Real estate market of Kolkata and Hyderabad
Kolkata and Hyderabad are two comparable cities with tons of potential and a robust real estate market. Both Kolkata and Hyderabad can be classified as Tier II cities trying to catch-up with the big boys. This presents them with tremendous growth opportunities and avenues. This also makes real estate markets in both these cities more affordable and stable. Both these cities have seen heavy investment in their real estate sectors in the past decade or so. Demands in both these markets are stable hence these cities are ideal choices for investors to invest in. In fact much growth seen in the real estate sector in these two cities is due to investors investing in these two real estate markets. Both Kolkata and Hyderabad are expanding and are investing heavily on infrastructure improvement. All the real estate giants such as DLF, Godrej, Unitech and more have undertaken multiple projects in both of these two cities. As both Kolkata and Hyderabad are capital cities of their respective states buying properties here does make sense.
Similarities and differences between Kolkata and Hyderabad
There are many similarities between Kolkata and Hyderabad and the real estate market of both these cities but there are many differences too. In terms of demand, prices, projects, outlook and returns both the markets have their differences. Kolkata is famous as the ‘City of Joy’ whereas Hyderabad as the ‘City of Pearl’, this description itself points towards the more capitalist nature of Hyderabad over Kolkata. Although both of these cities attract a substantial migrant population from all across the country but Hyderabad has more corporates and a booming IT sector thus it attract more people who come to Hyderabad for white collar jobs. Thus people migrating to Hyderabad command more purchasing power than people who migrate to Kolkata. No surprise then the growth trajectory of Hyderabad real estate market is projected to be better than that of Kolkata. Real estate in Hyderabad is flourishing due to many a factor, be it prices or infrastructure or ROI for investors or the IT industry but Kolkata is also not very far behind.
Land prices across Kolkata and Hyderabad
Easily the most important factor for the real estate market in any city is the land prices, which in turn decides the prices of flats, offices and apartments. So how are the land prices in Kolkata and Hyderabad comparable to each other? Both Kolkata and Hyderabad, as a matter of fact any city has their own glitzier, posh or upmarket area, localities and parts of the city where the rich and famous of the said city reside. In Kolkata these places are the Salt Lake, Newtown, Rajarhat and others, whereas in Hyderabad it’s the Banjara Hills, Jubilee Hills area and more. Then there is the rest of the city and the usual under-development parts of the city. Land prices in Kolkata and in Hyderabad for various parts of the city are quiet comparable. But land prices in Kolkata have seen a slump in recent time. The real estate market of Hyderabad was also stagnant due to the recent political turmoil which is now over after the formation of the Telangana state. You can get more information about properties in Hyderabad on Propstory.Com
Comparison Kolkata vs. Hyderabad real estate market
Hyderabad is a dynamic city; land prices here are on an upturn, whereas the recent performance of the Kolkata real estate market has been less than desired. There have been plenty of new launches of major projects in both these cities in the recent past, in fact Kolkata has more launches in comparison to Hyderabad including the Trump towers but still demand in Kolkata has remained modest at best, which had led to many incomplete projects too. As stated earlier today land prices in both the cities are quite comparable. An individual can buy land in both these cities at comparable rates today but Hyderabad has a better growth prospect for future. This phenomenon offers its own challenges and opportunities for the potential investors. Like for instance due to lower demand an investor is more likely to land a sweet deal in Kolkata but as the demand is bleak he may not see any appreciation in the property rates at least in the short and medium term.