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Kolkata is India’s second-largest city and serves as the financial capital of eastern and north-eastern Indian markets. Last year, the city experienced a high demand for residential and commercial properties across affordable, luxury, and mid-range segments. Kolkata’s office property sales grew by 20% (YoY) and the office leasing market grew by 11%. Kolkata’s residential market registered a 16% growth in sales volume. Noticing the upward trend, investments in Kolkata’s real estate market are soaring.
Summary
• Kolkata’s real estate markets are experiencing a period of high growth. • In 2023, residential and commercial property sectors in Kolkata registered 16% and 20% YoY growth respectively. • PS Group, Mani Group, Vinayak Group, Ambuja Neotia, Sugam Homes, Merlin Group, Unitech Limited, Arch Group, Primarc Projects, DLF, Orbit Group, Godrej Properties, and Danish Construction are the most popular real estate companies in Kolkata. • Real estate developers in Kolkata are building premium, luxury, and affordable housing projects, commercial properties including offices, retail outlets, and malls, and large-scale projects like Software parks and integrated townships.
Founder: Pradip Kumar Chopra and Surendra Kumar Dugar Founding year: 1985 Headquarters: Kolkata, India Revenue: $ 10 – 50 million
PS Group’s residential complexes are designed to cater to the expectations of young families who want to live in a thriving community. After delivering several top-notch luxury residences and commercial real estate in prime locations, the company has turned its focus to large-scale affordable housing projects across Kolkata.
Founder: Sanjay Jhunjhunwala Founding year: 1980 Headquarters: Kolkata, India Revenue: $ 25 million
Mani Group is best known for its wildly successful commercial and retail project Mani Square. The group’s vibrant portfolio extends across luxury and affordable residential properties and high-value commercial projects across India. Apart from real estate, the company has made significant investments in hospitality, retail, health, education, and sustainable energy sectors.
Founders: Balkrishan Kyal and Umesh Kyal Founding year: 1988 Headquarters: Kolkata, India
Vinayak Group has a strong presence in land development, residential, and commercial projects in Kolkata city. The company’s budget-friendly housing projects have attracted a wide customer base. With inventive layouts and impressive infrastructure, the company professes a deep commitment to customer satisfaction in all its projects.
Founder: Harshavardhan Neotia Founding year: 1990 Headquarters: Kolkata, India Revenue: $ 100 million (2022 – 23)
Ambuja Neotia is a colossal player in India’s real estate, hospitality, education, and healthcare sectors. The company has re-defined Kolkata’s property ecosystem with concepts like condovilles, City Centre malls, and business parks. Ambuja Neotia’s business interests and presence across India continue to expand.
Founder: Ashok Saraf Founding year: 1986 Headquarters: Kolkata, India Revenue: $ 2.4 million
Known as a pioneer in affordable housing, Sugam Homes properties maintain high standards of workmanship and a quality living experience for residents. The company has several large-scale mid-segment housing projects and commercial developments to its credit, including central Kolkata’s tallest luxury condominium.
Founder: Sushil Mohta Founding year: 1984 Headquarters: Kolkata, India Revenue: $ 10 – $ 50 million
Merlin Group is known for venturing into uncharted territories, and over the years, has proved its mettle in diverse formats in both the residential and commercial sectors. Merlin Group’s portfolio includes luxury and affordable homes, serviced apartments, country homes and bungalows, office buildings, IT parks, clubs and resorts, and stadia and townships.
Founders: Ramesh Chandra, Dr S. P. Shrivastava, Dr P K Mohanti, Dr Ramesh Kapur, and Dr. Bahri Founding year: 1971 Headquarters: Gurugram, India Valuation: $ 300 million (market capitalization) Revenue: $ 200 million
Unitech Limited has a wide overreach across construction, consultation, and marketing services in real estate. The company is regarded as a frontrunner in integrated residential townships consisting of villas, apartments, offices, retail spaces, and amenities like schools and clubs. It has also developed some of India’s best-known IT / ITes complexes and luxury malls.
Founder: Rabindra Bachhawat Founding year: 2005 Headquarters: Kolkata, India
Arch Group is a prominent real estate developer that offers design, development, and leasing services in Kolkata. The company specializes in the development of Build-to-Suit (BTS) commercial properties. It also owns and manages multiple corporate and office spaces. In the residential segment, the company has delivered several luxury and affordable projects.
Founder: Nand Kishore Pansari Founding year: 1997 Headquarters: Kolkata, India
Primarc Projects has several flagship projects in both residential and commercial segments in its portfolio. Each of its projects is thoughtfully designed and constructed with unmatched attention to detail. Its portfolio includes several uber-luxury housing projects and strategically located commercial properties.
DLF is India’s largest publicly listed real estate developer and its footprints can be traced across the country. Designed with a critical focus on functionality and technology, DLF properties have built a loyal clientele in both residential and commercial segments.
Founding year: 1997 Headquarters: Kolkata, India Revenue: $ 13 million
Ensuring customer satisfaction has cemented Orbit Group’s position as a market leader in the residential property segment. The group has developed many iconic luxury and affordable housing projects in Kolkata and across several cities in East India. Every project has been developed to match customer expectations in terms of quality, pricing, and location.
Primarily active in the newly developed New Town Action Area in Kolkata, Danish Construction has made its niche in the individual G+ building development and cooperative housing societies. In just a few years, the company has successfully delivered 90+ projects in this thriving neighborhood.
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