Ease Of Obtaining Land At Economical Rates Works In Favour Of Tier-2 Cities

The real estate sector is showing signs of recovery. Harshavardhan Neotia, Chairman, Ambuja Neotia Group, spoke to BE’s Saptarshi Deb regarding the emerging trends in the real estate market.

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Q. A number of high-end housing projects are coming up in Kolkata. Do you think Kolkata presents a good market for this segment?

A. Kolkata is the only metropolis in eastern India and hence, it is witnessing traction from people across the region. The highend properties in Kolkata are catering to individuals from other parts of the country and abroad.

The commercial office market has also somewhat improved in Kolkata and this has partly impacted the residential market.

Q. What are the emerging trends in the luxury segment?

A. The luxury segment has evolved over the years. Today's luxury buyer is well-travelled and exposed to the global features and standards. Buyers are seeking a lifestyle synonymous with luxury internationally. To differentiate projects, developers are focusing on niche USPs like public art, great design, and architecture, as well as comprehensive, well-provided for residents’ clubs and in some cases, high-end spas.