Kolkata Property Registrations Surge 64%
Real Estate

Kolkata Property Registrations Surge 64%

Property registrations in Kolkata experienced a substantial surge of 64% year-on-year in February 2024, indicating robust activity in the city's real estate sector. This significant uptick reflects renewed confidence among buyers and sellers, amidst improving economic conditions and favourable market dynamics.

The spike in property registrations can be attributed to various factors, including pent-up demand, favourable lending conditions, and the easing of COVID-19 restrictions. Additionally, initiatives by the government to streamline property registration processes and reduce associated costs may have contributed to the uptick in transactions.

The residential segment appears to be driving much of this growth, with increased interest from homebuyers in owning property in Kolkata. Developers and real estate agents have reported heightened inquiries and sales activity across different residential projects in the city.

The commercial real estate sector also shows signs of revival, with a notable increase in registrations for commercial properties and office spaces. This trend aligns with the gradual recovery of businesses and the resumption of economic activities post-pandemic.

The surge in property registrations underscores Kolkata's resilience and attractiveness as a real estate destination. Despite challenges posed by the pandemic, the city's property market continues to demonstrate resilience and adaptability, presenting opportunities for both investors and end-users alike.

Looking ahead, sustained government support, coupled with continued economic recovery, is expected to further stimulate growth in Kolkata's real estate sector, driving continued momentum in property transactions and investments.

Property registrations in Kolkata experienced a substantial surge of 64% year-on-year in February 2024, indicating robust activity in the city's real estate sector. This significant uptick reflects renewed confidence among buyers and sellers, amidst improving economic conditions and favourable market dynamics. The spike in property registrations can be attributed to various factors, including pent-up demand, favourable lending conditions, and the easing of COVID-19 restrictions. Additionally, initiatives by the government to streamline property registration processes and reduce associated costs may have contributed to the uptick in transactions. The residential segment appears to be driving much of this growth, with increased interest from homebuyers in owning property in Kolkata. Developers and real estate agents have reported heightened inquiries and sales activity across different residential projects in the city. The commercial real estate sector also shows signs of revival, with a notable increase in registrations for commercial properties and office spaces. This trend aligns with the gradual recovery of businesses and the resumption of economic activities post-pandemic. The surge in property registrations underscores Kolkata's resilience and attractiveness as a real estate destination. Despite challenges posed by the pandemic, the city's property market continues to demonstrate resilience and adaptability, presenting opportunities for both investors and end-users alike. Looking ahead, sustained government support, coupled with continued economic recovery, is expected to further stimulate growth in Kolkata's real estate sector, driving continued momentum in property transactions and investments.

Next Story
Infrastructure Transport

L&T-Alstom Partnership to Upgrade Mumbai Metro Line 4

Larsen & Toubro (L&T), in partnership with Alstom Transport, has secured a contract to supply essential systems for Mumbai Metro's 35.2 km Line-4 and Line-4A (Green Line), which will connect Wadala, Kasarvadavali, and Gaimukh. Identified as Package CA-234, the contract includes the supply of 39 six-coach trains, totalling 234 coaches, along with Communication-Based Train Control (CBTC) signalling and train control systems, telecommunications infrastructure, platform screen doors, and depot machinery for the Mogharpada Depot. This project comes after Alstom's previous withdrawal from a similar ..

Next Story
Infrastructure Energy

Jio-bp to Expand Retail Network and EV Charging Infrastructure

Jio-bp, a joint venture between Reliance Industries and global energy major bp, is focused on expanding its retail infrastructure and enhancing customer experience to strengthen its presence in the downstream energy market. The company plans to establish 100,000 electric vehicle (EV) charging stations over the next 10-12 years, aligning with the Indian government's efforts to boost EV charging infrastructure and achieve net zero targets. Additionally, Jio-bp intends to open 1,000 retail outlets to sell compressed biogas (CBG) produced by Reliance's CBG plants. Jio-bp has introduced 480 kW ..

Next Story
Infrastructure Energy

Kolkata Metro to Install Power Backup System on Underground Stretch

Kolkata Metro Railway is set to install a Battery Energy Storage System (BESS) at the Central Station substation to enhance commuter safety during power outages. This system will ensure uninterrupted operations on the 16 km underground Tollygunge-Dumdum stretch of the Blue Line corridor (Dakshineswar-New Garia), which spans 28 km. The BESS, comprising inverters and advanced chemistry cell (ACC) batteries, will enable trains to operate at 30 km/h during power cuts or grid failures, ensuring that passenger-filled coaches can safely reach the nearest station. This initiative aims to improve both..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?