West Bengal’s new IT policy to disseminate the IT-ITeS activities across the state for the benefit of the population in the fringe and rural areas. It will be a game-changer for the state’s real estate market as well as its larger economy. This is one of the many highlights of the report ‘Kolkata: The East’s Icon of Balanced Growth ‘ by knowledge partners ANAROCK at CREDAI StateCon.<\/p>\n
The report emphasises West Bengal’s aim to spread the reach of IT\/ITeS across the state will help replicate the success of Eastern Kolkata in other parts of the state.<\/p>\n
Anuj Puri, Chairman – ANAROCK Property Consultants says, “While West Bengal’s real estate market has witnessed only marginal capital values appreciation since 2015, some significant reforms by the State Government have infused a fresh spark into it. Controlled supply and stable housing absorption will be the order of the day.”<\/p>\n
“Though 1,25,000 units were launched in Kolkata between 2013 and Q3 2018, there was a serious supply-absorption mismatch in 2014. Fortunately, the supply became more controlled after that. Kolkata saw 86,000 units sold during 2013 \u2013 Q3 2018, with 2016 recording the highest absorption levels.”<\/p>\n
Property prices increased from INR 4,160 per sq. ft. in Q1 2015 to INR 4,405 per sq. ft. during Q3 2018, registering a growth of 2%.<\/p>\n
Residential price trends witnessed a nominal decline during Q4 2016 due to DeMo, but recovered in less than four quarters to register positive growth.<\/p>\n
Nandu Belani, President – CREDAI Bengal says, “West Bengal has witnessed a strong transformation of its IT-ITeS sector, with 12 established IT parks and 13 more to come. Despite initial hiccups and certain inherent growth-inhibitors, the state has now seen a mature resurgence in its work-culture, investment ambience and an uptick in its perception quotient. This report highlights the positives as well as some lacunae in West Bengal and presents a balanced view as a basis for further change”<\/p>\n
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West Bengal’s new IT policy to disseminate the IT-ITeS activities across the state for the benefit of the population in the fringe and rural areas. It will be a game-changer for the state’s real estate market as well as its larger economy. This is one of the many highlights of the report ‘Kolkata: The East’s […]<\/p>\n","protected":false},"author":3,"featured_media":2891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[2616,2617,2615],"class_list":["post-2890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-eastern-kolkata","tag-real-estate-market","tag-west-bengals-new-it-policy"],"aioseo_notices":[],"yoast_head":"\n