Yesterday afternoon, when Christopher Wood, the equity strategist for CLSA Ltd., Hong Kong, said in an interview on NDTV Profit that he expects Sensex, the Indian stock market’s bellwether index, to touch 40,000 in not-so-distant future, it was time to sit up and take notice of an unbridled optimism. His feeling eloquent was all the more worthy of noting since he ranked the Indian realty market to hold the maximum potential.
And of all the places, he chose Kolkata realty the hottest. Perhaps he had good reasons there. Incidentally, he gave the interview from Kolkata. As if to prove his point correct, comes the news that the 3.7 acre RCTC (Royal Calcutta Turf Club) premises on Russell Street is likely to be put on sale for an astonishing sum of Rs.300 crore.
Here is an excerpt from today’s The Telegraph (full story here):
“It’s a mouth-watering prospect for any real-estate developer,” says Abhijit Das, regional director of property consultants Trammell Crow Meghraj, which values the address at “nearly Rs 250 crore”. If it does go up for grabs, the trade buzz is ITC, headquartered diagonally opposite the turf club, has already dangled a price carrot.
Well, the time is changing. And fast.
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