Greater Kolkata: Three-fold jump seen in registration of homes in May

Kolkata (PTI): Registration of residential properties in the Greater Kolkata region jumped more than three-fold to 4,233 units in May from 1,281 units in the year-ago period, according to Knight Frank India.

As many as 3,280 units were registered in April this year.

The registration data comprised of transactions in the primary and secondary markets and include all sizes of residential properties.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, "The stamp duty rebate in force since July 2021 has had a definite impact on housing sales in West Bengal. In the past 11 months, more than 40,000 homes have been registered in Greater Kolkata. This enhanced sales velocity has supported the city's residential market during the crucial pandemic years".

While there are concerns regarding the inflationary pressures on home loan interest rates and property prices, the continuation of this stamp duty rebate is an opportunity for homebuyers for the next few months in Kolkata, he added.