Housing in India

Real estate in Kolkata has had its own share of ups and downs. It did not escape the wrath of recession. And although the real estate market in Kolkata may have come to a standstill for a short while but it soon came out of this state and was able to ward off the worst of times. Kolkata is a metropolitan city which is the 3^rd largest and is also known as the City of Joy.

 

Earlier price of property in Kolkata was reasonable and it was assumed that it is much lower than property prices that exit in other metropolitan cities However, as the city is emerging stronger in the real estate market, the prices are gradually increasing.

 

However, there is nothing to worry as low cost homes in Kolkata are being built by many builders and developers. And this is a real cause of joy especially for people who have not been able to own a house of their own due to high price of property.

 

In fact the concept of low cost homes in Kolkata or affordable homes in Kolkata has caught attention of many real estate builders and developers in the city. And more and more builders and developers are coming up with such projects in the property market in Kolkata,

 

The real estate builders and developers who take up low cost housing projects in Kolkata do not compromise on quality. They tie up with the local landowners and use low cost construction materials which otherwise would be expensive if they had to be brought in from other cities or states. Two of the prominent real estate builders and developers in Kolkata undertaking low cost homes in Kolkata are Shapoorji Pallonji and Co and Tata Housing.

 

A common trend that is being observed in real estate market in Kolkata is that majority of the builders and developers are not only undertaking housing projects that cater to the premier class of people or the Higher Income group but they are also offering affordable homes in the same housing complex.

 

The fact that most of the complexes have all the modern amenities like health club, swimming pool, community center, shopping complex etc makes all these accessible to the people belonging to the LIG as well as MIG if they buy an apartment in the same complex.

 

TATA Housing is expected to build low cost homes in Kolkata this year. In fact it has undertaken low cost housing projects in several cities and some of them include –

 

 

In the year 2008, its low cost housing project popularly known as “Shubh Griha” greatly appealed to the people belonging to the lower income group. Low cost homes in Kolkata slated to be built by TATA Housing is expected to get completed by the year 2011. Housing projects undertaken by TATA Housing are usually undertaken as joint ventures or are standalone projects.