Kolkata: The Kolkata submarkets witnessed positive appreciation in the rental values as compared to the previous quarter. Kolkata being the next realty hotspot, property prices and rentals are shooting up in some of the key areas of this city. Moreover the booming IT industry has lead to an increase in the demand for residential and commercial spaces.The increasing demand has thereby caused the property rentals to shoot up. The Kolkata rental markets have outweighed the sales market this quarter. Migrants moving into Kolkata prefer rental homes rather than investing in a brand new project put up for sale. A recent study of the Kolkata realty market has revealed that the newly launched projects are priced higher than actual price.
The rental values have witnessed a 40% hike. Despite of the hike rental homes still have not lost their charm. The demand for rental homes will certainly exhibit a positive trend in the upcoming quarter as well.