Kolkata Defies Expectations: 4% Housing Sales Growth in Q3 2025
Amid India's cooling real estate sector, Kolkata stands out. Unlike most major cities, it posted a solid 4% year-on-year growth in housing transactions during the third quarter of 2025, per data from property consultant ANAROCK. Only two cities bucked the national downturn: Kolkata and Chennai.
What the Numbers Indicate
ANAROCK's latest report gives us a clear picture. Kolkata's housing market has shown impressive growth, despite broader trends. Here’s a quick breakdown:
- Kolkata: Up 4% from Q3 2024.
- Chennai: Leading with a 33% surge.
- NCR (National Capital Region): Sales fell markedly.
- MMR (Mumbai Metropolitan Region): Experiences contractions in buyer interest.
- Bengaluru: Tech hub showing reduced activity.
- Hyderabad: Another city impacted by the slowdown.
These figures reveal how regional dynamics protect certain areas from broader economic challenges. Buyers in Kolkata are attracted to affordable housing and improved infrastructure.
Kolkata's Unique Path
Several factors drove this growth. The city has a steady demand for mid-segment housing. Developers are increasing projects in new suburbs, drawing young professionals and families. Unlike Delhi or Mumbai, Kolkata's market shows stability. It relies on local buyers and investors looking for long-term gains.
Meanwhile, Chennai’s boom is fueled by industrial expansion and IT corridors. But Kolkata’s growth is quieter and more resilient. Investments in infrastructure improvement, such as metro expansions and riverfront developments, make properties more appealing. Compared to southern or western rivals, prices stay competitive, attracting cost-conscious buyers.
Struggles in Other Cities
The challenges faced by other cities contrast sharply. NCR is dealing with high inventory and regulatory hurdles. MMR grapples with skyrocketing prices that discourage average buyers. Bengaluru and Hyderabad, former tech boom centres, now face oversupply and shifting job markets. These downturns reflect caution among buyers due to inflation and interest rate hikes.
Looking Forward
Investors might find hidden gems in Kolkata for those seeking value. Keep an eye on new launches in places like New Town or Salt Lake. Chennai continues its strong trend, but diversification could do well.
Experts predict that if national trends stabilise, more cities could follow suit. For now, Kolkata’s 4% uptick signals opportunities. Stay tuned for Q4 data to see if this momentum persists.