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Kolkata MarketBeat Reports

19/10/2022
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: In the third quarter of 2022 Kolkata recorded gross leasing volume (GLV) of 292,000 sf cumulating to a 147% expansion compared to the same period last year. Kolkata has witnessed consistent healthy leasing volumes during the year, and total leasing volume at the end of Q3 is already at par with the whole year’s leasing in 2021, by the end of Q4 leasing levels are likely to exceed the previous year.

Residential: In Q3 2022 Kolkata saw about a 5X jump in new launches compared to the same time last year. Launches and sales remain healthy with no major impact on affordability despite the rising interest rates and input costs. The government bodies and RERA are playing a proactive and pivotal role in keeping the demand steady with incentives and key policy initiatives. 

RetailIn the third quarter of 2022, Kolkata’s retail market picked up momentum, backed by healthy main street activity, as mall developers and retailers gear up for the festive season around the corner. Prominent shopping malls and main streets reported a sharp increase in footfalls and exceeded by 100% of pre-COVID levels on weekdays and weekends. 

Learn more by clicking our most recent Kolkata MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Kolkata Office Report

Fresh space take-up by pan-India flex space operators is pointing towards the rising confidence of stakeholders in growth prospects, as demand remains strong from large and medium enterprises. Despite improving demand for Grade A supply, office rentals broadly remained unchanged.

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Shopping Retail
Kolkata Retail Report

Overall mall rentals in Kolkata remained stable in Q3 2022, while select Grade-A malls saw 3-4% q-o-q appreciation. Mall rentals are close to pre-COVID levels and landlords have been pushing retailer-friendly terms given the healthy recovery of businesses.

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Warehouse Internal Rack
Kolkata Residential Report

Mid-segment accounted for around 58% share and the affordable segment with 39% share in Q3 2022 launches. Most developers are refraining from price hikes resulting in city-wide average capital values remaining unchanged. 

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Warehouse Internal Rack
India Investment Report

The third quarter recorded private equity investment inflows of INR 131.2 bn (USD 2.27 bn), a near 1.3x growth in investment receipts as compared to the previous quarter and same period last year (Q3-21).

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Warehouse Internal Rack
Kolkata Industrial Report

In H1 2022, a lease volume of 1.4 msf in warehousing was recorded in Kolkata. In this half alone, transaction volume significantly surpassed the whole year of 2021. The FMCG was the leading sector accounting for ~36% of the half-yearly leasing volume, followed by 3PL with 26% and the retail sector with 21%. Kolkata is expected to maintain this trajectory of growth in the coming half as well. 

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