Celebrations galore may have slowed a bit with the depressing departure of Durga to Mount Kailash. But the City of Joy has another reason to become joyful especially, its Real Estate market.
Kolkata has left behind 6 other major Indian cities regarding the number of new launches in the residential segment for the third quarter of 2018.
As revealed by the recent report of a renowned Property Consultant, the festive season got Kolkata new project launches galore. The numbers increased by a remarkable 59% and 500% from the 2nd quarter of 2018 and 3rd quarter of 2017, respectively. The city witnessed the launch of around 4,050 units.
The list of cities in the report includes Hyderabad, MMR, Bengaluru, National Capital Region, Chennai, Pune and Kolkata. The total number of new units getting launched across these cities have risen jut by 3% from 50,000 units in the 2nd quarter to 52,160 units in the 3rd quarter of the current year.
As compared to the third quarter of 2017, the new housing has jumped up by 51% in the corresponding quarter of 2018. On the other hand, the sales have increased by 15% this year than that in the same period of the previous year.
The approximate number of units being launched during the months of celebration is 19,850 in MMR (Mumbai Metropolitan Region). The rate of increase is 42% between the 2nd and 3rd quarters, slightly lesser than Kolkata.
The contribution of the National Capital Region (NCR) was negligible with only 8% of the total number of new launches amounting to 4,200 units. This caused the number of units to drop by 50% as against the earlier quarter.
The trend of increasing sales has been kept alive by the housing units under the low-budget category. The report suggests a 65% rise in the supply of homes below 40 lakh rupees during the third quarter of this year in comparison to that of the previous year.
The home purchases moved up marginally by 9% from the 2nd to the 3rd quarter in 2018 across the cities mentioned in the report. The data by the Property Consultant also assures property purchases in the following year by around 61% potential buyers.
The festive mood is still on, so let’s hope for the best. Looking for flats in North Kolkata to enjoy the traditional vibe of Durga Puja the next year? Then get in touch with Transventor Property Management Services for the fastest results.