Kolkata Metropolitan Area: 2,268 residential apartments registered in April 2023

kolkata: As many as 2,268 residential apartments were registered in April 2023 in the Kolkata Metropolitan Area (KMA) taking the total figure of registrations to 88,802 in the city in the period July 2021 – April 2023, since the first stamp duty cut announcement in July 2021.

The 18-month period prior to the introduction of the stamp duty rebate saw registrations of nearly 47,000 units.

The study by the Directorate of Registrations and Stamps Revenue, Bengal government and Knight Frank India Research has noted that KMA witnessed a 31 per cent YoY (Year on Year) decline in apartment registrations, largely due to the base effect. On a month-on-month basis (MoM) too, the volume has decreased by 33 percent over March 2023.

This is not surprising as March 2023 was a strong month when 15 per cent increase in volume of registrations was noted over February 2023. North Zone emerged at the top of the micro-market tally as it garnered a 42 per cent share in the registration pie in April 2023.