Learn more by clicking our most recent Kolkata MarketBeat reports on the various sectors below.
Kolkata MarketBeat Reports
16/04/2024
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 office market recorded gross leasing volumes (GLV) of 0.21 MSF in Q1 2024, a 52% decline on a quarterly basis. IT-BPM segment dominated the first quarter’s volume with a 70% share. The city’s prime office corridor, Salt Lake Sector V, accounted for nearly 90% of leasing volumes. After robust supply addition in 2023, the pipeline for 2024 is low at around 0.8 MSF, though expected to pick up substantially in 2025. The headline office vacancy rate declined by 30 bps q-o-q. Overall, rentals remained largely stable.
Kolkata Retail Report
Kolkata recorded retail leasing volumes of ~40,000 SF in Q1-2024. Main streets accounted for 90% of leasing volumes. Fashion segment dominated with over 50% share in quarterly leasing volumes. Certain peripheral locations attracted retailers keen on expanding their presence and catering to a diverse set of consumers. Headline mall vacancy increased marginally to 6.7% on a quarterly basis. Quoted rentals at the city’s malls remained unchanged on a quarterly basis while main streets witnessed a 3-5% quarterly increase.
Kolkata Residential Report
Unit launches in Kolkata residential market witnessed a 16% q-o-q decline in Q1-2024 compared to same period last year. However, the decline is likely to be temporary with several projects in the pipeline. Peripheral submarkets (North, South, South-west) constituted 87% of quarterly launches. Quarterly growth of 5-6% in capital values across north-east, south-east and central micro markets and 7-8% in rentals across the north east and south east submarkets was witnessed.
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.
India Investment Report
The investment activity recorded in Q2 was INR 158.5 bn (USD 1.92 Bn) which was 63% higher than the previous quarter’s activity and 60% higher than the activity recorded in Q2-22.
RELATED INSIGHTS
Insights • Government / Public Sector
Telangana 2050: Envisioning Infrastructure and Real Estate for the Future
This white paper explores the intricate relationship between infrastructure development and real estate growth in Telangana, drawing inspiration from Chief Minister Sri A Revanth Reddy’s vision for the state's future.
02/04/2024
Research
Kerala's Cities Emerge as Real Estate Sector’s Top Picks
Cushman and Wakefield India Research recently released a research publication, India's Next 10 Emerging Markets, which identified the top 10 tier-II cities of India from a broader list of 17 cities having the highest growth potential in the commercial real estate sector.
03/11/2023
Research
West Bengal-The Gateway to New Growth for Corporate India
The report highlights the level of development in West Bengal and how various reforms are being formed by the state government to attract investors. The report delves into various industrial reforms, and realty reforms that will help in the economic activity of the state.