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Home registrations in the Kolkata Metropolitan Area (KMA) declined 14% year-on-year to 26,207 units during the first half of 2026, according to Knight Frank India. The consultancy attributed the moderation to slower market activity during the West Bengal Assembly election period and a high comparison base from the previous year, when registrations had surged sharply. In June alone, apartment registrations fell 14% from a year earlier and 21% from the previous month to 3,669 units. Despite the decline, Knight Frank said transaction volumes remained robust by historical standards, supported by resilient end-user demand. The report also highlighted a continued shift towards larger residential units, with homes measuring 501–1,000 sq ft accounting for the majority of registrations, while demand for apartments exceeding 1,000 sq ft recorded significant year-on-year growth.
Home registrations in the Kolkata Metropolitan Area (KMA) fell 14% year-on-year during the first half of 2026, reflecting a temporary slowdown in residential market activity during the West Bengal Assembly election period, according to a report released by Knight Frank India.
The property consultancy reported that 26,207 residential units were registered between January and June this year, compared with 30,582 units during the corresponding period last year. The decline follows an exceptionally strong first half of 2025, when registrations had increased 43% year-on-year, creating a high base for comparison.
In June, apartment registrations stood at 3,669 units, representing a 14% decline from the same month last year and a 21% drop compared with May 2026.
Knight Frank attributed the moderation in registration volumes to cautious market activity around the state election cycle, while noting that overall transaction levels remained healthy when viewed against long-term historical trends.
Commenting on the market performance, Shishir Baijal, Chairman and Managing Director of Knight Frank India, said residential registrations moderated during the first half of 2026 after the exceptionally strong performance recorded a year earlier. He noted that although the market was affected by the high base and a temporary slowdown associated with the election period, underlying end-user demand remained resilient, allowing transaction volumes to remain healthy by historical standards.
The report also highlighted changing buyer preferences, with demand continuing to shift towards larger residential units.
Apartments measuring between 501 sq ft and 1,000 sq ft accounted for 58% of all registrations in June, compared with 42% in the corresponding month of the previous year. The same size category also represented 58% of total residential registrations across the first six months of 2026, indicating sustained demand for mid-sized homes.
Registrations of apartments exceeding 1,000 sq ft recorded a 112% year-on-year increase in June, reflecting growing interest in larger residential units among homebuyers. The trend aligns with the evolving preference for more spacious homes that has emerged across several residential markets in recent years.
From a geographical perspective, North Kolkata accounted for the largest share of apartment registrations during June, contributing 37% of the total volume. South Kolkata followed closely with a 36% share, together accounting for nearly three-quarters of all residential registrations in the metropolitan region during the month.
While overall registrations moderated compared with the previous year, the report suggests that the decline was driven largely by temporary market factors and statistical comparisons rather than a deterioration in underlying housing demand. The continued preference for larger homes and stable transaction volumes indicate that end-user activity remains a key driver of Kolkata's residential market.
Source - PTI
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