The Real Estate Industry, West Bengal:Future Predictions
Investors who want to stay ahead of the competition must comprehend the direction that real estate is headed in. Unravel the truth of what lies ahead in the long run.
The future of real estate investment in West Bengal seems to be positive with an increase in investment proposals and a rise in homebuyers’ activity.
Here is a comprehensive breakdown of the future of real estate investment in West Bengal:
Impact of COVID-19 pandemic on Kolkata’s real estate
- The COVID-19 pandemic had an adverse effect on Kolkata’s real estate sector, leading to a decrease in activity for the last two years. However, post-pandemic, homebuyers are now ready to take action. Moreover, credai approved builders in kolkata are of the view that real estate industry is likely to gain strong & positive momentum in 2023.
Investment proposals and job creation in West Bengal
2. West Bengal has received investment proposals worth Rs. 342,375 crore (US$ 44 billion) during the Bengal Global Business Summit (BGBS) 2022. According to real estate investment advisor kolkata, it will generate around 4 lakh jobs. The State Budget 2022–23 has also allocated Rs. 825 crore (US$ 106.62 million) towards the Housing for All scheme. These initiatives are likely to boost the real estate sector in the state.
Stronger growth expected in West Bengal’s economy
3. The industry in West Bengal expects stronger growth in the fiscal year compared to 1.2% growth registered in 2020–21, when the country’s economy had contracted by 7.7%. Attracting fresh investments from corporate bigwigs will be crucial for the state in 2022.
Overall, the future of real estate investment in West Bengal seems to be positive, with initiatives such as the Housing for All scheme and investment proposals in the state. Despite the adverse effects of the COVID-19 pandemic, homebuyers are now ready to take action, and the real estate industry is likely to gain strong and positive momentum in 2023. Attracting fresh investments from corporate bigwigs will also be crucial for the state in 2022.
Conclusion
Credai Bengal is an advocacy group for real estate developers in Kolkata, West Bengal, India. One of their main events is the Home Front, which is their oldest property exhibition. Every year, they conduct real estate carnival in kolkata and real estate fair in kolkata for all the enthusiast of this field.
The 2023 edition of the Home Front exhibition is set to take place on January 28–29, 2023, at City Centre 1, Salt Lake in Kolkata, from 11 am to 8 pm. Home Front 2023 is touted as an event where visitors can explore the fine homes sculpted by the big names of Kolkata’s real estate industry. It appears that Home Front 2023 will feature a variety of exhibitors, including developers and builders, who will showcase their latest projects, products, and services. Those interested in exploring this real estate exhibition in kolkata as it will surely be informative and worthwhile to attend.
So, apply for credai partnership programm to upskill and upgrade your knowledge in the realty sector.
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