Kolkata market report 2nd quarter


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the 2nd quarter 13-14 report

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Kolkata market report 2nd quarter

  1. 1. RE/MAX Kolkata-News With pleasure we share with you our second quarter report: News RESIDENTIAL: New Town, one of the top localities in Kolkata, is attracting the attention of real estate buyers . From affordable apartments to luxury villas, the area has an array of housing options. Quality infrastructure coupled with good connectivity through roads and local state buses and emergence of the IT companies in Salt Lake is acting as a catalyst in attracting buyers and investors. Flats are available in the range of 30-50 lakhs. This is the hot property area to make investments in. COMMERCIAL: Demand for commercial offices is directly linked to employment numbers which in turn depends on the economic growth rate. The revival of the commercial market mainly depends upon the industrial growth rate and consumer sentiments. In the present scenario, market is witnessing more demand for offices on lease in comparison to outright purchase, as there is no industrial growth and all time low business sentiment. INFRASTRUCTURE DEVELOPMENT IN THE PIPELINE : Metro railway network extension in places such as Howrah Maidan to Salt Lake Sector V, BBD Bag to Joka, Noapara to Barasat, New Garia to NSCB Airport, Dum Dum to Dakshineswar and Baranagar to Barrackpore are some important developments happening in the city. There are several new flyover projects in the pipeline. KMC NEWS: The procedure for property assessment is changing. In a step to put an end to the existing system, where the Kolkata Municipal Corporation makes general revaluation of properties every six years, the civic body now wants citizens themselves to give details of their houses/flats in a bid to make the assessment transparent. Do visit our website for viewing the listings: http://offices.remax.in/realty_solutions You can contact us at: Re/Max Realty Solutions, 61, Bentinck Street, 1st fl, Kolkata-700069 Or You can Call Us at: 033-40211100 & Email at: jaydip.mehta@remax.in
  2. 2. REGULATORY BILL: ENOUGH HAS BEEN SAID BUT IT IS TOO IMPORTANT NOT TO BE MENTIONED AGAIN. HIGHLIGHTS: 1. Mandatory to acquire all clearances before the launch 2. Use of Photograph of actual site for advertisements 3. Sale of property as per prices linked with Carpet Area 4. Real Agents/Dealers needs to register themselves 5. State Level Regulators and central appellate tribunal to be set up 6. Separate bank accounts for every project 7. Builders can’t take more than 10% advance without a written Agreement 8. Full refund with interest, if property not handed over time The Bill rules applies to project over 4,000 sq meters in size  Impact on Buyers: The regulation will save buyers from misinterpretations on layout and unit specifications, delays in delivery, other unethical business practices and failure from developers in meeting contractual obligations etc. Also it will save buyers from unorganized brokers and agents.  Impact on Developers: The bill will create a transparency level and will make developers more answerable on multiple levels. Also funds raised for the project cannot be diverted anywhere else. Although the draft bill has been cleared by the Union Cabinet, we believe it will take at least two years before the bill becomes an act. The bill has to be cleared by the parliament; it is likely to be referred to a standing committee during the process. Once the Central Government clears the bill (this is the election year), state governments will have to implement the bill, incorporating changes in accordance with relevant local laws(kotak view on real estate bill)
  3. 3. Price Barometer– Kolkata Demand for commercial property is sluggish while residential property is seeing good demand in the 25 to 50 lakhs bracket. Good projects of developers are available to take your pick. The prices are more or less stable although there is some dip of around 10% in the top end projects, but as developers have holding capacity we don’t see much erosion of prices. Property Rates & Trends of Multistory Apartment for April-June 2013 Residential: Location Price range ( Rs./Sq.ft.) Location Price range ( Rs./Sq.ft.) Alipore 12450-14900 Kasba 4200-4500 B.T.Road 3400-3700 Lake Gardens 5100-5700 Ballygunge 9800-12000 Lake Town 4600-5100 Ballygunge Circular Area 12000-15000 Lansdown Road 9800-12200 Banshdroni 3200-3400 Madurdaha 3500-4100 Barasat 2000-2700 Nayabad 2900-3000 Behala 3500-3700 New Alipore 6000-6500 Belghoria 2200-2500 New Garia Metro Station 3200-4000 Bhawanipur 8000-10000 Park Circus 6700-8300 Dum Dum 3100-3400 Prince Anwar Shah Road 3500-10500 E M Bypass 5300-5700 Rajarhat 3200-3600 Entally 6300-7300 Patuli 3600-3900 Garia 2900-4700 Rash Bihari Avenue 7700-9500 Gariahat 9000-10200 Ruby Hospital 6100-7500 Golf Green 3900-5100 Salt lake 5800-7100 Golpark 6200-7600 Sarat Bose Road 10800-13100 Hazra 8300-9300 Sealdah 6000-8000 Jadavpur 4300-4700 Sodepur 2800-3200 Jessore Road 3500-4300 Tegharia 3400-3800 Joka 2300-2800 Tolly Gunj 390-7000 Behala 8000-10000 Bhawanipur 12000-15000 Tollygunj 8000-10000 Ballygunj 13000-17000
