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The city was the East India Company capital for many decades, until the British switched over to Delhi and Bombay for the lure of the lucre. The land of India’s rising sun relegated into the background. The Howarh Bridge over the river Hoogley silently saw itself going down the pages of history. In the 1990s’ post liberalization when most multinationals were flocking to Mumbai, New Delhi, and South Indian cities, the eastern capital of West Bengal lacked the attraction for any real estate activity.

Property in Kolkata was hardly something one wanted a few years back with no opportunities. Nevertheless, the city, quietly is growing slowly in comparison to other cities. Commercially even south East Asians are coming to Kolkata. Like an Indonesian company is already contemplating to set up an IT park and SEZ in the city. This is likely to give a boost to many job opportunities too. 
 
The scenario now is that of development of real estate activity in many areas –both residential and commercial. Some big deals have surprised realty trends in the city and the global agencies. One of the biggest and most ambitious projects to have come up in the city is the huge residential and commercial complex comprising of 35 stories. This is largely an effort of a group of developers who have got together. Called South City, it is easily the biggest in the East of India.

 It is spread over 31acres and is being built on a land, which was a factory and had been lying defunct for decades.  Some reputed firms and landscape architects will design the 35 storeyed towers with help from foreign counterparts. Although realty trends in the city have not hit the roof as they have in other cities, in some areas there are apartments, which are being sold in the region of a crore.

Some of the biggest real estate developers in the country like DLF and Unity have taken interest in developing some of the potential areas in Kolkota. Property in Kolkota is steadily on the upswing. The shopping mall, multiplex and food court culture is all set to grab Kolkata like other Indian metros. The communist capital now is open to the luxury segment and does not mind living in grander homes. Alipore, Firpo, Labrunum have palatial homes of the new rich and famous. Merlin Greens and Princeton by the Merlin Group, South City, Sanjeeva towns are already under way to change the face of the Kolkata skylin

 

 

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