The demand for premium office spaces in Kolkata’s Central Business District (CBD) has been witnessing a significant surge, as businesses seek to establish their presence in the heart of the city. Key areas like Park Street, Camac Street, Esplanade, and Dalhousie are now hotspots for top-notch real estate developments, with several leading realtors launching state-of-the-art commercial properties to cater to high-profile tenants.
This growing trend is largely driven by the increasing need for modern, sophisticated office environments that align with global standards. Developers are going beyond conventional offerings, incorporating a range of premium amenities such as ample parking spaces, well-appointed cafeterias, international-standard interiors, and on-site gyms. These facilities are designed to attract and retain companies looking for an upscale workspace that reflects their brand image and provides a conducive environment for productivity.
The rising demand for business parks is also fuelled by the modern amenities these projects offer, which are transforming the realty market. According to the CBRE India Office Figures Q2 report, absorption increased by 33% year over year to 0.4 million square feet in the April–June quarter of 2024, marking a substantial increase in the market for office space leasing in Kolkata. With 40% of occupancy, the technology sector was the main driver of this increase. BFSI (Banking, Financial Services, and Insurance) came in second with 21%, while flexible space operators came in third with 10%.
Keventer One by Keventer Realty, for instance, will feature the first helipad of its kind in Eastern India, catering to high-end corporate clients. Speaking on the trend, B.P. Singh Roy, Chief Operating Officer of Keventer Realty, said, “The demand for high-end office spaces in Kolkata’s CBD reflects the city’s evolving business landscape. Companies are increasingly recognizing the importance of providing their employees with an environment that is not only functional but also inspiring.” He further added that at Keventer Realty, the company is committed to delivering office spaces that combine cutting-edge design with world-class amenities, ensuring our tenants have everything they need to thrive.
“Over the past year, we’ve observed a significant surge in demand for premium office space in Kolkata’s central business district. This growth is largely driven by the need for modern amenities and state-of-the-art infrastructure, which businesses today view as essential for fostering productivity and attracting top talent. Additionally, the improved connectivity offered by the East-West Metro corridor has made these locations more accessible and appealing, encouraging companies to invest in prime real estate here. As the city continues to develop, we expect this trend to gain even more momentum,” Mr Ravi Gupta, director of The Top Group said.
As Kolkata continues to grow as a commercial hub, the push for premium office spaces is expected to gain further momentum, with more developers eyeing the central districts for their upcoming projects.
