Housing Registration in Kolkata in February Goes Up by 83%!
The real estate market in Kolkata, one of the major metropolitan cities in India, has been witnessing a significant surge in housing registration in recent times. In February, housing registration in Kolkata recorded a staggering increase of 83 percent compared to the same period last year. This surge in housing registration reflects the growing demand for properties in the city and indicates a positive trend in the real estate sector. The COVID-19 pandemic has affected the global economy and disrupted various industries, including real estate. However, with the gradual recovery of the economy and the stabilization of the real estate market, Kolkata has emerged as a city with promising growth potential. The increase in housing registration in February can be attributed to several factors, including favorable market conditions, improved buyer sentiment, and increased affordability due to lower home loan interest rates.
One of the key drivers of the surge in housing registration in Kolkata is the affordable housing segment. Affordable housing projects, aimed at providing affordable homes to the middle-class and lower-income groups, have gained traction in the city. The demand for affordable homes has been on the rise, fueled by the government’s initiatives such as Pradhan Mantri Awas Yojana (PMAY) and the Credit Linked Subsidy Scheme (CLSS), which provide financial incentives to homebuyers in the affordable housing segment. These schemes have made homebuying more affordable for aspiring homebuyers, leading to increased registration of affordable homes in Kolkata.
Another factor contributing to the surge in housing registration is improved buyer sentiment. Homebuyers are increasingly confident about investing in real estate, considering it a safe and tangible asset in times of uncertainty. Kolkata’s real estate market has been relatively stable, with consistent demand from end-users and investors alike. The city has witnessed infrastructural development, including the expansion of metro rail, and road networks, and the development of new commercial and residential hubs, which have further boosted buyer sentiment and confidence in the real estate sector.
Furthermore, the low home loan interest rates have also played a significant role in the increased housing registration in Kolkata. The Reserve Bank of India (RBI) has consistently maintained a low-interest rate regime to stimulate economic growth, including in the real estate sector. The lower interest rates have made home loans more affordable, allowing homebuyers to take advantage of the favorable borrowing costs and invest in properties. This has resulted in increased housing registration as more homebuyers are opting for home loans to finance their property purchases.
In conclusion, the significant surge in housing registration in Kolkata in February, with an increase of 83 percent compared to the same period last year, reflects the growing demand and positive sentiment in the real estate market. Factors such as affordable housing initiatives, improved buyer sentiment, and low home loan interest rates have contributed to this upward trend. The increased housing registration indicates the confidence of homebuyers in Kolkata’s real estate market and the potential for growth in the sector. However, it is essential to conduct thorough research, and due diligence, and seek professional advice before making any real estate investment decision to mitigate risks and make informed choices.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
