Kolkata to boost housing finance demand says ICICI Home Finance

According to ICICI Home Finance, Kolkata is likely to contribute to a boom to the residential financing market in the next 3 years.

The managing director and CEO of ICICI Home Finance, Sunil Rohokale was quoted in Business Standard saying, "Although the residential financing market space in India is about Rs 1 lakh crore and the market in Kolkata is around Rs 2,000 crore, it is expected to grow at a much faster rate compared to the other metros in the next 2-3 years."

Currently, Mumbai leads the residential financing market with a share of 10 per cent, followed by Delhi and Bangalore with 9 and 7 per cent respectively.

In the last two years, the real estate market attracted an investment of around $7 billion, including $3 billion from equity. Of this, the share of Kolkata was around 3.5 per cent, amounting to $150 million.