Kolkata: A report published by a leading pan-India property consultant has laid bare the gloomy status of the real-estate sector in Kolkata.
According to the report published today by Anarock, as in June this year, as many as 51,000 residential flats/villas are lying unsold in Kolkata. This has made the city account for 7 per cent of the overall unsold inventory of residential properties across the top seven cities in India.
Between 2013 and June 2018, Kolkata witnessed the launch of 119,000 residential units. At the end of this June, 51,000 of them are lying unsold. These include 9 per cent ready to move-in flats and 50 per cent units that will be ready in the next two years.
The worry is, the report finds, the unsold inventory is on the rise with the every passing year. While in 2013, the number of unsold flats in Kolkata was 20,000, the same rose to 48,000 in 2017, and now it stands at 51,000.
East Kolkata (EM Bypass, Salt Lake, Rajarhat New Town) and south Kolkata (Kalikapur, Garia, Narendrapur, Joka, Baruipur) account for the highest percentage of unsold flats at 35 per cent each, followed by 22 per cent in north Kolkata (Dum Dum, Belgharia, Uttarpara, Barasat, Barrackpore), and 8 per cent in west Kolkata (Howrah, Santragachi, Mahestala, Makardaha, Bandhaghat), the report says.
Anuj Puri, chairman of Anarock Property Consultants said that while the majority of the supply of housing units in Kolkata is under Rs 40 lakh category, the unsold inventory is highest in this segment at 68 per cent of the total supply.
The dip in sales since 2016 has been attributed to demonetisation, and the rollout of GST and Real Estate Regulatory Authority.