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Kolkata’s real estate market exhibited a mix of trends in the first quarter of 2025, with office space transactions witnessing a decline, while residential sales remained steady despite a slight dip. According to Knight Frank India’s latest report, India Real Estate: Residential and Office January — March 2025 Q1 2025, a total of 0.16 million square feet (mn sq. ft.) of office space was leased in Kolkata during Q1 2025. This marks a 16% decline from Q1 2024, when 0.20 mn sq. ft. was transacted. However, despite the drop in leasing activity, average transacted office rents rose by 9% to Rs 42 per sq. ft. per month, making it the highest among India’s top eight cities, alongside Hyderabad.

The market’s performance during the month has also helped the state exchequer fetch highest ever revenue through stamp duty collection. The country’s financial capital witnessed registration of over 15,400 property deals, up 9% from a year ago, showed data from the Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra. The stamp duty collection grew 41% on-year to Rs 1,584 crore, making it the best performance in the month of March ever.

real estate market recorded 19,012 property registrations during the month of February 2025. On a yearly basis, registrations remained steady, with a modest 1% year-on-year growth while on a month-on-month analysis registrations increased by 9%, showed data from the Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra. Pune’s housing demand continues to be supported by ongoing infrastructure development, its relative affordability compared to other major cities, and strong homebuyer sentiment. The city generated over Rs 712 crores in stamp duty collections from property registrations in February, marking a 7.6% on-year and 12% sequential rise. This increase in stamp duty revenue was driven by a higher share of transactions involving properties priced at Rs 1 crore and above.

Subscribe to enjoy similar stories. With the Reserve Bank of India keeping its key interest rate unchanged, real estate experts and developers have stressed the need to lower the rate, citing the need to stimulate sluggish sales and ease the growing burden of borrowing costs. “At this point, a rate cut would be more beneficial for consumers," said Shishir Baijal, chairman and managing director of real estate consultant Knight Frank India.

Knight Frank India. As many as 9,736 units were registered during November 2023. In a statement on Saturday, real estate consultant Knight Frank India said that Mumbai city, under the jurisdiction of the Brihanmumbai Municipal Corporation (BMC), recorded 10,216 property registrations in November 2024. The data is as of 8 pm on Saturday. The number might increase slightly.

Knight Frank India. Real estate consultant Knight Frank, in its latest edition of the Asia-Pacific Prime Office Rental Index for Q3 (July-September) 2024, said Delhi-NCR is the 6th most expensive office space rental market across the APAC region. Hong Kong SAR continues to be APAC's most expensive office market during the third quarter of this calendar year. Prime rents in the NCR remained stable in Q3 2024, while Mumbai and Bengaluru saw year-on-year (YoY) increases of 5 per cent and 3 per cent, respectively, driven by strong demand from corporates and limited new supply.

property market, has scaled a new peak by recording the best October performance in terms of registration of real estate deals and revenue collection through stamp duty charges. The festive period, beginning with Navratri followed by Diwali, are considered auspicious for property purchases, and has played a key role in this rise in registrations apart from the ongoing positive momentum in deal activity. The country’s commercial capital has registered 12,915 property transactions during the month, up 22% from a year ago, while the exchequer has fetched 44% higher revenue worth Rs 1,201 crore through stamp duty collections, showed data from inspector general of registration, Maharashtra.

Mumbai city has recorded 5,199 property registrations during this period between October 3 and 11, showing a 13.2% year-on-year growth as against the performance in Navratri 2023, showed data from Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra. The state exchequer collected a total revenue of Rs 502 crore in just 8 working days from these registrations as against around Rs 430 crore a year ago. Additionally, the daily average property registrations rate increased to 578 units this Navratri from 510 units in last year’s Navratri.

commercial real estate transactions across eight major cities in the country in the first half of the year. Deals for office spaces above 100,000 sq ft recorded a 54% on-year growth in the first half of calendar year 2024 to 15.69 million sq ft. These deals contributed 45% of the overall commercial transactions, showed data from Knight Frank India. Bengaluru’s commercial market continued to witness leasing domination in this segment as this contributed 53% to the city’s total office transaction volumes, amounting to 4.5 million sq ft, up 32% from a year ago.

