Kol sees dip in ’24-25 unsold affordable home stock, rise in luxury inventory
Times of India | 28 April 2025
123 Kolkata: In Kolkata, unsold affordable housing stock declined by 20%, while luxury stock increased by 96% in 2024-25, a research by real estate consultancy firm Anarock revealed. Flats priced below Rs 40 lakh are categorised as affordable, while apartments priced above Rs 1.5 crore are pegged as luxury. Homes priced between Rs 80 lakh and Rs 1.5 crore are considered premium.
There was a decline in launches of homes in the affordable segment nationwide post-Covid, following a shift in customer preference towards larger homes. Thus, most of the projects launched in the past four years were in the premium and luxury segments. Kolkata is the only major Indian city that saw new launches in the affordable segment, although here too, the number of launches declined.
You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata
According to Anarock Research, a total of 24,800 units were launched in the affordable housing segment in Kolkata between Jan 2021 and March 2025, comprising a 37% share of the 66,260 units added in the city across all budget segments during the period. The current stock of affordable housing in the city is 12,783 units as of March 2025, down from 16,069 units in March 2024. "The decline is primarily due to persistent demand and sales of affordable homes in Kolkata," said Anarock Group chairman Anuj Puri.
In other major cities, affordable housing faced the sharpest pandemic fallout. Anarock data showed that affordable housing sales share plummeted from 38% in 2019 to 18% in 2024, while its supply share dropped from 40% to 16% in the same period. However, a 19% dip in unsold stock hints at sustained demand led by end-users. CREDAI West Bengal president Sushil Mohta said Kolkata remains an affordable segment market despite a shift in sales post-pandemic. This resulted in the growth of the mid-segment and premium segment.