This study aims to explore buyer preferences and their impact on the sales of privately developed affordable housing in Kolkata, identifying key factors influencing unsold inventory across different typologies of residential developments.
The literature review identified 119 independent variables that indicate buyers’ preferences. A questionnaire survey was conducted across 32 privately developed housing complexes offering affordable units across different typologies of residential developments, categorised as standalone, small-scale and medium-scale housing complexes. Homebuyers from these complexes ranked the parameters based on their priority. Stilwell’s Rank-Sum method determined parameters’ weights, and satisfaction levels were gathered using a Likert-type scale, later converted into percentage satisfaction using Cummins’ percentage of scale maximum method. The utility score was obtained by multiplying parameter weights with percentage satisfaction. A multivariate regression analysis identified significant factors affecting sales performance across different housing complex sizes using utility scores as independent variables and the percentage of unsold units as the dependent variable.
The study identifies key homebuyers’ preferences across different residential typologies. For standalone buildings, a robust sewer facility, high-quality finishing, accessibility to banks/ATMs, availability of taxis and street furniture significantly influence desirability. In small-scale housing complexes, festive celebrations foster community cohesion, while adequate signage, proximity to fruit sellers and reliable sewage infrastructure enhance convenience. Medium-scale housing complexes prioritise proximity to supermarkets, with traffic congestion negatively affecting desirability. Street furniture and internal design elements, such as the number of balconies and carpet areas, contribute to residential satisfaction. These findings highlight the interplay between infrastructure, community engagement and spatial quality.
This study presents unique insights into buyer preferences and impact on unsold inventory in Kolkata’s privately developed affordable housing, offering data-driven guidance for developers and policymakers to enhance market alignment and housing affordability.
