Residential sales registration fell 15% Y-o-Y in Kolkata in Aug 2022

29 Sep 2022 CW Team

Since the start of the stamp duty window in July 2021, August 2022 saw the third-highest registration of residential sales documents. However, registrations decreased 7% compared to July 2022, while the reduction was considerably more pronounced at 15% compared to August 2021, which had had the highest number of home sale paperwork registrations since the incentive's announcement.

In the Kolkata Metropolitan Area, there were 6,238 residential properties registered overall in August 2022, down from 6,709 in July 2022. The number of registrations reached a record high in August 2021 at 7,316.

After the initial proposal of the stamp duty reduction in mid-July 2021, the market's attitude toward home ownership continued to strengthen. 57,136 residential properties have been registered in KMA since the announcement. The data includes transactions in both the primary and secondary markets and includes all residential sales documents registered with flat/apartment sizes specified.

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