Decline in apartment sales during Q2 2026

• Overall, Kolkata recorded apartment sales of 3,104 units in Q2 2026, reflecting a 12% q-o-q and 10% y-o-y decline. The mid-segment (INR 5–10 million) accounted for the largest share of sales at 38%, followed closely by the affordable segment (up to INR 5 million).
• The South submarket led sales with a 29% share, followed by East (27%) and West (19%). Tollygunge, Joka and Sonarpur were the key demand drivers in the South, while Rajarhat attracted buyers in the East. In North, Shibpur and Serampore supported sales activity.

More than 3,300 housing units launched in Kolkata

• During the quarter, 3,362 housing units were launched, reflecting a 12% q-o-q and 7% y-o-y decline. The East submarket accounted for the largest share of launches at 39%, followed by the West at 35%.
• The upper mid-segment (INR 7.5–10 million) accounted for the largest share of new launches at 41%, while the luxury segment (INR 30–50 million) contributed 24%. The healthy launch activity increased unsold inventory to 18,469 units by the end of Q2 2026.

Capital values appreciate by 13.1% annually

• Despite demand moderation, there was a 2.2% q-o-q increase in capital values to INR 5,952 per sq ft in Q2 2026. The South and West submarkets recorded the highest annual price growth at 15.6% and 15.1%, respectively.
• The East submarket recorded a 14.6% y-o-y price increase, driven by luxury project launches and improved market sentiment. Strong homebuyer demand for high-quality residential projects across Tollygunge, Joka, Rajarhat, New Town, Howrah and EM Bypass supported growth.

Outlook: New launches and demand are likely to increase

• Following the recent changes in state governance, Kolkata’s residential market is expected to see stronger housing demand supported by quality supply additions. Residential launches, sales, and capital values are likely to witness healthy growth over long-term.
• The market is expected to regain momentum, supported by strong underlying demand and ongoing infrastructure upgrades across key submarkets such as East, South, and North. The East submarket is expected to remain the primary growth driver.