Kolkata MarketBeat Reports

Kolkata recorded gross leasing volumes (GLV) of ~0.25 MSF in Q4‑25. Telecom & media emerged as the largest demand driver with a 43% share, followed by professional services at 28%, while flex operators continued to expand with a 12% share. For 2025, GLV reached ~1.71 MSF, its highest post‑Covid level, supported by sustained IT‑BPM and flex demand. With no new supply added, vacancy declined further, while rentals were appreciated across key submarkets.

Kolkata recorded retail leasing volumes of ~52,000 SF in Q4-25, with main streets leading at 83% share and Grade A malls witnessing healthy traction. Key high streets such as Camac Street, Theatre Road and Sreerampore saw strong activity from hypermarkets, fashion and accessories & lifestyle brands. Malls like Forum Mall, Mani Square and Avani Riverside contributed to quarterly growth, driven by hypermarkets and lifestyle retailers. Hypermarkets led with 35% share, followed by accessories & lifestyle (31%) and fashion (29%). Annual leasing reached ~0.2 MSF, supported by robust demand across prime locations. Grade A mall vacancy remained extremely tight at 2.4%, while rentals on key main streets appreciated marginally, reinforcing strong market fundamentals.

Kolkata recorded ~1,500 residential unit launches in Q4-25, with peripheral submarkets leading at 70% share, followed by North East (17%) and North (12%). Key locations such as Sonarpur, Bhangar, Uttarpara and Rajarhat witnessed healthy activity. Mid-segment dominated with 76% share, while high-end and luxury launches rose to 14%, reflecting growing traction for premium housing. For the full year, launches reached ~12,525 units, supported by strong demand in peripheral and North East submarkets. Capital values appreciated 6–7% y-o-y, led by Northeast and Southeast corridors, while rentals posted steady growth of 1.2% q-o-q, underscoring positive market fundamentals.

Kolkata recorded warehouse leasing volumes of 2 MSF in H1-25, a 27% growth over H1-24. E-commerce firms led with a 43% share, followed by manufacturing firms (22%). 3PL operators contributed 14% to H1 lease volumes. Supply addition of ~2 MSF was recorded across NH-19 and NH-16 submarkets. City-wide headline warehouse rentals increased 4-5% y-o-y, while land rates moved up by 5-7% y-o-y.

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.