Over the past 10 years, West Bengal's real estate market has undergone an astonishing transformation and the state today is a favourite destination for builders and developers. The rapid expansion of business activity is boosting demand not only for residential space, but also built-to-suit offices. Since the 2000s a surge of investments in the real estate, infrastructure, retail, and hospitality sectors; several large shopping malls and hotels have been launched. As of 2010, Kolkata, with an estimated gross domestic product (GDP) by purchasing power parity of 150 billion dollars, ranked third among Asian cities, after Mumbai and Delhi.
West Bengal arguably has one of the most aggressive incentive packages for IT/ITES companies and developers alike including subsidised land. excemption from stamp duty and property tax. Asabsik, one of the busiest commercial centres in India, is once again attracting investors to the region. While in the steel city of Durgapur, there is considerable expansion of townships and other facilities. Similarly Burdwan looks extremely bright in terms of contemporary development and Kolkata is a high priority destiantion for international retailers owing to its large population and increasing disposable income. The growing demand for hotel rooms stimulated by expanding businesses and increased tourist flow has led to the entry of many reputed hotel groups in recent years.
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