. For decades it has been the efforts and dedication of mothers in taking personal care for the education of their siblings. Their life revolved around the school, regular interaction between the parents, their kitty parties and discussion about the school, follow ups and feedbacks. The renaissance in the attitude of the mothers which started 30 years ago in a massive scale bound to have an immense impact on the society today. Today we have these siblings grown up as genius and IT crats. Their talents have been recognised around the world. IT companies are coming to Kolkata from far away lands to avail their services. When even ten years before their was an unemployment problem for a twenty five year old, today he has the capacity to purchase a property worth 20 lakhs. Kolakta has a double impact of the IT boom which perhaps other cities do not have. A significant percentage of the IT industry in India and all over the world comprises of the Kolkatans who are now investing in their homeland. A bilateral effect. Real Estate Market of Kolkata has already made 100% escallation( Highest in India) in last one year and now it will grow and only grow till it reaches a parity somewhere near Delhi & Mumbai. If the State Government maintains its current spirit, it will not be surprsing if Kolkata surpasses the rates of all in the country in next ten years.

subirchanda

Yes you are correct. Since last year property value of very few places in kolkata has gone up. If you have money you can buy flat in the complex with amenities immediately before shooting up the price. But before buying you select the right place with reasonable value of the property. In my sence Rjarhat-New Town is the best place for buying property in Kolkata. Price of the property in Rajathat - New town are is still reasonable. Every year look of Rajathat-Newtown is changing. Unlike Kolkata main city it is well planned, beautiful, green and peaceful area. You can expect a very fast appreciation of the value and the area will be fit for living within 3/4 years. You should buy the complex in this area which will be ready in the year 2015 only. Stretch the instalment payment till 2015. So many properties are there in this are which you can look for. Siddha pines, Siddha Sphere, Silver Oak Estates, Ideal Enclave, Purti Star, Highland Willows etc.

gharondabhai

Kolkata RE market is predominently driven by end users and hence recession or boom, rain or shine, price steadily increased over the period. and it will continue to increase until there are more investors in market than end users.

Just 3-4 years later people will fall off from their chair to learn that Rajarhat project was selling at 1200 psf in 2006/7.

But dear, all the projects that you mentioned are Rajarhat Road projects, not Rajarhat projects (except Highland Willows). Hope you understand the difference.