KOLKATA: The city this February witnessed an 83% jump in residential apartment registrations over that of last February, with apartments in the 501-1,000-sq-ft size accounting for half the number.
In all, 2,922 homes were registered in February 2023 in the Kolkata Metropolitan Area (KMA). Though the figure was down 30% against the previous month, when 4,178 homes were registered, the number is much higher than that of February 2022, when only 1,593 homes were registered.
“All stakeholders-homebuyers, developers as well as the government-will benefit from the sixth extension of the stamp duty rebate till September 30, 2023, given home loan interest rates are up on their northward climb,” said Knight Frank India (east) senior director Abhijit Das.
Since the initial stamp duty cut announcement in July 2021, more than 83,000 residential properties have been registered in the city. In the 18 months prior to the introduction of the stamp duty rebate, only 47,000 units were registered. The data pertains to transactions in both primary (fresh sale) and secondary (re-sale) markets for all residential apartments.
In line with past trends, homes in the size range of 501-1,000 sq ft accounted for half the total registrations in February 2023. The share of bigger unit sizes of more than 1,001 sq ft was at 23%, down from 29% the previous month. Smaller units of up to 500 sq ft comprised 27% share.
In all, 2,922 homes were registered in February 2023 in the Kolkata Metropolitan Area (KMA). Though the figure was down 30% against the previous month, when 4,178 homes were registered, the number is much higher than that of February 2022, when only 1,593 homes were registered.
“All stakeholders-homebuyers, developers as well as the government-will benefit from the sixth extension of the stamp duty rebate till September 30, 2023, given home loan interest rates are up on their northward climb,” said Knight Frank India (east) senior director Abhijit Das.
Since the initial stamp duty cut announcement in July 2021, more than 83,000 residential properties have been registered in the city. In the 18 months prior to the introduction of the stamp duty rebate, only 47,000 units were registered. The data pertains to transactions in both primary (fresh sale) and secondary (re-sale) markets for all residential apartments.
In line with past trends, homes in the size range of 501-1,000 sq ft accounted for half the total registrations in February 2023. The share of bigger unit sizes of more than 1,001 sq ft was at 23%, down from 29% the previous month. Smaller units of up to 500 sq ft comprised 27% share.
