Renewed investors’ interest, rise in private equity and institutional investments in the last two to three years have made Kolkata a prime commercial market in the country that promises growth. With infrastructural development and a progressive Affordable Housing and Township Policies in West Bengal, the state capital continues to thrive and offer a number of development opportunities for residential as well as the commercial segment.
Being a key city in the East of India, it has in recent past witnessed the entry of multi-nationals including companies from the services industry, e-commerce, consulting, manufacturing, pharmaceuticals, consumer and retail sector etc. As the demand for offices continues to grow, the city will have a healthy supply of ready offices in the near future. The strong supply pipeline will establish a number of peripheral markets such as Sector V, New Town and Rajarhat will have ready Grade A commercial space. Then, the city will not just offer a well-developed central region but will also have quality peripheral commercial hotspots.
Kolkata office market is divided into four main submarkets housing one Central Business District, one Secondary Business District and two Peripheral Business Districts of Salt Lake and New Town-Rajarhat. CBD includes Park Street, Camac Street, AJC Bose Road and BBD Bag/Dalhousie primarily housing government and corporate offices. SBD includes relatively new areas along EM Bypass, Topsia and Ruby crossing and houses non-IT corporate offices. The PBD submarkets of Salt Lake and New Town are the emerging office micro-markets of Kolkata, housing both IT & Non-IT offices. The SBD and PBD submarkets tend to attract occupiers and companies with requirement for Grade A office space, large floor plates and sufficient space for back office operations.