Kolkata: Kolkata’s housing market recorded a strong rebound in the July-September quarter, with 5,122 residential units launched, marking an 81 per cent rise over the previous quarter and 56 per cent growth year-on-year.
According to a market study report by Cushman & Wakefield, the surge was driven by the onset of the festive season and the completion of several RERA registrations that had been pending earlier. Both branded developers and smaller city-based builders contributed to the upswing, encouraged by steady end-user demand and improving consumer sentiment.
Peripheral sub-markets continued to dominate, accounting for around 79 per cent of new launches, with notable activity in Sonarpur, Baruipur, Thakurpukur, Madhyamgram, BT Road and Hooghly. The north-east sub-market of Rajarhat accounted for about 16 per cent, while Lake Town contributed another 5 per cent.
The mid-segment category—typically targeting middle-income buyers—was the standout performer, comprising 78 per cent of all launches, up from 58 per cent in the previous quarter. Affordable housing made up 15 per cent, while high-end and luxury projects accounted for 7 per cent. The report highlights that mid-segment supply jumped by almost 2.5 times on a quarterly basis.
Among the key projects launched were DTC Still Waters (Baruipur, 452 units), Srijan Spacia (Madhyamgram, 449 units) and Shriram Springfield (Uttarpara, 446 units).
Average city-wide capital values rose 6–7 per cent year-on-year, led by appreciation in the north-east and south-east corridors near established office hubs. Prime central areas such as Camac Street and Minto Park commanded Rs 12,000-Rs 19,500 per sq ft, while mid-segment locations like Golf Green, Tollygunge and Jodhpur Park were in the Rs 6,500-Rs 8,400 per sq ft range. Rentals remained largely stable through the quarter.
Sushil Mohta, president of CREDAI West Bengal and chairman of the Merlin Group said: “Prices have not yet increased much in Kolkata, even though construction and labour costs have gone up since 2024. Land prices are also higher wherever connectivity and infrastructure have improved. I am confident that overall rates should rise by at least 10 per cent in 2026. Prices in the luxury segment may not move as much, but for the mid-segment priced between Rs 1 crore and Rs 2 crore, we expect around a 10 per cent increase.”