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Kolkata properties see steep value appreciation in recent years

Posted on 21 November 2011

Market sources suggest that price appreciation in Kolkata has been one of the steepest in the country in the last two years. For a retail investor, the rate of return on his investment stands doubled, even in the fringe areas of the city and beyond. When compared against 2004, there is a near four-fold rise in prices in seven years.
Mayank Saxena, Managing Director- Kolkata, of Jones Lang LaSalle attributes the “exceptional value appreciation” in the city to “short-supply” of properties, primarily due to legal constraints such as Urban Land Ceiling Act and a slow legal process throttling availability of land for development………………………………………..Full Article: Source


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