Registration of residential sales was much sharper when compared to August 2021 at 15%. In all 6,238 residential properties were registered in Kolkata Metropolitan Area in August 2022 down from 6,709 in July 2022. In August 2021 that had witnessed record registration, the figures was 7,216.
The stamp duty cut was initially proposed in mid-July 2021 post which the market sentiment towards home ownership continued to improve. Since the announcement 57,136 residential properties have been registered in KMA. The numbers capture all residential sales documents registered with flat/apartment sizes mentioned, the registration data comprising transactions in both the primary and secondary markets.
Of the various configurations, homes in the range of 501- 1,000 sq ft continued to account for nearly half or 49% of the total registration in August 2022. The bigger unit sizes of more than 1,001 sq ft comprise a 26% share of the total pie. Smaller units of up to 500 sq ft comprised one-fourth share of the total.
In line with the past trends, north and south continued to be the best performing zones in August 2022. The share of the north zone expanded from 29% of the total in August 2021 to 40% in August 2022 as the northern suburbs gained traction from home buyers. The south zone’s share largely remained similar to August 2021 at 32% in the August 2022 period.