Housing market records 13% quarterly sales growth in Q3 2025

• Kolkata recorded housing sales of 3,925 units during the quarter, representing a 13% q-o-q increase, though demonstrating a 4% y-o-y decline. The mid-segment (INR 5-10 million) dominated sales activity with 38%, followed by the affordable segment (up to INR 5 million).
• The South submarket dominated housing demand with 33% of overall sales, closely followed by the East at 26%. While Tollygunge, Joka and Sonarpur primarily drove demand in the South, Rajarhat and EM Bypass were the major demand drivers in East Kolkata.

More than 6,000 new units launch in Kolkata

• Kolkata recorded 6,099 unit launches across submarkets in the quarter, demonstrating 69% quarterly growth. The South submarket led launch activity with 34% of the total, followed by the North and East, which contributed 25% and 22%, respectively.
• The mid-segment category (INR 5-10 million) dominated new launches with 45%, while the affordable segment (up to INR 5 million) accounted for 36%. Due to heightened new supply, unsold inventory increased substantially to 19,412 units during the quarter.

Kolkata’s residential market records 16% capital value appreciation annually

• New supply, coupled with stable demand, led to a 4% q-o-q capital value growth. The overall capital value increased to INR 5,473 per sq ft at the end of the quarter.
• The West submarket led average price growth with a 24% y-o-y increase to INR 3,700 per sq ft due to the introduction of multiple luxury residential projects in Howrah. This was followed by the South with 18% price growth due to the high volume of launches there.

Outlook: New launches to stimulate demand and support capital value appreciation

• Upcoming quarters may experience elevated demand from prospective homebuyers as multiple residential developments by reputable developers are expected to be launched. The East submarket is expected to see most of the new supply, followed by the South and North.
• Capital values may strengthen across submarkets. The mid (INR 5 to 10 million) and affordable (up to INR 5 million) segments are likely to contribute to price growth.