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Kolkata provides the largest real estate market in East India. In fact, among all the metro cities, the city recorded the highest growth rate in the sales of residential real estate during the first quarter of 2021 (January-March) compared to the last quarter Q4 (Oct-Dec) of 2020. Based on the latest reports of the market, Kolkata has witnessed a three-fold jump in numbers (201%) during the period, bringing good news to real estate developers in Kolkata. In Kolkata, the sale of residential units in Q1 2021 concentrated in hot spot housing projects in kolkata southern suburbs (Joka, Kasba, Behala, Jadavpur, Tollygunge) and eastern suburbs (EM Bypass, Rajarhat, Topsia) with a combined contribution of over 70%.
Top 5 Real Estate Developers in Kolkata
Knowing the positive market situation of real estate Kolkata, let’s observe the top 5 real estate developers in Kolkata and how have they have kept their boat afloat during all these years in the market—
Established in the year 1985, PS Group has experience of over three decades and has earned itself the name of one of the most reputed, trustworthy, and leading real estate builder in Kolkata. The company has over 100 joint ventures and more than 130 completed projects to its credit. PS Group is one of the top leading real estate companies in East India with a presence in over 4 Indian cities, over 25 green projects, and more than 70 awards and recognition. Furthermore, the group is a founding member of the Indian Green Building Council.
PS Group has over 30 projects underway and over 130 completed projects under its belt. Furthermore, PS Group lays special emphasis on sustainable living and has 15 Green Buildings under construction and over 100 completed joint ventures. Yes, you are thinking what we are thinking, PS Group is definitely one of the top construction company Kolkata. Furthermore, PS Group is also known for its philanthropic services. Institute of Leadership, Entrepreneurship and Development is a CSR initiative of PS Group & Srijan Group established to educate leaders for a better tomorrow.
Some of the best residential projects by PS Group are as follows—
Top 2bhk and 3 bhk flats in Kolkata by PS Group
– PS 102 2bhk and 3 bhk flats in Joka
– PS One 10, 2 bhk and 3 bhk flats in New Town Action Area 1
– PS The Soul, 2 bhk, 3 bhk and 4 bhk flats in New Town Action Area 3
– PS Eternia, 2 bhk and 3 bhk flats in Madhyamgram
Top luxury apartments in Kolkata by PS Group
– PS Navyom 4 bhk, 5 bhk and duplex apartments in New Alipore
– PS Jiva 3 bhk and 4bhk flats in Phoolbagan
– PS Aurus 3 bhk, 4bhk, 5bhk flats off EM Bypass
– PS Vyom, 3 bhk and 4bhk ready to move flats in New Alipore
– PS Amistad 3 bhk flats in New Town Action Area II
– PS Anassa 4 bhk and 5 bhk flats at EM Bypass
– PS Panache 3 bhk flats in Saltlake
- Merlin Group
Established in 1984, Merlin Group has the reputation of being one of the eminent conglomerates in real estate India. The company has a plenitude of popular residential and commercial complexes, office buildings, townships, shopping malls, resorts, industrial estates, clubs, etc to its credit. With an experience of over three decades, the group has a strong presence across Kolkata, Ahmedabad, Raipur, Pune, Chennai as well as Colombo. Merlin Group is one of the most reputed real estate developers in kolkata with experience of over 33 years, and over 20 million sq ft of development experience. Over the years, Merlin Group has completed over 100 projects, over 50% sales from referrals, and has over 500 acres of landbank across India.
Merlin Group offers residential projects in varied configurations—from 1 bhk to 4 bhk premium flats in Kolkata. Some of the notable upcoming projects by Merlin Group are—
– Merlin Next, flats in Behala;
– Urvan, flats in Dum Dum;
– Merlin X, 2 bhk flat in tangra
– Elements, flats in Saha Road
- Jain Group
With an experience of more than three decades, Jain Group is one of the most dynamic companies in the verticals of real estate, hospitality, and finance in Eastern India. Rightfully making its mark as one of the top real estate developers in kolkata, Jain Group has a series of residential and hotel spaces at strategic locations in Kolkata, Siliguri, Jharkhand, Bihar, Odisha, and Durgapur to its credit. The company has also earned a sought-after name in the field of automobile finance with the establishment of Topaz Motors. The aegis of Jain Group ‘Dream Homes’ is a trusted brand among real estate projects in Kolkata. Furthermore, the Group has diversified into the development of 5 Star Hotels in Kolkata, Durgapur and Siliguri.
