Home sales and new launches both declined in Kolkata during the April-June period of 2021 due to the impact of the second wave of the coronavirus pandemic, shows Real Insight (Residential) – April-June (Q2) 2021, a quarterly analysis of India’s eight prime residential markets by leading online real estate company PropTiger.com.
With the launch of 1,017 new units, new supply in Kolkata declined 49% quarter on quarter in the three-month period. This was, however, an increase over the supply numbers in the same quarter in 2020. Only 183 units were launched in Kolkata in Q2CY2020, data show. With 70% share in the new supply, Barasat and Sonarpur saw the highest number of launches in this quarter. The sale of 1,253 homes during this period in Kolkata resulted in a 5% annual and 63% sequential decline in numbers, the report showed. Among India’ eight prime residential markets, Kolkata has the lowest inventory stock, consisting of 28,591 units, data show.
The cities included in PropTiger’s analysis include Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi NCR, Mumbai MMR and Pune.
