KOLKATA: The city's residential realty market , which had seen a spike in supply in 2014, has suffered a steady slump through the following two years. “The flurry of legislation that has been in discussion has left us confused. The market focus has shifted from bringing in newer products to selling off the older stock,“ said Rishi Jain, executive director of the Jain Group.Property launches fell 15% in the second half of 2016 as against the previous corresponding period. Around 34% of the new products launched in the second half of 2016 were from South Kolkata -up from 27% a year ago.“Lack of land parcels has been the biggest hurdle in the North. Around 40% of the fresh properties launched in the second half of 2016 were in Rajarhat, though this was lower than a year back.

Source: Economic Times January 31, 2017 08:22 UTC