The increased awareness about homeownership in the aftermath of the coronavirus pandemic has helped Kolkata improve its supply and sales numbers. The city, however, has a long road ahead of it before it reaches the stages of complete recovery, shows Real Insight: Q4 2020, a quarterly analysis of India’s eight prime residential markets by brokerage firm PropTiger.com.
At 1,658 units, new supply in Kolkata was at a six-quarter high. The new supply was concentrated in New Town, Madhyagram and Dum Dum, which contributed 49% to the overall launches. Both 2BHK and 3BHK had an almost equal share in the overall new supply with 38% and 40% share, respectively. A total of 2,518 units were sold in Kolkata during the October-December period in 2020, an increase of 2% over the July-September quarter. In terms of sales, too, Kolkata contributed only 4% to the national kitty. New Town, Rajarhat, Joka and Narendrapura were the top localities, claiming 38% share in the overall sales numbers. After undergoing a 16% decline annually, inventory stock in Kolkata stood at 30,210 units at the end of December 2020, contributing nearly 4% to the national stock.
