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Which real estate company is best in Kolkata

The Kolkata real estate market is flourishing. Although it is one of the sectors which got the worst hit due to the pandemic, however, Kolkata’s real estate market has been managed extraordinarily. Now it has no need to mention that the market is flourishing because the people in Kolkata are investing in the real estate market. So it is important for people to know which is the best real estate company in the market.

Buying a home is a dream for many and undoubtedly it is a huge investment so, it is important to research the right real estate company first. A good real estate control many things like the quality of the construction, legal authorities of the property and so on. So today, here I am with a bog which will help you to choose the real estate company of Kolkata and additionally will focus on the necessity of choosing the right real estate company as well.

So, let’s start with a list first.

1. Realtech Nirman, Kolkata:

Realtech Nirman is one of the leading real estate companies in Kolkata. Realtech Nirman is serving the Kolakat real estate market for a decade now.

Mr Shishir Gupta and Mr S K Nasir started this journey together and one of the best parts of this company is their ethical approach towards the business. They believe that ethics and authenticity help a company to grow and this factor is highly beneficial for you as a consumer.

They have more than 2500 satisfied clients and this factor helps in depicting the trust factor they have for this company. Also, they provide user testimonials on their social media handles. You can go through those testimonials for beer understanding.

They already have 18 completed projects and Realtech Nirman believes in the highest customer experience so these projects are situated in the heart of the city with all the best amenities. For example, one of the most successful projects of Realtech Nirman is Rajmahal and it is just 2 kilometres away from Aliah University, Amity University. Not only this, it is just 3 km away from the metro station, 9 km away from the airport and 10 km away from the railway station. Additionally, it is just a few km away from TCS, Unitech, and Unitech Infospace which are the famous work sectors of Kolkata. Novotel and The Westin are just 3 & 4 km away from this respectively, Bellvue Hospital, Ohio Hospital, Bhagirathi Neotia and Tata Medical Centre hospitals are 2 & 3 km away. Isn’t it one of the best places for living? The others project of Realrtech Nirman also has these features with them.

Well, amenities an important for living, however, for good living the most important factor is the environment. All the projects of Realtech Nirman have great ambience and they pay good attention towards maintaining the greenery in the apartment which helps in managing good health for the residents.

At the same time, these all projects have a community hall, well-equipped gymnasiums, a swimming pool, parking places and a playing area for kids. So in a nutshell, Realtech Nirman doesn’t just build houses, they build homes with the responsibility of making your dreams true.

It is important to mention that here you will be able to get all the real estate-related services like buying, leasing, developing, and hiring residential and commercial complexes under a single roof and they are doing all these works by using the long-earned experience which will help you choose from a wide range.

You will get an EMI calculator on their website too. So what are you waiting for?

2. PS Group, Kolkata:

PS Group have been established in the year 1985 and since then are serving the real estate market of Kolkata continuously. PS Group has a special focus on delivering high-end luxurious projects with all the amenities for life and this is making them one of the most popular real estate companies in Kolkata.

They already have 100-plus completed projects. PS Group focus on green development initiatives which include modern waste management methods which help in creating a great consumer experience.

PS Group is serving the real estate company for 35 years now and this is the reason for their experienced touch in all the projects they are creating. It is important to mention that they have won many awards for this.

If you are looking for a property in EM Bypass, PS Group can help with this.

3. Merlin Group, Kolkata:

Merlin Group has been established in 1984 and currently they have extended their footprints to other cities like Ahmedabad, Raipur, Pune, Chennai and one new country as well which is Colombo.

Merlin Group is also famous for creating high-end luxury apartments and they also pay a good amount of attention to the consumer facilities. Apart from the residential buildings they have a record of making 100 office buildings, retail outlets, malls, country homes, IT buildings, hospitality establishments, hotels and resorts.

4. Srijan, Kolkata:

Srijan is one of the famous names of the Kolkata real estate market. Apart from Kolkata they also work in Asansol and Burdwan in Eastern India & Chennai.

This is not all about expanding their business but also this expansion is helping them to work with different people and enhancing their experience as well.

Srijan started its journey as a real estate marketing company (NK Realtors) that evolved into real estate development in 2003. Currently, it has 14 completed projects and they have some top ongoing projects as well.

Although I have mentioned 4 groups in this list which have a great consumer experience and really some good projects in their bag. Choosing is up to you. However, I have successfully given an idea of the best real estate companies in Kolkata and how are doing currently.

Now is the time of focusing on the factor of the necessity of choosing the best real estate company for your home.

1. Ethical values:

It is important to focus on the legal side of your home. It is an asset for your life and not only for living, you can rent or sell out it later and for this, it is important to have all the legal validities.

