The real estate dynamics of Kolkata are changing at a very fast pace. The realty market is on a high due to a combination of factors such as - the arrival of reputed MNCs and big corporates looking for the right addresses and a sudden increase in the number of developers of upmarket property.

Residential
The market for residential property has witnessed a distinct movement as Kolkata is breaking with the past. Projects of reputed builders such as DLF, Unitech are burgeoning in the peripheral suburban areas of Kolkata due to the emergence of Kolkata as an upcoming IT destination of India. Upscale localities and highrises have started dotting the city's skyline.

The residential market in Kolkata has a large number of Public-Private-Partnership (PPP) projects. Under such partnership, the Government agencies like the West Bengal Housing Board have taken up joint ventures with private corporates. New Town, adjacent to Salt Lake is one such example, which is on the verge of opening up 40,000 units in the first phase, being offered by the West Bengal Housing Infrastructure Development Corporation Limited (HIDCO).

Commercial
The commercial market in Kolkata has witnessed large number of inquiries coming in from multinationals. Most of the property demands are from the domestic and international retail chains to set an upward trend in the commercial market. For MNCs and Corporates, apart from Salt Lake or Lansdowne Road parts of C R Avenue, Rawdon Street, and Ballygunge Circular Road are also set to get a more upmarket status.

In the coming days, demand for office space is expected to be generated by players such as call centre operators, insurance companies, information processing outfits and restaurants. A Sizeable demand has already been generated by entertainment-cum-shopping complexes, and this trend is likely to continue in the near future.

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