Learn more by clicking our most recent Kolkata MarketBeat reports on the various sectors below.
Kolkata MarketBeat Reports
30/09/2024
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 over ~53,500 SF in Q3, an 11% y-o-y growth. Main streets accounted for ~98% of quarterly leasing volumes. Fashion led the retail segment with an 80% share followed by accessories & lifestyle segment (9%). City-wide headline mall vacancy remained unchanged at 6.8% in the quarter. Suburban locations, including Farahat and Kankurgachi, and peripheral locations such as Garia and Rajarhat recorded rental growth of 2-3% q-o-q.
Kolkata Residential Report
Kolkata residential market saw 3,300-unit launches, a 17% growth over Q2-24. The peripheral submarkets led with 53% share followed by the north-east submarket (42%) and central Kolkata (5%). Mid-segment accounted for 60% share, reflecting 26% q-o-q growth. The affordable segment comprised 27% share followed by the high-end and luxury segment (13%). Capital values across the north-east rose by 8-9% y-o-y. Rentals grew 4-5% q-o-q across the north-east and the south-east.
Kolkata Industrial Report
Kolkata saw over 1 MSF of warehouse leasing volume, a 20% growth over H2 2023. Third party logistics firms led with 44% share. E-commerce and retail sectors followed with shares of 18% and 17% respectively. NH16 submarket dominated with 62% share. NH19 and Old Delhi Road contributed 19% each to lease volumes. New warehousing supply of ~0.6 MSF was witnessed at NH19 and Old Delhi Road. Warehouse rentals recorded 4-5% y-o-y growth. Land rates increased by 10-12% y-o-y. Industrial rentals increased by 3-4% y-o-y while land rates increased by 5-7% y-o-y.
India Capital Market Report
Q2 2024 witnessed massive investment inflows amounting to INR 231.5 Bn (USD 2.77 Bn), marking a 1.5x q-o-q growth. The Logistics & Industrial (L&I) segment led with 56% share.
RELATED INSIGHTS
Insights
India, the world’s fastest-growing economy, is set to reach USD 5 trillion by 2027, becoming the third largest globally. This growth will bring numerous opportunities, especially in consumption-driven sectors like retail.
19/09/2024
Research • Workplace
From Flex to Managed: Evolution of the Flex Space Industry
The evolution of the flex segment in India’s office market has been a story of rapid transformation. The flex space operator footprint surged by 23% in 2022 and 18% in 2023, marking the sharpest rise seen in history! With H1-24 already adding about 5 MSF to the total inventory, 2024 continues to maintain this momentum.
03/09/2024
Research • Workplace
REWORKING the Office Asia Pacific
Our ‘REWORKING’ series examines decision-making for occupiers under four key considerations: Cost, Carbon, Culture and Community – under which the changing demands, needs and impacts on office spaces and strategies can be examined.
Khurshed Gandhi • 03/11/2023