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No show for Kolkata office market in Q1 2016

April 14, 2016 | By

With just 170,000 sq ft of Grade An office space ingested, by report by Colliers International, in Q1 2016, Kolkata office assimilation stayed frail because of miserable reaction from the occupiers.

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The aggregate office space absorbtion in this period stood 32 for every penny less when contrasted with the past quarter’s retention of 250,000 sq ft. IT-ITeS occupiers finished the outline with more than 37 for every penny of the aggregate, trailed by FMCG with 16 for each penny and pharmaceuticals with 14 for every penny.

Real exchanges amid the quarter incorporated the lease of 30,000 sq ft office space by “Fosma Meritime” in Godrej Water Side and the lease of 26,000 sq ft by “ICFAI Business School” in an Individual Building.

Miniaturized scale marketwise, Sector V/New Town remained the favored smaller scale market among occupiers, with 95 for every penny offer in the aggregate ingestion. More than 3.8 million sq ft of empty office space was accessible for fit-out, of which 46 for every penny was situated in miniaturized scale markets like New Town and Rajarhat, 45 for every penny was situated in Sector V and rest 8 for every penny was situated in CBD, SBD and other fringe territories like Narendrapur, Sonarpur and Madhyamgram.

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