Market Commentary - Kolkata
Kolkata is the capital of the Indian state of West Bengal and located on the east bank of Hoogly River. It is the principal commercial, cultural, and educational centre of east India, while the Port of Kolkata is India's oldest operating port as well as its sole major riverine port. As of 2011, the city had 4.5 million residents; the urban agglomeration, which comprises the city and its suburbs, was home to approximately 14.1 million, making it the third most populous metropolitan area in India.
The per square feet rate for property has appreciated by 6.14% from Rs. 3,751/- to Rs. 4,083/-. The average per square feet (psf) rate for the city is around 4,083/-.
Over the last 6 months the property prices have dropped by 6.7%; the rates have dropped from Rs. 4,317/- psf to 4,083/- psf.
Last three months saw a drop of 3.72%. The rates have moved from Rs. 4,291/- psf to Rs 4,083/- psf.
Top 5 localities in Kolkata on the basis of maximum real estate action are New Town, Rajarhat, Garia, EM Bypass, and Tollygunge.
Top 10 localities of Kolkata are
Renting
In terms of Renting, the city has experienced a negligible drop of 3.5% in property prices over the past 1 year. The per square feet rate for property rental has dropped from Rs. 15.39/- to Rs. 14.71/-. The average per square feet (psf) rate for the city is around 14.71/-.
Over the last 6 months the property prices saw a depreciation of 4.19%; the rates dropped from Rs. 15.45 psf to 14.71 psf.
Last three months saw a dip of 0.19%; the rates have dropped from Rs. 14.94/- psf to Rs. 14.71/- psf.
Top 5 localities in Kolkata on the basis of maximum rental real estate action are New Town, EM Bypass, Tollygunge, Salt Lake and Lake Gardens
Top 10 localities of Kolkata are
