Learn more by clicking our most recent Kolkata MarketBeat reports on the various sectors below.
Kolkata MarketBeat Reports
03/07/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
CURRENT MARKETBEATS
Kolkata Office Report
Kolkata recorded gross leasing volumes (GLV) of 0.79 MSF in Q2, a 3.5x jump on q-o-q basis. GLV in H1 2024 stood at over 1 MSF, a 19% growth as compared to H1 2023. The IT sector drove space take up with 35% share. Rajarhat dominated with 76% share in quarterly leasing, while Salt Lake Sector V accounted for 23% share. A supply of ~ 0.8 MSF is expected in the current year. Net absorption was recorded at 0.78 MSF compared to 0.1 MSF in Q1 2024. City-wide rentals increased by 4-5% on a y-o-y basis.
Kolkata Retail Report
Kolkata recorded retail leasing volumes of ~63,000 SF in Q2 2024, a near 60% growth q-o-q and a 45% expansion as compared to the same period last year. Malls comprised 35% of quarterly leasing volumes compared to 10% in Q1-24. Fashion segment comprised ~ 60% of quarterly leasing volumes followed by footwear and CDIT brands with 16% shares each. Headline mall vacancy rate remained stable at 6.8% q-o-q. Quoted mall rentals remained unchanged q-o-q. Rentals on main streets increased by 3-4% on a quarterly basis. Main street rentals witnessed a 3-4% rise from last quarter while the mall rentals largely remained unchanged.
Kolkata Residential Report
Kolkata recorded 2,800 residential unit launches. Peripheral submarkets maintained dominance, accounting for nearly 75% of launches compared to 67% in Q2, 2023. Mid-segment comprised around 55% of quarterly launches, affordable segment contributed the rest. Nearly 57% of mid-segment launches were in peripheral submarkets. Affordable launches grew 82% y-o-y, spread across peripheral south and north Kolkata. Capital values increased 5-6% q-o-q across the north-east and southern submarkets. Capital values at peripheral submarkets remained constant. Rentals recorded 6-8% q-o-q growth across the north-east and south-east.
Kolkata Industrial Report
Kolkata warehouse leasing volume dropped by 38% in comparison to the strong leasing activity witnessed in the first half of the year and a 27% drop in annual from last year. Manufacturing sector made up 95% of the leasing activities. Developers are looking to increase supply on the back of rising enquiries for quality warehousing space in the NH-6 micromarket. City wide warehouse rentals increased 8-10% in the second half while city-wide land prices moved up by around 10-12% year on year.
RELATED INSIGHTS
Insights • Investment / Capital Markets
Is India Building Enough to Power Its Digital Transformation?
It is estimated that India will be adding 464 MW of new Colo capacity each year until 2028. Despite this, India still needs to catch up with other comparable nations. We believe that accelerating this pace could unlock significant opportunities for India’s data centre and technology sectors.
27/06/2024
Research • Workplace
Pan India leasing volumes remained strong in Q1 2024, crossing the 20 MSF mark for the third time in the post Covid period. A gross leasing of over 20 MSF for two consecutive quarters is a significant record for the office real estate market, suggesting that activity in India is moving on a higher plane.
14/05/2024
Insights
Five Fast City Facts Bengaluru Q1 2024
What You Need to Know in Today's Bengaluru Commercial Real Estate (CRE) Market.
03/05/2024