Kolkata Home Registrations Drop 23% Amidst Clearance Freeze

Times of India · business

Apartment registrations in the Kolkata Metropolitan Area fell by 23% year-on-year in August, with 4,741 units registered compared to 6,196 last year. This decline is attributed to a freeze on project launches, as the Kolkata Metropolitan Building Committee has not met for eight months, holding up over 500 projects. Despite the overall dip, demand for larger homes, particularly those between 501-1,000 sq ft, increased, indicating a shift in buyer preference towards space and functionality.