City Search:KOLKATA

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Loan rate may in Kolkata

Posted on Nov 17, 2016
Home loan customers could see EMIs reduce by a fourth and prospective buyers may be able to buy a larger home, feel real estate developers in the city following SBI chairman Arundhati Bhattacharyas iteration that interest rate on loans will decline as banks are now flush with money following the demonetization.

Nandu Belani, president of the Bengal chapter of Confederation of Real Estate Developers Association of India (Credai-Bengal), sees home loans becoming more affordable over the next 12 months with a series of interest rate cuts. “We will know about the exact situation post demonetization when the Centre comes out with firm numbers. Interest rate cuts should happen early next year, followed by another round after the Budget. From 9.25-9.75% at present, home loans should be available at 7-7.5% around this time next year,” said Belani.

“If someone had budgeted an EMI of up to Rs 32,000 for a loan of Rs 30 lakh, the person can now take a loan of Rs 36 lakh. The enhancement of a persons loan capacity by 11-12% can translate to the person being able to afford a bigger home or more conveniently located property,” pointed out Belani.

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IHG Group unveils 1st hotel in Kolkata

Posted on Sep 02, 2016
International hospitality major InterContinental Hotels Group (IHG) is set to launch its first hotel under Holiday Inn brand in Kolkata before Diwali.The mid-market luxury hotel will be operated by IHG, which has joined hands with the city-based real estate developer Jain Group.The 'Holiday Inn Kolkata Airport' is located close to City Centre II in ...
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Kolkata sees rise in luxury home sales by 20 per cent

Posted on Aug 04, 2016
KOLKATA: With the sale of premium residential realty space in the city rising by 20 per cent in the first half of the 2016 calendar year from last year, the supply of these units also rose by 10 per cent, according to Cushman & Wakefield. Upcoming projects in areas like Chowringhee, Rawdown Street, Ballygunge and Jodhpur Park have helped a pick ...
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Aadhar Housing Finance expects over 70% growth in Bengal

Posted on Jun 23, 2016
Aadhar Housing Finance is expecting over 70 per cent surge in home loan disbursements this year in West Bengal following implementation of the Housing for All by 2022 and Smart City projects.The company CEO Deo Shankar Tripathi said the eastern region has witnessed a healthy rise in demand for affordable housing in the last few years.“We expect thi ...
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Siddha brings series of affordable apartments in Kolkata

Posted on Apr 26, 2016
NEW DELHI: Residents of Calcutta can soar into the sky with Siddha's newly launched series of skywalks in four of their upcoming housing projects Siddha Galaxia, Siddha Sky, Siddha Suburbia and Siddha Eden LakeVille.Siddha is among the country's first realty enterprises to bring skywalks to the affordable housing segment. Besides affordability, the ...
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Housing finance companies to lower interest rates in flood-hit Chennai

Posted on Dec 17, 2015
KOLKATA: Housing finance companies may lower lending rates by as much as 300 basis points to 8.5 per cent a year for reconstruction of affordable housing in the floods ravaged Chennai.National Housing Bank, which governs and refinances these specialised financing companies, has lowered interest rates to 6.5 per cent to ensure flow of loans at conce ...
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RBI rate cut expected to revitalize home-buyers

Posted on Nov 04, 2015
KOLKATA: With the RBI's rate cut expected to reduce the interest rate of housing loan by home-buyers and borrowing by developers, realtors said the move would act as a booster shot to the beleaguered industry. Sushil Mohta, chairman of Bengal chapter of Confederation of Real Estate Developers' Association of India (Credai), the umbrella organizatio ...
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Serviced apartments make posh entry in Kolkata

Posted on Aug 20, 2015
KOLKATA: Check into five-star luxury living without checking into a hotel.Posh serviced residences, a concept relatively new to Kolkata, is already proving a big hit with Novotel, which has 48 apartments at its New Town property, recording a near sellout. Three more star residences are on the way that will take the inventory to over 330 apartments. ...
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Sinclairs Hotels to add more hotels in West Bengal

Posted on Aug 18, 2015
KOLKATA: Kolkata-headquartered Sinclairs Hotels is planning to add more properties in West Bengal, beginning with a new business hotel in Kolkata."We have already acquired around one acre land in New Town Kolkata. Plans for a 114 room property have already been sanctioned. The hotel will have extensive banqueting facilities and two restaurants, bar ...
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Shapoorji Pallonji Group to create 20,000 affordable homes

