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Kolkata MarketBeat Reports

22/04/2022
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: Despite the third COVID wave and temporary disruptions, Kolkata has gained a steady momentum in 2022. Fresh leases comprised of all transaction volume in the current quarter which is an encouraging sign. Flex spaces has led the growth by contributing about 37% of gross leasing volume followed by IT-BPM and engineering & manufacturing.

Residential: Q1 2022 revealed a promise for the Kolkata residential market, with 7.3% growth over the previous quarter and a robust 126% expansion from the same time last year. Residential launches remained strong with 3,108 units and sales were strong on the back of affordability and continuation of policy initiatives.

Retail: Leasing activity is seeing a turnaround in Kolkata from the disruption it faced in the early parts of Q1 2022. Higher leasing activity was seen in main streets, while it remained negligible in malls. A healthy recovery of footfalls can be seen from mid-February, after a sharp decline due to the 3rd COVID wave. Over 55,000 sf was leased by apparel chains – national consumer electronics, F&B, hypermarkets, and accessory brands are looking for space marking a healthy and sustained recovery.

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

CURRENT MARKETBEATS

Office Buildings CBD
Kolkata Office Report

While the flex space market is leading Kolkata on the road to recovery, Q1 2022 did not see any new supply of addition. However, a new supply of approximately 1.1 msf. is expected in the coming quarters of 2022.

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Shopping Retail
Kolkata Retail Report

There was no Grade A mall supply in Q1 2022 this could become a hindrance to the expansion plans of prominent retailers. The demand for quality retail space remains strong and space enquires remained at an uptrend. City-wide mall vacancies remain unchanged from the previous quarter and stood at 6.3%.

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Warehouse Internal Rack
Kolkata Residential Report

After a gap of 3 quarters, Kolkata’s luxury and high-end residential market witnessed some activity. In Q1 2022 14% of cumulative launches were by high-end and luxury segments compared to no launches over Q2-Q4 in 2021.

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Warehouse Internal Rack
India Investment Report

Besides the slow rate of growth at 5.4% y-o-y, the Indian economy remained the fastest-growing major economy globally in Q1 2022. This quarter also recorded a private equity investment of INR 57.9 bn., a decline of 38.4% q-o-q but with a promise of picking up pace in coming quarters.

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Warehouse Internal Rack
Kolkata Industrial Report

Kolkata’s warehousing and industrial rentals remained largely stable in H2 2021. However, the NH2 submarket, which remains a key location for warehousing transactions, has witnessed a gradual rise in rentals in specific properties. Warehousing rentals are likely to firm up over the next few quarters with the supply of Grade-A facilities remaining relatively constrained against rising demand for such quality warehousing space.

CLICK HERE TO DOWNLOAD THE REPORT

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