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Kolkata Turns to Real Estate to Unlock West Bengal Growth
Real estate means places where people live, work, or do business.
Industry leaders say Kolkata and West Bengal could attract more development and investment.
One speaker said rules such as the Urban Land Ceiling can make development harder.
A report says India’s real estate market has grown a lot and may keep growing.
It expects the market to reach $1 trillion by 2030.
Homes are an important part of this growth.
Smaller cities are also becoming more active, and areas like data centres, warehousing, and hospitality are expanding.
The report expects real estate to support more jobs and contribute a larger share of India’s economy.
A real estate industry leader urged investment and development in Kolkata and West Bengal, calling for the removal of barriers including the Urban Land Ceiling.
CREDAI and ANAROCK Research & Advisory estimate India’s real estate market grew from $120 billion in 2017 to about $600 billion in 2025.
The report projects the market will reach $1 trillion by 2030 and nearly $5.8 trillion by 2047.
Residential sales value in India’s top seven cities rose from ₹2.35 lakh crore in FY22 to ₹6.10 lakh crore in FY26.
The report says the sector’s GDP contribution could reach about 13% by 2030, with employment expected to reach 30 million.
- Who
- Real estate industry leaders, including CREDAI President Shekhar G Patel, and the CREDAI-ANAROCK report authors.
- What
- Industry leaders promoted investment in Kolkata and West Bengal, while a report outlined growth in India’s real estate market.
- Where
- Kolkata and West Bengal, within the broader Indian real estate market.
- When
- The report gives estimates for 2025 and projections through 2047; residential sales figures cover FY22 and FY26.
- Why
- Industry leaders said improved infrastructure and connectivity could strengthen economic corridors and create opportunities for housing, businesses, and investment.
Key facts
- Market size
- Estimated to have grown from $120 billion in 2017 to around $600 billion in 2025.
- Market projections
- Projected to reach $1 trillion by 2030 and nearly $5.8 trillion by 2047.
- Residential sales
- Sales value across India’s top seven cities rose from ₹2.35 lakh crore in FY22 to ₹6.10 lakh crore in FY26.
- Quarterly sales
- Residential sales remained above ₹1.3 lakh crore for seven consecutive quarters.
- GDP contribution
- Real estate’s contribution to India’s GDP is projected to rise from 6% in 2017 to around 13% by 2030.
- Employment
- Sector employment is expected to reach 30 million by 2030.
- Emerging activity
- Tier-II and tier-III cities, data centres, warehousing, and hospitality are identified as growth areas.
Quotes
Shekhar G Patel
CREDAI President
“As infrastructure and connectivity improve across West Bengal, they can strengthen economic corridors, bring emerging cities into larger development networks and unlock new opportunities for housing, businesses and investment.”
businesstoday.in
“Kolkata is a city of rich past, but now let’s hope we can have an optimistic future. Kolkata and West Bengal present the greatest opportunity for development in India because we need to upgrade at every level.”
businesstoday.in
Sources
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