  4. 4. Commercial: New Developer Tie ups 1. SIDDHA GROUP: Siddha is a high class real estate developer of Kolkata. Founded in 1986, Siddha has conceived, designed and built residential and commercial units and townships, at premium locations in Kolkata and Jaipur. Having prestigious projects in Rajarhat (new town of Kolkata) some completed , under construction and also in pre-launch stage, Siddha has a variety of offerings at a reasonable rate. 2. UNIMARK : Unimark is a leading Indian real estate development group founded by Mr. Harsh Vardhan Patodia, the current CREDAI chairman. The team has the vision of creating premium landmark spaces that showcase exemplary architectural design and construction quality, and provide a standard of service that is unsurpassed in the industry. All their projects are in the premium segment. 3. SHYAMPUR ENCLAVE : 1st Exclusive Tie up of Elegant Flats at Budge Budge @ affordable price 4. GREENTECH CITY: Internationally styled Duplex Homes and Golf Villas in the heart of nature. As the owner of a residence at Greentech City you will have access to all the world class facilities of the neighboring Vedic Village Spa and Resort as well as the myriad ayurvedic and naturopathic treatments at the Sanjeeva Medical Spa offered by experienced doctors and therapists from Kerala. The project will boast of having the biggest golf course in the city. On offer are golf bunglows, boat houses, duplex flats , and small flats with their own clubbing facilities. 5. GODREJ/ UNITECH RESALE : Great example how we benefit from the RE/MAX network. We have resale flats in Godrej /unitech/DLF/ Urbano from investors living outside Kolkata. E.M Bypass 8000-10000 New Alipur 10000-15000 Lake Town 10000-15000 Sealdah 10000-15000 VIP 10000-15000 Rajarhat 8000-10000
  5. 5. Value Buy– Siddha Group at Rajarhat (Resi) Studio/2/3/4 Bhk Apartment Range between 520 - 2025 Sq Ft. Modern life is about stepping up the ladder and moving ahead with the times. At the project, wind whistling through pine trees and bouquet of blossom's wafting in the breeze, life is so complete that you’ll never want to leave home. At The Project , presently comprising of 7 towers is built on acres of sprawling landscape greens on Rajarhat Main Road. Blocks Aspen, Birch and Cyprus are now complete. The towers are located in an exclusive demarcated residential zone with its own internal roads. Landscaped greens, walkways and play areas will provide shady retreats and recreation amenities for all minds capes. The apartments are spacious, cross-ventilated and well-lit Amenities :  Pine grove Park - Landscaped Green Areas and Children’s Play Area  Global Village - Residents’ Club  Lily Pool - Swimming Pool  Powerhouse - Gymnasium  Cones & Needles - Large AC Banquet Hall connected with the Lawn  Shuttle Up - Badminton Court Facilities :  State-of-the-art Fire Fighting System  Intercom Network  Sewage Treatment Plant  Rain Water Harvesting System  Power Backup—Generators*  Water Filtration Plant,24 Hours’ Water  Solar Lighting in Common Open Areas  Elevators of OTIS or equivalent  Dedicated Provisions Store MLS No. : 504034001-180 to 504034001-192
  6. 6. Project by the riverside– Unimark, Uttarpara (Resi) Premium homes that offer a stunning view of the Ganges. An exceptional location. World class architecture meticulously planned and internationally designed landscaped gardens overlooking the Ganges. The opportunity to immerse yourself completely at the River Island. World’s Class Wi-fi enabled Resident’s club.  Extensive 500 feet of river frontage  Direct view of Dakshineswar Temple  Unimpeded view of the river, ghat, boats and ferries  Connectivity to pure nature The project is uniquely located, where the view will remain enduring and soothingly unchanging. Where the location remains distinctively residential. Closely connected to the airport, bridges, hospitals, schools, colleges, malls, market, the railways station and the ferry ghat. Making it convenient to access any part of Kolkata  2 min from Uttarpara Ferry Ghat  3 min from Uttarpara General Hospital  4 min from Uttarpara Railway Station  7 min from Belghoria Expressway  9 minutes fro Dakshineswar Metro  12 min from Belur Math  14 min from Don Bosco Liluah  25 min from Airport.  Flooring – Vitrified tiles  Wall and ceiling  Counter – Single sink counter with granite countertop  Fitting and fixtures – Stainless  steel sink and provision for  CP fittings – Jaquar or equivalent MLS No: 504034001-193
