Kolkata MarketBeat Reports

Kolkata recorded gross leasing volumes (GLV) of ~0.62 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 ~2.08 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 2,222 residential unit launches in Q1 2026, marking a strong 48% q-o-q growth despite a 28% y-o-y decline. Peripheral submarkets led with 39% share, followed by North East at 29% and South East at 20% shares. The mid-segment led with a 52% share, while high-end and luxury rose 2.5x q-o-q to a record 25%. Affordable housing grew 3.5x q-o-q to reach 23% of launches. Driven by activity in the Northeast and Southeast, capital values rose 1–2% q-o-q and 6–7% y-o-y, with rentals up 1–2% q-o-q.

Kolkata recorded ~1.8 MSF of warehouse leasing in H2‑25, led by NH‑16 (53%) across Amta‑Ranihati, Uluberia, Dhulagarh and Domjur, with NH‑19 (47%) anchored by Dankuni and Old Delhi Road. Manufacturing (40%), e‑commerce (20%) and 3PL (18%) drove demand. New completions of ~2 MSF strengthened supply across NH‑16/NH‑19. Warehouse rentals rose 4–5% YoY and land values 5–7% YoY. Industrial activity picked up with ~0.09 MSF leasing.

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.