Office: While overall rents remained largely stable, developers continued to offer benefits like reduced common area maintenance charges and higher rent-free period to rationalize the overall expense of occupiers, who have taken a severe hit on their businesses due to the pandemic outbreak, subsequent lockdown and resultant economic uncertainty.
Retail: Despite the relaxation in lockdown norms, like other cities, Kolkata’s retail sector too has not seen much of revival in terms of retailer activity since majority of the brands/retailers across malls and main streets continue to be at status quo and have put their plans of store expansions on hold for the next 6-9 months.
Residential: While new unit launches are expected to reach pre-COVID levels only by H1 2021 with the near term focus on under construction projects and clearing the existing, unsold inventory, demand though showing early signs of recovery is also anticipated to witness better traction in the coming 6-9 month period.
India Investment: The private equity inflows on a YTD basis have declined by 72% compared to the corresponding period last year, largely due to delays in investment decisions, but the continued interest in office (core and core-plus) as well as warehousing/logistics segment is a positive sign for the overall real estate sector.
Learn more by clicking our most recent Kolkata MarketBeat reports below.