New IT & Electronics Policy to Drive West Bengal Housing Demand - ANAROCK Report

/ -- Services the fastest-growing sector with 15.6% growth in 2017-18
Housing prices declined in Q4 2016 after DeMo, but recovered within 4 quarters to register positive growth
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Anuj Puri, Chairman - ANAROCK Property Consultants, says, "While West Bengal's real estate market has witnessed only marginal capital values appreciation since 2015, some significant reforms by the State Government have infused a fresh spark into it. Controlled supply and stable housing absorption will be the order of the day. Though 1,25,000 units were launched in Kolkata between 2013 and Q3 2018, there was a serious supply-absorption mismatch in 2014. Fortunately, the supply became more controlled after that. Kolkata saw 86,000 units sold during 2013 - Q3 2018, with 2016 recording the highest absorption levels."

Nandu Belani, President - CREDAI Bengal, says, "West Bengal has witnessed a strong transformation of its IT-ITeS sector, with 12 established IT parks and 13 more to come. Despite initial hiccups and certain inherent growth-inhibitors, the state has now seen a mature resurgence in its work-culture, investment ambience and an uptick in its perception quotient. This report highlights the positives as well as some lacunae in West Bengal and presents a balanced view as a basis for further change."
Overall, the state is showing very positive signs:

Exports improved by 10.5% during FY 2016-17 over the previous fiscal Debt as a percentage of Gross State Domestic Product (GSDP) reduced from 40.65% in 2010-11 to 33.72% in 2016-17 West Bengal has topped the list of states in the Business Reform Action Plan (BRAP) with a 99.73% implementation score Click here to download the report 'Kolkata: The East's Icon of Balanced Growth'

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