2023-05-10-莱坊-KOLKATA_RESIDENTIAL_PROPERTY_REGISTRATIONS_UPDATE_-_APRIL_2022_3页_2mb

Greater Kolkata Residential Property Registration Summary (April 2022)

Core Content

The document provides an overview of residential property registrations in Greater Kolkata for April 2022, highlighting trends in sales, the impact of the stamp duty rebate, and the shifting preferences of homebuyers.

Main Points

• Residential Property Registrations in April 2022:
  A total of 3,280 residential sale documents were registered in Greater Kolkata in April 2022, marking the second-highest count of the year.

• Year-on-Year Growth:
  Since the introduction of the stamp duty cut in July 2021, 36,912 residential properties have been registered up to April 2022, reflecting an 8% increase compared to the same period in 2021 (July 2020 to April 2021).

• Month-on-Month Trend:
  There was a 30% decline in residential property registrations in April 2022 compared to March 2022, indicating a moderation in the market.

• Apartment Size Preferences:
  In April 2022, 47% of the total registrations were for apartments in the size range of 501–1,000 sq ft, while 27% were for units up to 500 sq ft and 26% for units 1,001 sq ft and above.

• Zone Performance:
  The North Zone accounted for 40% of total sales in April 2022, up from 29% in April 2021. The South Zone remained at 31%, and the West Zone saw a decline from 18% to 15%.

• Market Pressures:
  The RBI increased the repo rate by 40 basis points to 4.4% in May 2022, which has put upward pressure on home loan interest rates, potentially affecting housing affordability in the near term.

• Government Policy Impact:
  The stamp duty rebate, which is still in effect until September 30, 2022, is expected to encourage real estate activity in a market facing inflation and higher interest rates. There is a hope that the government will continue its supportive stance towards homebuyers to sustain the current momentum.

Key Information

• Total registrations from July 2021 to April 2022: 36,912
• YoY growth in registrations: 8%
• MoM decline in April 2022: 30%
• Apartment size distribution (April 2022):
  • 0–500 sq ft: 27%
  • 501–1,000 sq ft: 47%
  • 1,001 sq ft and above: 26%
• RBI repo rate increase: 40 basis points to 4.4% in May 2022
• Impact of rate hike: Adversely affects housing affordability
• Stamp duty rebate: Expected to support market activity until September 30, 2022

Trends and Insights

• The pandemic has influenced buyer preferences, leading to a shift towards larger apartment sizes.
• Compact units have seen a decline in launches in the past year due to this trend.
• North Zone has emerged as a top-performing area, with peripheral locations gaining popularity.
• South Zone has remained relatively stable, while the West Zone has experienced a decline in market share.
• The real estate market is responding cautiously to rising prices and interest rates, with buyers showing caution in decision-making.

Contact Information

• Author: Divya Agarwal

  • Title: Vice President - Research
  • Email: Divya.Agarwal@in.knightfrank.com

• Research: Vivek Rathi

  • Title: Director
  • Email: Vivek.Rathi@in.knightfrank.com

• Corporate Marketing & Public Relations: Piyali Dasgupta

  • Title: Director - Corporate Marketing & Public Relations
  • Email: Piyali.Dasgupta@in.knightfrank.com

Recent Research Publications

• India Real Estate (Jul-Dec 2021): Available for download at knightfrank.com/research

Disclaimer

• All statements, information, and data are provided "as is, where is".
• No warranties or guarantees are made regarding the accuracy, reliability, or results of the information provided.
• Due diligence is required before signing any binding document.
• Knight Frank (India) Private Limited disclaims all implied warranties and does not accept liability for any consequences arising from the use of the information.