On the other hand, if you are buying a home through a bank loan, you have to show all the details to the bank. Despite of government’s strict guidelines many real estate companies are still not registered with the National Association of Realtors (NAR). This is helping them to manage many illegal affairs like not paying taxes. However, these are reputed builders and for them, reputation and legal validation is the most important thing ever.

In this case, it is important to mention that Realtech Nirman has a legal team to look after all the issues and other builders also have teams like this.

2. Availability of property:

As I have mentioned that most real estate companies are managing a lot of projects right now. So you have a wide option to choose from. For example, Realtech Nirman has 10 ongoing projects. Now depending on the budget and other amenities you can choose your dream home. This helps in reducing the stress of hunting for homes. Another additional value is that most of the real estate companies are multitaskers. So you will be able to find different services under one roof. For example, in Realtech Nirman you will be able to get buying, leasing, developing, and hiring residential and commercial complexes under a single roof.

3. Smooth buying experience:

Reputed real estate companies are working in the real estate market for a long and they know how to bargain and most importantly how to do business.

So it is much more convenient for to you have all the transactions.

They will first listen to your budget and requirements and will offer property from their wide range of properties. As they maintain a legal procedure so it will be easier for you to get the loan. They can help you in the legal affairs as well. After getting the loan as they have legal papers it will be an easy job for you to close the deal. So in a nutshell the journey of getting your dream home will be dreamy as well.

Final word: Buying a home is always special and a great way of investment. So make sure you research well.

Has Real Estate Projects Been Affected By GST?

The year 2017 had seen its ups and downs with the advent of demonetization itself. Before even, we saw the face of stability, sales, and launch of new homes went down because of more focus on under construction projects by the developers. The real estate saw a further downfall when the government introduced a 12% GST on under construction real estate projects along with other goods and services. However, the only ray of hope was seen when the leading developers increased their market share every 3 months and developers and investors from Mumbai and Pune contributed more than 45% on demand and supply of the whole country. The GST has had its impact on all sectors and here we discuss how it can affect your dream of moving into a new home.

Impact of GST on Under Construction and Luxury Real Estate Projects

Ongoing residential construction services are subjected to 12% tax with total input tax credit (ITC) and are non-refundable in case of surplus ITC. Developers in Tamil Nadu, Karnataka, and Andhra Pradesh can expect improvement in margins (up to 12% from 10-11%) due to the availability of input cost credits provided there is no price revision in future. The top real estate builders in Kolkata, who do not fall under these regions may increase their property prices by 6% with no input credit available to them.
In case the credits are passed on completely by the developers, the base price is expected to come down and the home buyers are the one to gain from this under the GST rule. Although stamp duties will be applicable in case of both under construction and completed projects.
Property under the luxury real estate projects are subjected to 12% ITC and is not adequate to bring down the tax liability due to overhead taxes. Only the basic construction cost is supposed to lower by a very thin margin in case of luxury projects.

Impact of GST on Ready Properties

Ready properties for sale can wave off the GST only if the OC for the project has been established. According to a report from CRISIL, excise duty and VAT paid by a developer was different for every state. This disparity has been sorted out by imposing 28% and 18% GST on cement and steel and 28% on paint and other white goods. This has led to 12% tax on the final product. The tax amount applicable to the land and the entire cost is 12% which makes it easier for the developers to avail the input credit. The home buyers are thus relieved of the GST liability.

However, the developer has to pay the GST on the complete project and the input credit is only claimed on the construction cost. This causes a gap of 30% which the builder in order to bridge will raise the price of the property whether or not you choose to buy a ready-to-move-in or an under construction property.

What to expect?

After the demonetization in India last year, many potential buyers were expecting a drop in real estate prices which wasn?t happening.
With 2018 budget, buyers can expect reduced stamp duty rates and home loan rates. If the Government looks deeper into the matter and realigns the stamp duty rates with the GST rates or waives off stamp duty rates, the price of property an witness a subtle fall which is beneficial for home buyers in 2018.
Presently under the GST regime, real estate is applicable for 18% tax along with only 1/3rd abatement for land. Since the share of land in metro cities is more than half of the total project cost, it is not wrong to vouch for increment on abatement of land to 50%.

Government Plans for Real Estate Projects-2022

The ‘Housing For All By 2022’ venture by the Government targets at delivering 10 million houses out of which 95% is to be constructed for Economically Weaker Sections (EWS) and Lower Income Groups (LIG). People are expecting lowered tax rates from 18% to 12% GST on property purchase with abatement for land raised to 50% hence bringing down the tax rates to further 6% GST. This program can prove of huge advantage to the actual cause of the project by the year 2022. For those looking forward to purchasing new residential projects in Kolkata, can hope for a better scope in the coming 2 years.