West Bengal real estate sector on a swift growth phase
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Kolkata: Even as industrialists worry over the slow pace of reforms hitting industrial resurgence in West Bengal, one business is growing by leaps and bounds in the state - real estate.
Experts say realty today is one the fastest growing sectors in Bengal's otherwise gloomy economy.
One example is Best Western, the world's largest hotel chain, which is upbeat about the state's real estate outlook.
"We expect the hotel business to grow by 10-15 percent pan-India this year and eastern India is expected to post a faster growth," Sudhir Sinha, India president and chief operating officer of Best Western, said on the phone from Bangalore.
He said there was a demand-supply gap in the hotel business in eastern India and expected the region to enjoy a good growth rate in the next five years.
"The realty sector in Bengal is expected to grow at a handsome rate of 15-20 percent in 2012," he said.
One example is Best Western, the world's largest hotel chain, which is upbeat about the state's real estate outlook.
"We expect the hotel business to grow by 10-15 percent pan-India this year and eastern India is expected to post a faster growth," Sudhir Sinha, India president and chief operating officer of Best Western, said on the phone from Bangalore.
He said there was a demand-supply gap in the hotel business in eastern India and expected the region to enjoy a good growth rate in the next five years.
"The realty sector in Bengal is expected to grow at a handsome rate of 15-20 percent in 2012," he said.
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