Registration of residential properties in the Calcutta Metropolitan Area jumped 70 per cent year-onyear and 25 per cent on a month-on-month basis in January, reported Knight Frank.

The area recorded 4178 registrations of residential sale agreements in December compared with 2,391 in January 2022 and 3,274 in December.

In the last 18 months, 80,242 sale agreements have been registered taking advantage of 2 per cent rebate in stamp duty and 10 per cent discount on area circle rate, announced by the state in July 2021.

In contrast, 47,317 sale deeds were registered during the 18 months prior to the announcement of the rebate. The north zone contributed 36 per cent of the registration followed by 34 per cent in the south.

Sushil Mohta, president of Credai West Bengal, said developers are upbeat about the year ahead. Shishir Baijal, chairman and MD, Knight Frank India, said the rebate will encourage both buyers and developers.