Calcutta bucked the national trend in recording a 26 per cent jump in launch of residential projects during the January-March quarter even as sales slipped 31 per cent in the same period, underperforming against the rest of the country.

According to a report published by real estate consulting firm Anarock, the city added 5,400 units during the quarter compared with the same period of 2024. In contrast, new supply across seven cities covered by the study dipped by 10 per cent.

In Calcutta, about 59 per cent of the launches were in the affordable and mid segments (priced up to ₹80 lakh). However, luxury and ultra-luxury home segment (priced above ₹1.5 crore) was 42 per cent of launches nationally, followed by the premium segment (₹80 lakh to ₹1.5 crore) which accounted for a 27 per cent share.

While Calcutta and Bangalore were the only two cities where launches grew, sales skid in all markets. According to the report, sales declined to 3,900 units in January-March compared with 5,650 units in the same period of last year.

Anuj Puri, chairman of Anarock blamed the tapering of sales to rising housing prices and weak sentiments. Average residential property prices across the top seven cities saw a significant jump in the last one year — ranging between 10-34 per cent in the last quarter compared with the same period of 2024. This was primarily due to steep new supply additions in the luxury and ultra luxury segment, and overall strong demand, the report added.

“Rising housing prices and global headwinds like ongoing geopolitical tensions and a weak global economy, have taken their toll on India’s residential market activity. These factors cascaded down into the housing market in Q1 2025,” Anuj Puri, chairman of Anarock, said.

However, city-based developers sounded bullish despite the blip.

Sushil Mohta, president of Credai West Bengal and chairman of Merlin Group, also blamed it on the volatile stock market. “We are quite upbeat that the market will pick up in the next quarter onwards,” Mohta said.