What are the current market trends in Kolkata when it comes to residential property?
Since the last 8-10 months, the consumer trends in the city have shown a big change. Today, the average age of a first time buyer of a house is 28 or even younger. Earlier there was a concept that people bought homes only once in a lifetime. Today this has changed. Now people are buying many homes during the course of their lifetime. Another prevalent trend is the fact that now people are preferring to buy ready-to-use houses. What with the RBI tightening the noose, the market has also softened a bit in the last 8-9 months. However, I feel this is for a short term. After 6-9 months, things are expected to pick up. Now, many luxury apartments costing around 3-4 crore are coming up in the city with many takers. Do you think this trend is sustainable? This is a demand-supply scenario. Now there is a spurt in these luxury apartments. The city is currently showing a demand for this supply. How would you compare the property market in Kolkata with say, Mumbai and Delhi? Kolkata can still giv
