In March 2024, the Kolkata Metropolitan Region witnessed a significant increase in apartment registrations, with 3,936 units registered, marking a 17% year-on-year growth, as reported by Knight Frank. The real estate sector in Kolkata has been advocating for the extension of stamp duty rebate, which is expected to boost residential sales further. The data indicates a shift towards smaller apartment sizes, with units under 500 sq ft comprising 45% of total registrations, up from 24% in March 2023. The South Zone led in apartment registrations, followed by the North Zone, both offering affordable options in the residential market.
In the residential sector, Kolkata s real estate market witnessed a robust demand throughout 2023, driven by the continuation of the stamp duty rebate. A total of 14,999 residential units were sold, showcasing a significant 16 per cent growth in sales volume over 2022. This represents a notable recovery from a 10 per cent decline observed in 2022 compared to 2021.