Real estate in Kolkata has been stagnant for quite some time this can be attributed to several factors. Firstly there are no employment opportunities for the young and therefore most of the young people prefer to shift out of the city. This worrying scenario has led to stagnation in real estate in Kolkata and reduction in rental prices.
Residential as well as commercial Kolkata properties have simply no takers. Due to unfavorable government and labour policies not many corporates are willing to shift to the city. Even though the city has a huge talent pool MNC's are unwilling to open an office in real estate at Kolkata. Most of the new constructions which were offering flats in Kolkata have also slowed down their work due to lack of demand. Real estate at Kolkata is witnessing rise in unsold inventor. It seems that almost nobody is interested to buy flats in Kolkata.
Also there are almost no infrastructure projects coming up in the city. Metro rail work too is going on in a painstakingly slow space. Although Kolkata is called the cultural capital of India the real state of Kolkata is seeing a bad phase. Roads in the city are in a pretty bad shape, frequent traffic jams and clogged roads has made life hell for commuters. Poor infrastructure facilities and lack of initiatives by government to improve the situation has also worsened the scenario for Kolkata properties. The government does not take a keen interest to improve the opportunities offered to the youth then Kolkata will see unabated population immigration. Although the capital city of West Bengal does house many industrial units but better facilities should be offered to corporates which will incite them to open more offices in the city. Only continuous efforts from the state government can help to improve the situation in Kolkata.
Residential as well as commercial Kolkata properties have simply no takers. Due to unfavorable government and labour policies not many corporates are willing to shift to the city. Even though the city has a huge talent pool MNC's are unwilling to open an office in real estate at Kolkata. Most of the new constructions which were offering flats in Kolkata have also slowed down their work due to lack of demand. Real estate at Kolkata is witnessing rise in unsold inventor. It seems that almost nobody is interested to buy flats in Kolkata.
Also there are almost no infrastructure projects coming up in the city. Metro rail work too is going on in a painstakingly slow space. Although Kolkata is called the cultural capital of India the real state of Kolkata is seeing a bad phase. Roads in the city are in a pretty bad shape, frequent traffic jams and clogged roads has made life hell for commuters. Poor infrastructure facilities and lack of initiatives by government to improve the situation has also worsened the scenario for Kolkata properties. The government does not take a keen interest to improve the opportunities offered to the youth then Kolkata will see unabated population immigration. Although the capital city of West Bengal does house many industrial units but better facilities should be offered to corporates which will incite them to open more offices in the city. Only continuous efforts from the state government can help to improve the situation in Kolkata.
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