The Estimate: Will Property Prices Will Hike In Coming New Year in Kolkata

“Though we are going through pandemic situation, yet many people want to know if the land prices will go high in the coming times or not. This article will provide useful information on the same. Read thoroughly”.

 

Of course, the impact of corona virus has risks many businesses and many thousands of people unemployed. With a fall in each industrial sector, the confusion is at its peak if real estate company business will drop-down the property prices incoming New Year.

 

Over the estimate, the expectation says that Kolkata has a possibility of a surge of 10-15% property rates of land or constructed buildings (like apartments, offices, godowns, etc.). This is a rough institution for the first 3-6 months. However, if we count overall construction cost, that has gone up to 12%, and the labor rate has increased by 20%. This drastically bothered many builders, tenders, and construction business owners. The rising cost has, of course, ensured the chances to rise with the upcoming year.

 

Precisely, property prices per sq feet are expected to increase by Rs 350 (INR) to Rs 400 (INR), as many reliable property builders claim. This is, of course, a surprising part for customers who were in the mood to plan for property investment especially looking for purchase. There are ample reasons that lead to a considerable rise in the real estate business, such as raw materials, labor cost, construction expenses, fuel prices, and more.

 

The Reasons For Property Rise Even Land Prices In Kolkata:

 

1. Raw Materials: The overall requirement on constructional raw materials is the prime factor causing property rates to be high in the city. If you are unsure of the actual pricing of the property, then explore a reliable real estate company in Kolkata or the state (West Bengal).

 

2. Labour Costing: Manpower is always a crucial factor when it comes to construction projects, and the size of the project actually decides the movement of money among labor. In fact, the labor rate varies from residential constructional sites to commercial projects. This is a permanent reality that labor pricing will affect the property rates across the country over the next few months or with the coming year.

 

3. Project Size: Yes, of course, the construction project size also ensures high to massive money investment. The bigger the project, the more is the investment for labor, raw material, and other management resources. There is a difference between the development of one home, a godown, and a building fledged with multiple apartments, thus increasing cost.

 

4. Fueling and Other Resources: The country faces a high price of fueling, affecting each industry. The much distance for transportation of raw materials, labor, and other resources ensures project increase with rates.

 

A Note for New Property Buyers or Sellers in Kolkata:

 

For Sellers:

 

Land is easy to get in Kolkata, yet the idea is to get all inspections personally done. Moreover, you need to understand the market trends of the plot with price value. If you have a plot for sale in Kolkata, it is good to check for the reliable classified section over the web or in print media before exposing your property to sale. Apart from selling the land, if you want to give your constructed property on rent or else on sale, then also stuck with ongoing marketing on both residential as well as commercial property.

 

For Buyers:

Sooner or later, if you want to invest in property, especially in developed cities like Kolkata, it is good to explore. You need to pick the topmost real estate company if you want a good home, office, or land for sale in Kolkata. Value your money and, just above that your time, get a reputed real estate developer to help you with better options in the land, apartments, office buildings, posh colony bungalow, etc., as per your requirement.

 

The Bottom Line:

 

There is no point in waiting longer, as, in months of the coming year, the estimates tell on increment for property rates in a metro city like Kolkata. The important factors with price high in raw materials, labor, fueling, etc., will affect the rates on both residential and commercial sites. Even the land price in Kolkata will let you shred more money, so look for the best options on your budget and needs and get your own property done as soon as possible.

 

Author Bio: Roma, a real estate blogger writes on various real estate related facts. In this article, she has shared some useful information on the rising property prices in coming times. Read her articles to know more about real estate industry.