Posted on Aug 18, 2015
The Shapoorji Pallonji Group has partnered with Standard Chartered Private Equity, IFC, a member of the World Bank Group, and the Asian Development Bank, to form a joint venture focussing on development of quality affordable housing projects in India. With a capital commitment of USD 200mn (equivalent to Rs. 1,250 crores), this is one of the larges ...
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Office space transactions down 70% in Kolkata during quarter ended June

Posted on Aug 13, 2015
KOLKATA: Office space transactions in Kolkata shrunk 70 per cent from a year ago to 0.25 million sq ft in during the quarter ended June due to low demand, showed a Colliers International India report.ITITeS remained as the key occupiers with 70 per cent share of the total absorption. Most of these transactions were at Sector V and New Town micro ma ...
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Home rentals go up in Kolkata

Posted on Aug 13, 2015
KOLKATA: Home rent in the city has spiralled up in certain areas, according to a recent survey by a real estate portal. At Jadavpur and Salt Lake especially, the rentals have been hiked by as much as 14% compared to the same time period last year. The presence of educational institutions and commercial establishments in nearby areas are the reason, ...
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Kolkata-based Forum Projects eyes distressed malls in Mumbai

Posted on Aug 11, 2015
Forum Projects currently owns two malls in Kolkata and are building six more in West Bengal, Jharkhand and Orissa.Mumbai: Malls across India are in distress with e-commerce catching up fast. Mumbai is no different. But Forum Projects, a Kolkata-based property developer, sees this as an opportunity to buy such sick malls at lower prices and turn the ...
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Ashiana partners Shriram Properties for Kolkata residential project

Posted on Aug 06, 2015
NEW DELHI: Realty firm Ashiana Housing has tied up with Bengaluru-based Shriram Properties to develop a housing project in Kolkata.In a filing to the BSE, Ashiana Housing said "the company has entered into a development agreement with Bengal Shriram Hi Tech City Pvt Ltd (a group company of Shriram Properties Ltd), for development of senior living a ...
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Siddha Group to start Galaxia II construction in Kolkata

Posted on Aug 05, 2015
Siddha Group, a leading real estate developer and marketer, is coming up with the second phase of Siddha Galaxia at Rajarhat New Town in the eastern fringes of Kolkata. Siddha Galaxia which began with 6 towers of G+11 buildings housing 347 apartments, is now almost ready for possession by September this year. Galaxia-II will have 8 towers of G+13 s ...
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Office space demand hits a high after 2014 slump in Kolkata

Posted on Jul 09, 2015
KOLKATA: After a rather trying 2014 when a slump in lease-and-rental market kept newly built plug-and-play offices vacant, a steady offtake in Salt Lake Sector V and New Town in the first half of 2015 has provided fresh impetus to the realty business.Companies have finalized deals for over 6.27 lakh sq ft in the first five months of 2015. Among the ...
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Small housing finance companies yet to lower lending rates

Posted on Jun 12, 2015
KOLKATA: Although the Reserve Bank of India is pushing lenders to make loans cheaper, a huge number of home loan applicants, who borrowed money from smaller housing finance companies, are yet to get the benefit of softer monetary policy.Smaller lenders are holding on to their rates because they said their cost of borrowing has not dipped much in th ...
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Localities offering highest rental returns in Kolkata

Posted on Jun 09, 2015
Neeraj Bose, who is currently living in Rajarhat, wants to invest in a property in Kolkata with the sole aim of earning high rental returns. Bose is not alone. There are many investors who are keen to invest in the realty market of the city. However, the more or less stable real estate market has kept such investors from benefiting.Though capital g ...
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Eden Group Launches New Residential Project - Eden Tolly Signature Plus

Posted on May 26, 2015
Based in Kolkata, Eden Group is a real estate company, committed to delivering great value to their customers in Kolkata. Recently, they have launched their new residential project, Eden Tolly Signature Plus at slashed down prices.This press release was orginally distributed by ReleaseWireKolkata, West Bengal -- (ReleaseWire) -- 05/15/2015 -- Based ...
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Eden Group Launches New Residential Project - Eden Richmond Park!

Posted on Apr 20, 2015
Eden Group is the leading real estate company in Kolkata that has off late built a formidable reputation for itself in the reality business. They primarily focus on meticulous planning, place attention towards architectural variations and relies on the cutting edge technology. Over the years, they have delivered inexplicable products to hundreds of ...
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