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The Kolkata market saw a near 30 per cent drop in quarter-on-quarter absorption rates for office space, according to property consultant CBRE’s India Office Market View for Q2 2014 report.
The city also saw slow movement of office space during the second quarter (April to June) of the year; with IT and ITeS continuing to be the major contributor to the city’s overall office space scenario.
On the supply front, the report mentions that, the city has excess of Grade A supply in the peripheral areas compared to the demand, giving a scope to large office space seekers at competitive rates.
“Location-wise, the Topsia-Kasba connector stretch might be an area to watch out for in the forthcoming quarters. Quality office space and connectivity are likely to propel this micro-market,” Anshuman Magazine, Chairman and Managing Director of CBRE South Asia Pvt Ltd was quoted as per a release by the company.
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