Table of contents
Undertaking i
Certificate iii
Acknowledgments v
Abstract vii
Table of contents xi
List of figures xi
List of tables xiii
1 INTRODUCTION 1
1.1 Background 1
1.2 Research Aim 1
1.3 Research Objective 1
1.4 Research Questions 2
1.5 Need for Study 2
1.6 Research Methodology 3
1.7 Scope and Limitations4
1.8 Research Timeline4
2 Literature Review- 6
2.1 Real Estate Investing - Market Analysis, Valuation Techniques, and Risk Management (2015) By Benedetto Manganelli 6
2.2 Assessing the Market Value of Real Estate Property with a Geographically Weighted Stochastic Frontier Model (Samaha & Kamakura, 2008) 10
2.2.1 The Efficiency of Real Estate Markets 11
2.2.2 Accounting for Geographic Heterogeneity in Hedonic Price Analysis12
2.2.3 Assessing the Value of Residential Real Estate with Hedonic Price Analysis12
2.3 How to Analyze Rental Property Investments (2019) By Matt Frankel, CFP 15
3 City Profile of Kolkata and Real Estate Markets 17
3.1 Understanding the city 17
3.1.1 Urban Expansion of KMC from 1990 – 2014 19
3.1.2 Distribution of Urban settlement within KMC 21
3.1.3 Development Control Plan of CMC (Calcutta Municipal Corporation) 1996 22
3.1.4 Evolution of Land-use in KMC 24
3.1.5 Administrative Division of the city 27
3.1.6 Developing connectivity of the city28
3.2 Policies and their Impact:30
3.2.1 Kolkata Environmental Improvement Project (KElP) (2013) 30
3.2.2 WB IT Policy (2013) 31
3.2.3 WB Housing Industry Regulation Act (HIRA) (2017)31
3.2.4 West Bengal Town and Country (Planning and Development) Act, 1979 31
3.2.5 WB Land Bank Policy (2019) 31
3.2.6 Land Regulations and its Impact 32
3.3 Real Estate Analysis through Secondary Sources34
331 Introduction to the City’s Real Estate Trend: 34
4 Analysis of Kolkata’s Real Estate Markets36
4.1 Review of recently completed and upcoming projects registered under HIRA and other Real estate websites36
4.1.1 Approach for Ward-wise Data Collection: 36
4.1.2 Mapping and Analysis of the data: 36
4.2 Study of Secondary data related to Real Estate: 50
4.2.1 Overview of entire Real Estate Market: 50
4.2.2 Overview of Housing Market: 52
5 Inferences 53
5.1 Growth Pattern: 53
5.2 Areas of Growth:55
5.3 Floor Area Ratio (FAR) 57
5.4 Variations in Development 59
5.5 Conclusion 60
5.6 Future research direction:61
6 Bibliography62
Appendix 1: Market Analysis_Dataset 65