Kolkata Real Estate had the highest number of apartments registered in Oct 2023
By Bricksnwall | 2023-11-25
had the highest number of apartments registered by Kolkata Real Estate in 2023,
according to a report.
estate consulting firm Knight Frank has released an analysis stating that since
the start of the calendar year 2023, 35,467 units have been registered in the
Kolkata Metropolitan Area (KMA). In October 2023, 4,441 flats were registered,
a little increase of 2% from the previous month. October now holds the record
for the most property registrations in 2023, surpassing even September's
represents a 35% drop year over year (YoY) from October 2022. The base effect
from the prior year, which saw notable rise in registrations owing to strong
consumer mood boosted by the retention of the stamp duty rebate, is responsible
for the YoY fall.
upcoming months, Kolkata's residential real estate market may continue to show
signs of strength thanks to the extension of the stamp duty rebate that was
announced prior to Diwali and the Reserve Bank of India's (RBI) recent
decision to maintain the repo rate steady for the fourth time this fiscal year.
information includes residential flat transactions in the primary (new sale)
and secondary (resale) markets for all time periods.
size of a flat
between 501 and 1,000 square feet made up 53% of all registrations in October
2023, a significant rise from the 44% registered during the same time the year
prior. In October 2022 and October 2023, the percentage of units with smaller
sizes?up to 500 square feet?stayed constant at 24%. Over the previous 12
months, the proportion of flats in this size range has not changed. Over 1,000
square foot units made up 23 percent of all registrations. The share of this
unit size category has decreased from 32% to 23% over the last 12 months as
compared to October 2022.
With 39% of all flat registrations in Kolkata in October 2023, the South Zone topped the micro market registration list. The South Zone ranked second overall in October 2022, accounting for 29% of all registrations one year prior. Over the last year, this zone's proportion of all property registrations has increased to occupy the top rank.