Kolkata MarketBeat Reports

Kolkata’s office market recorded a strong gross leasing volume of 0.60 MSF, driven by robust demand from IT-BPM companies and GCCs. Salt Lake Sector V and Rajarhat continued to dominate leasing activity, reaffirming their position as the city’s key commercial office hubs. Flexible workspace operators and engineering & manufacturing firms also contributed to demand. With no new Grade A office supply added, citywide vacancy declined sharply, while office rentals continued to appreciate across prime submarkets.

Kolkata recorded retail leasing of 0.05 MSFSF in Q2 2026, with main streets driving activity and accounting for a dominant 96% share. Leasing was supported by strong demand across prime high streets such as Park Street, Camac Street, Dumdum and Diamond Harbour Road. Hypermarkets led demand, followed by fashion and F&B segments, reflecting diverse retail expansion. With no new mall supply and Grade A mall vacancy at 1.1%, mall leasing remained muted.

Kolkata recorded 3,343 residential launches in Q2 2026, marking strong quarterly and annual growth. Peripheral submarkets led with a 48% share, followed by the North East submarket with most of the launch activity concentrated in Rajarhat, reflecting sustained development across key corridors. North and Central submarkets contributed a smaller share with respect to new launches. The mid-segment dominated launches with 61% share, while high-end and luxury housing saw a record growth with 37% share, highlighting rising demand for premium homes. Affordable housing remained limited. Capital values were appreciated steadily on both quarterly and annual basis, led by North East and South East submarkets due to strong demand.

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.