India's financial capital recorded 11,628 property registrations in the month of August, marking a 7% on-year increase in deals. The robust performance helped the state exchequer collect over Rs 1,061 crore, reflecting a 31% rise in revenue, according to data from the Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra. The city’s consistent sales momentum has been driven by sustained buyer confidence, surpassing 10,000 units in monthly registrations for the first eight months of 2024. This marks eleven consecutive months of annual growth since August 2023.

Pradhan Mantri Awas Yojana (PMAY) Urban 2.0 plan over the next five years is expected to boost the affordable housing segment, allowing those migrating to cities for a livelihood to secure reasonable accommodation. PMAY-U is among the major flagship programmes being implemented by the government to provide all-weather pucca houses to all eligible beneficiaries in the urban areas. Under PMAY-U, more than 11.8 million homes have been sanctioned while nearly 9 million houses have already been constructed and delivered to the beneficiaries. “The nature of the housing scheme has changed in its new avatar. Government is using a wider mix of schemes ranging from interest subsidy to credit guarantee. While the quantum of interest subsidy per beneficiary has been scaled down, the government’s capital support will help a larger base of needy population. The government intends to do both — enhance its capital productivity and accelerate the ‘Housing for All’ timelines,” said Vivek Rathi, National Director Research, Knight Frank India.

interest rates have stayed steady since the end of 2023, showed Knight Frank India’s Affordability Index. Among key cities, Ahmedabad has emerged as the most affordable housing market with an Equated Monthly Instalment (EMI) to income ratio of 21% for an average household. Following closely are Pune and Kolkata, each with an EMI to income ratio of 24%. Mumbai was the only city that remained marginally higher than the threshold at 51%. “Stable affordability is essential to sustaining homebuyer demand and sales momentum, which, in turn, acts as a key economic driver for the country. As income levels rise and economic growth strengthens, end-users’ financial confidence is significantly bolstered, encouraging them to make longer-term financial commitments toward asset creation,” said Shishir Baijal, CMD, Knight Frank India.

«In sync with market requirements, market realities, the buyers are okay to pay that kind of price rise and in such times that price rise does not go haywire, stay closer to double digits, etc, we are in safe zone,» says Gulam Zia, Knight Frank India. Is that a trend that you are observing as well, when it comes to the pricing there is nothing extraordinary, 6% to 10% in line with inflation and is it that there is that definite dichotomy maybe between how luxury is panning out versus the affordable segment? Gulam Zia: Well, I would love to agree with Anuj word by word. What he said is exactly what the market is right now behaving like. So, to start with the point that you wanted me to also clarify was on price rise. Bang on, about 5% to 7% price rise per annum is something which we have been observing for last couple of years, at least last two to three years, and which is in sync.

Registration of properties in Mumbai municipal region increased 22 per cent during May to 12,000 units driven by strong housing demand, according to real estate consultant Knight Frank.

Knight Frank India's latest report, 'Think India Think Retail 2024', sheds light on the growing phenomenon of ghost shopping malls across major Indian cities. The report indicates a significant increase in the number of such malls, which are defined by a vacancy rate exceeding 40%. According to the report, the number of ghost shopping malls rose from 57 in 2022 to 64 in 2023, reflecting a concerning trend in the retail sector.

retail assets resulting in around 13.3 million sq ft retail shopping center space being classified as 'Ghost Shopping Centers,' with a vacancy rate of 40% or higher in 2023, showed a Knight Frank India study.

The Indian real estate sector will grow over three times to reach an estimated USD 1.5 trillion by 2034, constituting 10.5% of the total economic output by then, according to a joint report by Knight Frank India and CII.