Kolkata MarketBeat Reports
Suvishesh Valsan • 10/04/2025
Cushman & Wakefield Kolkata 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 volume (GLV) of 0.26 MSF, a 21% y-o-y growth while net absorption stood at 0.38 MSF in Q1-25. GLV was only driven by fresh leasing with engineering & manufacturing occupiers contributing 39%, followed by BFSI (13%) and flex operators (8%). Salt Lake Sector V and Rajarhat micro markets accounted for ~87% of Q1 GLV. Vacancy rates declined to ~18% due to steady demand and lack of new supply while city-wide rentals remained stable.
Kolkata Retail Report
Kolkata recorded retail leasing volumes of ~37,500 SF in Q1-25. Main streets accounted for ~90% of quarterly leasing volumes. Fashion dominated with over 50% share, followed by F&B (30%) and accessories and lifestyle (11%). City-wide headline mall vacancy remained unchanged at 6.8%, Grade A vacancy remained extremely tight at 2.6%. Quoted mall rentals and city-wide average main street rentals remained unchanged while suburban locations recorded quarterly rental appreciation of 1-2%.
Kolkata Residential Report
Kolkata residential market saw 3070-unit launches in Q1-25. The peripheral submarkets led with ~53% share, followed by the south-east submarket (23%) and north-east submarket (16%). Mid-segment dominated with 47% share followed by the affordable launches (30%) and the high-end and luxury segment (23%). City-wide capital values increased 8-9% y-o-y while rentals increased 1-2 % q-o-q.
Kolkata Industrial Report
Kolkata saw ~ 2.7 MSF of warehouse leasing volume, a 69% from H1-24. 3PL operators contributed 33%, followed by manufacturing (26%). Kolkata recorded new completions of 2.5 MSF in H2 with projects being expedited to meet strong demand. City-wide warehouse rentals grew 4-5% y-o-y while land rates increased by 5-7% y-o-y. Kolkata recorded industrial transactions of 0.2 MSF. City-wide industrial rents also increased 4-5% y-o-y with land rates appreciating 5-7% y-o-y.
India Capital Market Report
Cushman & Wakefield India Capital MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
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