The COVID-19 outbreak has hit the residential real estate sector hard. But, a stockbroker from Kolkata purchased a marquee bungalow in Judges Court Road at around Rs 100 crore, reported Economic Times.
According to the report by the Economic Times, the 31,000 sq ft bungalow was purchased by Prakash Baid, a stockbroker. This is one of the biggest residential real estate deal in Kolkata. The bungalow spread is spread over 3.734 sq yard and was owned by Avijit Mazumder, former managing director of TIL Limited. The bungalow has 5-bedrooms spanning across 3 levels, connected by an elevator. The house also has 3 car garage and can accommodate over 14 guest parking spaces.
Ashwin Chadha, President of India Sotheby's International Realty told the leading daily that the company successfully concluded the transaction representing both buyer and the seller of the marquee bungalow in Judges Court Road within six months of getting the mandate for listing it out.
Meanwhile, according to a Knight Frank India report released on July 16, housing sales in the top eight cities of the country dropped by 54 percent year-on-year to a decadal low of 59,538 units during the first half of 2020 on account of COVID-19 pandemic.
In its flagship report - India Real Estate: H1 2020 - released on Thursday, Knight Frank India said that housing sales fell 27 percent in January-March to 49,905 units across eight major cities - Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Pune, Hyderabad, and Ahmedabad.
The sales plunged 84 percent in April-June to 9,632 units as the lockdown affected demanded badly. Delhi-NCR, Chennai, and Hyderabad had near-zero sales during the second quarter of the calendar year.