Real estate fund managers do not opt to invest in Kolkata real estate

It has been revealed tat neither domestic nor international fund managers who funnel money into India's real estate market have any thinking to invest in Kolkata but prefer cities like Mumbai, Bangalore, Pune and the National Capital Region. Even tier III cities like Jaipur, Nagpur and Chandigarh are in their list but no Kolkata. In fact, they are wary of laying their bets on Kolkata.
This has been reported in telegraphindia.com dated 23 January 2016.

The revelation is from a study by JLL India that attempted to define investor preferences in 2016. There wee 40 respondents and not a single one of them chose the city as one of the destinations to invest. The report is "Peering into 2016: Taking Pulse of Investors Preferences". The study dealt with institutional investors and half of them are international, and not individuals. After the real estate sector opened up to them, institutional players have, till now, invested $26 billion in India.
JLL India did not give any idea of why the reluctance but other real estate analysts lay the blame on the usual suspects - absence of big-ticket investments in the state and the resultant job creation that usually fuels the demand for apartments. This could be the reason for Kolkata dropping off the radar.

Image courtesy wikimediacommons.org

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