In March 2024, the Kolkata Metropolitan Region witnessed a significant increase in apartment registrations, with 3,936 units registered, marking a 17% year-on-year growth, as reported by Knight Frank. The real estate sector in Kolkata has been advocating for the extension of stamp duty rebate, which is expected to boost residential sales further. The data indicates a shift towards smaller apartment sizes, with units under 500 sq ft comprising 45% of total registrations, up from 24% in March 2023. The South Zone led in apartment registrations, followed by the North Zone, both offering affordable options in the residential market.
In March 2024, the sales registrations for properties priced at Rs 1 crore and above increased significantly to 16% in March 2024 from 10% in March 2023. However, the real estate market in Hyderabad witnessed the maximum number of property registrations in the price range of Rs 25 to 50 lakhs, constituting 45% of the total registrations.
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Investors should exercise caution and research the developer s reputation, project approvals and track record for timely completion, say real estate experts