Apartment sales remain at par with the previous quarter in Kolkata

• On an overall basis, Kolkata recorded apartment sales of 3,546 units in Q1 2026, representing a 1% on q-o-q uptick and 8% y-oy increase. The mid-segment (INR 5–10 million) dominated sales with 35% share, followed closely by the affordable segment (up to INR 5 million).
• The South submarket led with 31% of sales, followed by East (23%) and North (22%). Tollygunge, Joka, and Sonarpur drove activity in the South, while Rajarhat attracted buyers in the East and Madhyamgram in the North.

More than 3,800 housing launches in Kolkata

• During the quarter, 3,803 housing units were launched, reflecting an 84% q-o-q increase. However, on a y-o-y basis, there was a decline of 29%. The East submarket led launch activity with 28% of the total, followed by the North at 21%.
• The Premium segment (INR 10–15 million) led new launches at 29%, while the affordable segment (up to INR 5 million) contributed 22%. The rise in launches pushed unsold inventory to 18,211 units by end of Q1 2026.

Capital values appreciate by 16% on an annual basis

• Steady demand drove a 3.5% quarterly rise in capital values to INR 5,822 per sq ft in Q1 2026. The South and West submarkets led annual price growth at 20% and 18.2% respectively.
• The East submarket also recorded a significant 17.4% y-o-y price increase, fueled by a high volume of launches. Apartment prices rose due to steady homebuyer interest for high-quality residential projects in Tollygunge, Joka, Howrah, and EM Bypass.

Outlook: New launches and demand are likely to stabilize

• Housing market will due to the upcoming state elections. Both developers and buyers are expected to adopt a cautious approach in view of anticipated political developments. Launches, sales, and capital value appreciation are likely to moderate in short-term.
• Post elections, the market is expected to regain momentum, driven by strong underlying demand and physical infrastructure upgrades in key submarkets like East, South, and North.