The real-estate market in Kolkata has been largely unaffected by the soaring inflation and the US economic crisis, developers and experts say. While the sales and price figures in other metros and cities have shown signs of cooling down, the prices in Kolkata have increased by 7-10 per cent over the last four months.
In their opinion, the city has managed to avoid a crisis because prices here had never reached unrealistic proportions. Kolkatas real-estate market is also relatively stabilisedsince the number of speculative investors here is much less compared with end-users.
The proportion of end-users vis-À-vis investors is 70:30, says Mr Sanjay Chowdhury, Regional Head, Emaar MGF. Prices in some other cities had to undergo a correction because they were inherently over-priced. Prices in Kolkata never appreciated so much and have always been realistic in nature, he says.
More : thehindubusinessline.com
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