Kolkata: Kolkata is witnessing an unprecedented surge in office space leasing in 2025.
In Q3 alone, 0.6 million sq ft was leased, taking the total office space leased in Kolkata to a record 1.5 million sq ft in the first nine months of the year.
The technology sector has been the primary catalyst. It accounted for 60 per cent of the total space leased out in the JAS quarter.
This was followed by research, consulting and analytics firms (14 per cent) and flexible space operators (11 per cent).
Nevertheless, the city faces a scarcity of available space in Grade A office buildings. And despite demand, rental and sales prices remain relatively low compared to other major Indian cities.
This discrepancy is due to rising construction and land costs. This had deterred new commercial projects, with developers favouring residential projects only.
More IT centres and GCCs will drive land leasing in Kolkata. The annual leasing of office space is expected to clock 2 million + sq ft next year.
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