- Below ₹ 40 lakh budget category rules supply, followed by mid-segment (₹ 40-80 lakh)
- Of all supply between 2013-Q1 2018, affordable housing contributed 64%, mid-segment 23%
ANAROCK Property Consultants’ latest report ‘Kolkata: The Shining Star of the East’ analyzes the city’s major real estate trends, and highlights that affordable housing has gained significant traction in Kolkata.
The state government has given a major push to this segment with its a new housing scheme ‘Nijoshree’, which provides homes under two categories to people whose monthly income is < ₹ 15,000 and < ₹ 30,000.
An important finding of this report is that a majority of the supply of housing units is in < ₹ 40 lakh budget. In terms of unsold inventory ageing pattern, only 9% of the units are ready-to-move-in, whereas more than 50% units are due to complete in the next 2 years.
- Approximately 1,19,000 units launched in Kolkata between 2013 and Q1 2018, of which 68% were added between 2013 and 2015.
- Kolkata accounted for 7% of the overall unsold inventory across the top 7 cities of India as of Q1 2018.
The report finds that while Kolkata saw restricted supply post-2015 the unsold inventory had already piled up in Kolkata and as of Q1 2018, the city had nearly 51,000 unsold units.
It also identifies the top destinations to invest in Kolkata, outlining the demand drivers which are yielding superior ROI in these locations.