From even a decade ago, the Kolkata property market has gradually but surely transformed itself.
Now, it is a varied market with diverse choices for consumers.
Affordable to super luxury — you get every kind of project in Kolkata.
This has opened up huge opportunities for homebuyers as they can choose from various projects. They can select according to their budget, location, amenities, and several other factors.
At the same time, this broadening of the property market has enhanced the scope of real estate development in Kolkata in more ways than one.
Now, a developer has a plethora of opportunities to create living spaces of his choice. It can be an affordable gated community of apartments or bungalows, a premium apartment complex, or a luxury apartment project with a couple of towers and fancy landscaping.
There is substantial market depth and properties of diverse configurations are being sold in Kolkata now.
More Opportunities Create More Challenges
More market opportunities usually create heightened competitive intensity. And this is evident if we analyse the Kolkata property market today.
New and resale properties are available at different price points in almost every location in Kolkata these days.
The traditional idea of building premium and luxury properties only in the posh areas is no longer valid.
This ensures that the developer must be extremely cautious while conceptualising the project, keeping in mind the kind of customers he wants to attract.
He should consider the location and the demographic profile, the kind of projects which received great responses from the homebuyers, future infrastructure projects, and a host of other factors before he plans the project.
In fact, considerations of marketing the project should take precedence over other considerations.
For most developers, it is too much on their plates in addition to the issues of finance and construction.
There is an easy way to overcome the challenge.
We will discuss that in a moment but before that let us discuss some developers’ experiences.
Market Study for Project Launch
As we have seen, a large number of choices make you confused as to which course of action to take.
Real estate development is a high-stakes game. A lot is at stake, especially big financial investment is involved.
There is no way you can afford to go wrong.
You must study the market very well before deciding what kind of project is most suitable in a particular location.
But the problem is, most developers do not have a system in place for detailed market study. Their infrastructure is geared towards project execution.
In such a scenario, the NK Research Team from the House of NK Realtors can be a big help.
We will see, in a moment, how that is done and what value the NK Research Team brings to the table.
Let’s discuss the experience of Promise Realty (name changed for privacy concerns).
They are a big developer of commercial real estate in different cities of India.
However, they wanted to get into the residential segment and acquired a large tract of land in Alipore, Kolkata.
Before they even considered the concept of the project, they started working with NK Research Team.
After a detailed market study which took about 3 months, NK Research Team advised on the concept of the project for optimum marketability. A plethora of marketing insights was revealed.
What kind of projects are generally built in the neighbourhood, apartment size, pricing, most preferred amenities, suitable theme…the study talked of a lot of parameters.
With all the necessary information at hand, it was easy for Promise Realty to design highly marketable real estate products.
NK Research Team performs a detailed market study and advises on the right time to launch the project, the mix of various unit sizes and configurations, the theme and the amenities, and the most profitable launch process. This insight is derived from the deep study of ground-level realities in a particular location and upcoming infrastructural changes.
However, Living Space Realty (name changed for privacy concerns) wanted a different sort of support from NK Research Team.
They worked earlier with various vendors for brochures, billboards, digital marketing, and audio-visual ad production. However, they wanted sharper agencies to implement all that as their earlier experiences were not exemplary.
Marketing Support by NK Research Team
Marketing a real estate project needs a deep understanding of the customer psyche. It also requires high-quality brochures and audio-visual ads, strategically placed billboards, and skillful online marketing.
Often, developers are not sure of the vendors’ skills and experiences before entrusting them with the responsibility of executing these.
With NK Research Team by your side, there are absolutely no worries at all.
NK Research Team has a varied panel of best vendors in different fields, chosen after a long process of selection. Their track record and feedback from other developers were taken into account.
Besides, these vendors take extra care of the NK Research Team customers as being in the good books of NK is crucial for them. Any negative feedback is damaging to them.
The best part?
You can count on NK Realtors’ 30-year-long experience in property marketing and leadership of the Kolkata property market.
Exemplary Property Marketing Support
For over 3 decades, NK Realtors has developed a leadership position in property marketing services.
Today, NK Realtors offers comprehensive real estate marketing services.
These services comprise new project pre-launch advisory, marketing of new and resell properties, legal services, and homebuyers’ support services.
NK Realtors have built thousands of customer relationships as well as deep bonds with the top real estate professionals in Kolkata.
Besides NK Realtors has a massive knowledgebase and ongoing research to capture changes in customers’ preferences and market dynamics.
If you are planning to launch a real estate project in Kolkata, get in touch with us as soon as possible.
We will positively surprise you with innovative property marketing ideas.
