Introduction
According to a recent Knight Frank report, the Kolkata Metropolitan Region (KMR) recorded 3,936 apartment registrations in March 2024. This represents a 17% increase compared to the same period last year. The surge in registrations can be attributed to the growing demand for residential properties in Kolkata.
Factors such as affordable pricing, improved infrastructure, and the city’s overall economic growth. Have contributed to this upward trend in property registrations. The real estate market in Kolkata is expected to continue. Thriving in the coming months as more buyers show interest in investing in the region.
Increasing Demands of the Real Estate Sector
Registrations have picked up in recent years due to the increasing demands of the real estate sector to increase. The extension of stamp duty concession has finally been approved by the government making it a permanent feature of the Kolkata market. This provides much-needed relief to home buyers and developers. The move is expected to boost real estate transactions and spur economic growth in the region.
Monthly Residential Sale Deed Registered: March 2023 to 2024
Monthly residential sale deed registered for March 2023 to 2024 showed a 17% increase compared to the same period last year. This growth can be attributed to the continued demand for housing in the area and competitive interest rates offered by lenders.
The influx of new residents moving to the area for job opportunities and lifestyle amenities has also contributed to the rise in residential sales. The real estate market in the region appears to be thriving due to these various factors.
| Residential Sales Deeds Registered | In KMA (Kolkata Metropolitan Region) | Y-o-Y trend | M-o-M trend |
| March 2023 | 3,370 | -28% | 15% |
| April 2023 | 2,268 | -31% | -33% |
| May 2023 | 2,863 | -32% | 26% |
| June 2023 | 3,437 | 13% | 20% |
| July 2023 | 4,036 | -40% | 17% |
| August 2023 | 3,605 | -42% | -11% |
| September 2023 | 4,347 | -25% | 21% |
| October 2023 | 4,441 | -35% | 2% |
| November 2023 | 3,656 | 20% | -18% |
| December 2023 | 3,737 | 14% | 2% |
| January 2024 | 1,184 | -72% | -68% |
| February 2024 | 4,806 | 64% | 306% |
| March 2024 | 3,936 | 17% | -18% |
Conclusion
According to a recent Knight Frank report, the Kolkata Metropolitan Region (KMR) recorded 3,936 apartment registrations in March 2024. The surge in registrations is attributed to the growing demand for residential properties in Kolkata. As more buyers seek to invest in real estate in Kolkata, developers are responding by launching new projects to meet the demand. For more information, visit openplot.