Kolkata’s real estate market is in transition. With the demand for affordable housing decreasing we are seeing the luxury segment which includes homes that go for more than ₹1 crore do very well. In 2024 to 2025 we see that the number of unsold affordable units (below ₹40 lakh) drop by 20% which at the same time we note that there was a 96% increase in the sale of very expensive homes (above ₹1.5 crore). At Shriji Group we see this shift not as a falloff in the affordable market but as a chance to raise the bar and what we provide for our elite buyers, being one of the best luxury property developers.
Market Trends: Why It Is Shifting Towards Luxury?
In the luxury space we are seeing a renaissance in Kolkata. Reports indicate that while the basic to mid-range segments are doing well, we are also seeing an increase in the high end of the market which is very much present across the city. In H1 2025 it was reported that Kolkata saw a 105% year on year jump in residential launches, with the ₹1 crore + segment seeing a 325% increase. Although we had a 29% drop in total sales for the year high end homes saw a growth of 70% which is an indicator of ongoing faith in premium brands.
Why Buyers Still Bet on Luxury
- Quality, Location & Delivery: Sophisticated buyers prefer build quality and prompt delivery which is what we see in a real estate company like Shriji Group.
- Rising Disposable Income: Professionals and NRIs are moving away from affordable housing into high end projects.
- Limited Affordable Push: Construction costs are going up — we see labor at 150% and materials at 50% which is putting pressure on profits in price competitive projects. Also developers are moving towards the luxury segment which they see as a more stable play.
Kolkata’s Luxury Real Estate Market
A report by Nklusive which noted in 2024 sales of homes between the price range of 5 to 10 crores saw a 52% growth and also reported an average price increase of 6%.
In localities such as Lake Town, Rajarhat, EM Bypass the premium segment, which is that of 3-4 BHK flats over ₹80 lakh, is doing very well.
Kolkata is a city which still does in terms of affordable housing but we see a trend of increasing luxury prices which has only seen about 12% growth since 2018.
How Shrji Group Stands Apart
As a leading real estate company and developer in North Kolkata, Shriji Group Kolkata is at the forefront of and responsive to premium demand in a conscious and ethical way:.
We present product solutions that which play into what our buyers’ expect, in the case of new residential projects in Lake Town we blend luxury with practicality.
Our comprehensive real estate services that see it through from the purchase to the handover stage which is what sets us apart as trusted players as a real estate builders and developers.
Our standing as top real estate developers and estate builders and developers means we put out homes which are an investment in quality, comfort, and value.
Looking Ahead
Affordable housing is still a priority in the city. We see a growth of mid-range and affordable segments by 10-15% if we see improvement in supply and incentive conditions. As for luxury, it is doing well because it is into quality, sustainability and lifestyle which is what the Shriji Group is into and what premium buyers of Kolkata want.
Conclusion
Affordability yes, but luxury is what we see grow. At Shriji Group Kolkata we do more than just react to what is happening, we are at the forefront of it. With our commitment to the highest real estate builder and construction company standards, proven track record in delivery, and in depth local knowledge we provide our clients much more than a home, we give them a statement of their lifestyle.
In the pursuit of comfort, sophistication, and long term value Home Owners go to Shriji Group for all of their real estate in North Kolkata.