Some of the company’s notable accolades include National Award from S. P. Jain, Mumbai for marketing innovation in 2017; National Award from CRISIL for Affordable Housing in 2015; National Award from CNBC for Affordable Housing in 2013.
- Mani Group
Mani Group has a diverse portfolio with strong foundations in the residential, retail, education, healthcare and hospitality sectors. With an experience of more than three and a half decades since 1980, Mani Group belongs to one of the leading real estate developers in kolkata. The Company has developed more than 25 million square feet across 50+ properties and is working steadily towards developing in and around Kolkata, Durgapur, Jaipur, Siliguri and Bhubaneswar, and has 11 million square feet more to offer across Kolkata, Bhubaneswar and Durgapur.
In the 100-acre IQ City township in Durgapur, Mani Group has ventured into eduhealth with a focus on creating Knowledge & Health Campus with projects like IQ City Medical College and Hospital, IQ City Institute of Nursing Sciences. The Group’s verticals spread across Residential, Retail, Commercial, and Education and Healthcare. With retail projects in Pink Square, Jaipur, and hospitality projects like Courtyard by Marriott in Siliguri, Mani Group is spreading its footprint in Rajasthan, Maharashtra, Karnataka and Odisha.
Some of the notable projects by Mani Group are—
– The 42— Eastern India’s tallest tower. The project is a 62-storeyed iconic structure standing at the heart of Chowringhee.
– Mani Vista— 3 bhk & 4 bhk luxury apartments in Tollygunge
– IQ City— an integrated township in Durgapur that is spread over 100 acres, with 50 acres dedicated to education, healthcare, entertainment, retail, and leisure.
- Ambuja Neotia
With a legacy of 120 years, Ambuja Neotia is one of the most prominent real estate developers in kolkata. The company has a diverse portfolio with a strong forte in residential and commercial real estate in kolkata, hospitality, healthcare, education, start-up incubation. Its first project Udayan—Kolkata’s first Condoville built on Public-Private Partnership model, earned Shri Harshavardhan Neotia, the prestigious Padma Shri in 1999. The Group has a reputation of continuous evolution and is providing the people of Kolkata tastefully designed apartments and smarter, greener work spaces for better work-life balance.
Some of the impressive upcoming residential townships by Ambuja Neotia are—
-Usshar—tallest towers near River Ganges in Maheshtala
– Utalika—offers residential condominiums in Mukundapur.
In closing
The sustained growth in sales within Kolkata’s real estate market insinuates the growing demand in the sector and buyer confidence. Furthermore, stagnant property prices, historically low home loan interest rates, lucrative payment options from real estate developers and government incentives such as reduced stamp duty are other factors contributing positively to Kolkata’s real estate business. Lastly, the ease of lockdown restrictions, vaccination drives and the phenomenon of Work from Home are also responsible for a surge in property sales.
FAQs
Understanding real estate development is not easy, and there are many paths to a career in the real estate development business. However a career as a developer can be life-changing in a good or bad way! So, try getting in touch with a seasoned veteran.
Below are some tips to start with—
1. Research and evaluate the opportunities in the market.
2. Pick and choose a specialty in the field like renovation and re-lease of buildings, purchase of raw land and the sale of developed land, etc.
3. Obtain the required licenses and registration.
4. Chalk out a business plan.
5. Put together a brilliant team.
6. Go online and create a website.
A career as a real estate broker is one of the highest paying and lucrative professions in the real estate industry. On average, veteran brokers take home a six-figure pay. You can only achieve this number once you get a good reputation.
The real estate market in Kolkata is strong and buying a flat in the city is an excellent investment opportunity. Real estate is one of the most profitable investments in India, with prices going up by an average of 2-5% year on year.
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