| 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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