Kolkata residential sales surge 16 pc in 2024, office rentals rise 7 pc: Knight Frank

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..... Kolkata residential sales surge 16 pc in 2024, office rentals rise 7 pc: Knight Frank - PTI News Dated:- 7-1-2025 PTI - News - Kolkata residential sales surge 16 pc in 2024, office rentals rise 7 pc: Knight Frank - - - Dated:- 7-1-2025 - Kolkata, Jan 7 (PTI) Kolkata's residential real estate market has witnessed a significant surge in sales, with a 16-per cent year-on-year growth in the 2024 calen .....

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..... dar year, according to Knight Frank India. The metropolis recorded residential sales of 17,389 units in 2024, making it the third-best year for the sector since 2010, the property consultant said in a report. It attributed the growth to sustained demand, despite the government's decision to discontinue incentives such as stamp duty rebates and circle rate reductions in July 2024. The average resid .....

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..... ential prices in Kolkata also appreciated by 6 per cent year-on-year to Rs 3,815 per sq ft, indicating a steady growth in the market, the report said. In the office space segment, the city witnessed a marginal 1 per cent decline in transactions, but the average transaction rent increased by 7 per cent to Rs 41 per sq ft per month. New office completions in 2024 were recorded at 0.3 million sq ft, .....

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..... it said. The report noted that Kolkata's office market is undergoing a gradual recovery, driven by consistent demand from occupiers across diverse sectors, particularly IT, BFSI and healthcare. "The year 2024 has been a pretty good year for the overall economy and the real estate sector, which has ridden on growing demand. RERA and the stamp duty rebate have played a facilitatory role," Merlin Gro .....

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..... up MD Saket Mohta said. PTI BSM RBT - - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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