For most home buyers, buying property is possibly the largest financial transaction they will ever make. You purchase a flat not only for the desire to own your own home, but also for other reasons – such as the need to relocate to a posh, well-connected locality that’s also within your budget (such as a flat by Eden Group).
Real estate is the second largest employer after agriculture – and the housing sector alone contributes ~5-6% to India’s GDP. But it is perceived to be the most corrupt sector of the Indian economy  – largely because of its unorganized and unregulated status, with no proper guidelines or proper redressal mechanism.
South Kolkata has emerged as one of the hottest residential destinations of Kolkata – because of its prime localities, location, affordability, range of options and higher appreciation potential.
After the recent demonetization move, there has been a lot of confusion among home buyers – and understandably so. As a result, buying decisions have been kept on hold until further clarity emerges.
The dream of living in a posh locality and building is deeply rooted in the average psyche of most Kolkatans. But we all know just how much those wants can cost you (a lot!). That’s the bad news.
The real estate market in the city is driven by the search of the buyers of getting the perfect home. This is a known fact that we all are worried about the economic meltdown and downside movement of realty market. Even though the real estate market is worried about this fact, but people are actually looking for owning their perfect home. The same scenario is visible in Kolkata as well. Seeing this scenario, a number of real estate developers are moving away from low cost investments. Many of them are going for land purchase beyond the periphery of the city of joy, Kolkata. Previously it was not the case as people used to think twice before buying a property at the outskirts. However, this is not the case anymore. People have different commuting options for moving to suburbs from the mail business central of the city. Transportation and communication have become lot better in last few years. There are different modes of transportation options available from one particular place to another in the city.
There are cities in India, such as Mumbai, Delhi, and Bangalore which are known as well developed. Per capita income as well as prices of properties is very high in these cities. Residents of these cities don’t mind spending money in properties these days as they find good future prospects in these apartments. Capitalizing on this human sentiment different small and large development companies are building their projects in and around the city. People from different parts of the country flock in the cities as good income prospects are quite evident.
Across the country the average prices of real estate housing projects have gone down by 15% to 20% in last 18 months. On last 9th December, CREDAI has clearly said that there’s no scope of further reduction in prices.
To enhance its offered facilities in real estate space, Quikr has acquired the much required real estate platform Realtycompass. The decision also has lot to do in complementing QuikrHomes as well.