Residential property in Kolkata has recorded an 8 growth between July-April 2022 compared to the same period last year. Since the preface of the stamp duty rebate in July 2021, homes have been registered in Kolkata till April 2022.

Stamp duty benefit will remain for another five months. which will be encouraging in a market faced with pressures of affectation and hikes in home loan rates which will be encouraging in a market faced with pressures of affectation and hikes in home loan rates. This rebate should appreciatively impact the city’s real estate conditioning, furnishing relief to homebuyers. We hope that the government will continue its favourable stance towards home buyers in the future, ensuring the current instigation is maintained.

Residential property registrations moderated in April 2022, recording a 30 MoM degrowth. Homebuyers remained conservative of decision- making due to the price hike, noticeable in the total registration count of sale documents this month.

North, South and West remained the top three best performing zones in terms of home sales in April 2022. North Zone expanded from 29 of the total in April 2021 to 40 in April 2022, as peripheral locations in this zone gained a lot of traction from homebuyers. At 31, South Zone remained largely stagnant compared to the former time. Domestic products in the ticket size type of Rs 40 to 80 lakhs remained the most preferred order across the city. West Zone, still, saw a decline from 18 in April 2021 to 15 in April 2022. 

By LNN (Liyaans News Network)