‘Real Insight: Q4 2020’ – a quarterly analysis of India’s eight prime residential markets by brokerage firm PropTiger.com reveals that the increased awareness about home ownership 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 the report. 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.
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. Both 2BHK and 3BHK had an almost equal share in the overall new supply with 38% and 40% share, respectively. After undergoing a 16% decline annually, contributing nearly 4% to the national stock, inventory stock in Kolkata stood at 30,210 units at the end of December 2020.
