Kolkata Real Estate Sees A Stagnant Phase

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.

Plummeting Input Costs and Low Demand Rule Property in Ahmedabad

Ahmedabad Property at Makaan.com

Though Ahmedabad property market is all poised to garner the attention of retail market companies and investors, the real state in the city is not performing that well. The overall realty market failed to pick up in 2013, resulting in slump in rates of residential prices over a majority of its localities. Some of the high-end localities too underwent an appreciable decline in property rates. While the rate of fall across localities such as Ambavadi Maninanagar, and New CG Road underwent a Q-o-Q decline of 3-4%, property in Ahmedabad witnessed a sharp fall in Paldi, Naranapura, S G Highway, and Vasna over the same period. At Chandkheda, Vasna and Naranapura, the prices underwent a steep fall of 12-20% in the last quarter of 2013.

While in Gota, Prahlad Nagar and Drive-in-Road, the rates of property in Ahmedabad did upscaled, but the overall picture is not that convincing. The pitfalls for the same are several. The rapid pace at which low-income groups are shifting to urban areas has proved as a dampening factor for real estate in the city The increasing number of ghettos has become a cause of big concern for authorities. These slums are eating away the open spaces and green cover, leaving the developers with less available land. Moreover, these slums thrive on water and electricity acquired by illegal means, thus posing an extra burden on authorities.

The declining demand for Ahmedabad property has resulted in lower rates of inputs, especially cement. The price rates of cement went down by about 13% in last quarter of 2013. Unlike tier-1 cities, where it is very hard to imagine the input costs to decline even a bit, the prices have plummeted to a great extent in Ahmedabad. The real estate price rise in this city has also been a marginal number: a modest 3% price appreciation indicates that the demand from end-users is not up-to-the-mark.

Most Preferable Locations for Buying Ahmedabad Properties

Ahmedabad, tier1 city of India, has made a tremendous progress in terms of real state. The strong presence of infrastructure and good development potential are the primary reasons of the growth of its realty market. The development of integrated towns with cosmopolitan look have transformed the city, and today, its real estate stands at par with other metropolitans. For property-seekers, it offers a number of good options. Let's see what are these.

Motera: One of the most preferable choice for buyers of real estate in Ahmedabad is Motera. Fully developed, this locality is strategically located near Gandhinagar. Its connectivity to six-lane Visat-Gandhinagar Highway make it an important commercial hub too. Some of the high-end buildings are present in Motera. One of the the things that definitely goes in locality's favor is its congestion-sans roads. Nearness to Ahmedabad airport and presence of the prestigious Knowledge Corridor are some of the other reasons why it has gained preferably for real estate hunters. 

Bopal: One of the satellite towns, Bopal is another locality that has gained popularity among property buyers. Laced with good infrastructure, Bopal is connected by BRTS to Sun City. Since past few years, it has seen development of several properties in Ahmedabad. Presence of schools, banks, and a few high rise apartments make the locality a nice dwelling place.

S.G. Highway: This highway provides connectivity between Sarkhej and Chiloda, and has become a major transport commerce corridor in the city. The hitherto cheap land rates have increased appreciably. Ahmedabad's largest mega mall, ISCON, is present over this road.

Chandkheda: A prime residential locality, Chandkheda is a major suburban area of the city. Its presence of ONGC office is the reason why property hunters choose Chandkheda as their living place. 

A few other prominent residential areas of the city are Vastrapur, Vejalpur, Maninanagar, Thaltej, Prahlad Nagar, and Gota.