  7. 7. Our Listing Project–Green Tech at Rajarhat- (Resi) Internationally styled Duplex Homes and Golf Villas in the heart of nature. Every unit has a private lawn, flanked by a mini garden which slopes down a canal that meanders through the property. As the owner of a residence at Greentech City you will have access to all the world class facilities of the neighbouring Best Western Premier Vedic Village Spa and Resort as well as the myriad ayurvedic and naturopathic treatments at the Sanjeeva Medical Spa. You have a choice of 3 or 4 bedroom Duplex apartments and 3,4 or5 bedroom Golf Villas, each impeccably designed for a contemporary lifestyle of comfort. You will also be entitled to membership of the upcoming entertainment zone at Vedic Village, which will include Bowling alleys, Tennis courts, Cricket arena, games arcade and various adventure sports. LOCATIONAL ADVANTAGES:  10 kms from CITY CENTRE II  7 kms from RABINDRA TIRTHA, RAJARHAT  5.5 kms from DPS, MEGACITY  0 kms from VEDIC VILLAG As a die-hard golfer, you live, breathe and dream the sport. Now take it to the next level. Live on a Golf Course. Imagine, being surrounded by and able to indulge in your favorite sport anytime of the day, all day long. 24 hours. . SELLING PRICE: Rs 2600 psf for 1 & 2 BHK (650-950 sqft) and for 3 BHK Rs 2750. (1300 sqft) NO PLC. DUPLEX HOMES from 2000 to 2600 sq ft Rate: approx. (from INR 60 Lacs to INR 79 Lacs) Expected date of possession:  April/May 2014, 2.2/2.3 yrs from now CONSTRUCTION STAGE:  SMARTHOMES, excavation in process. MLS No: 504034002-23 & 24
  8. 8. Our BA Strength JAYDIP MEHTA Expert in networking relationship has used the groups goodwill to tie up with all the major developers in Kolkata. Spearheading a team of enterprising associates to service the property clients. ATUL DESAI Expert in Bhowanipur area. Tied up with two big Developers- Greentech city & Regent Group. Has a good broker network to source the best deals for clients. RAVI MUDALI The background in construction work has helped him to get promoter tie ups and also give valuable advice to clients on assessing the property. RAVINDER GARG Our latest associate with background in the field of finance is focusing on Rajarhat area the hottest destination for Kolkata with an upside to almost double from current levels.
  9. 9. RE/MAX is a 40 years old international brokerage company which sells the maximum real estate in the world and has the international expertise of successfully operating in more than 92+ countries across the globe with value chain of 100,000 + Real Estate Agents operating out of 7000+ Offices RE/MAX India has appointed 120+ Offices across India in 50 cities, which makes RE/MAX the fastest growing Real Estate Brokerage Network in India. REMAX Realty Solutions the Kolkata franchisee is owned by Sheth Group in Kolkata who are in business since 1950 , in various sectors. The Group Stalwarts are: Mr. Khimchand Mehta, Mr. Pradip Sheth, Mr. Tushar Mehta, Mr. Viren Mehta, Mr. Tejas Mehta and Mr. Jaydip Mehta who is heading this division. The experience of the seniors accompanied with the entrepreneurship of the young generation provides a lethal combination for any business group. Our good connections with various top Builders in Kolkata help us to provide a huge inventory of properties, some of which you can see listed by us on this site. As a Broker office we provide a full fledged organized setup with trained Agents to help you in your property deals. We also give value addition to our clients through tie-ups for services like Legal advice and Banking loans. We have on offer around 200 properties in and around Kolkata from the top developers. Our valued clients, please contact us to buy/sell/rent your properties. Call us if you require any help regarding your properties or to get a valuation of the property done. If you want to buy or sell properties anywhere else in India please call us, we will get it done through our network pan India. Do visit our website for viewing the listings: http://offices.remax.in/realty_solutions or www.remax.in You can also contact us at : Re/Max Realty Solutions, 61, Bentinck Street, 1st floor, Kolkata-700069 Or You can Call Us at : 033-40211100 & Email at : jaydip.mehta@remax.in