Gross absorption of office space in Kolkata looks up in Q1

While there was no addition of fresh supply in the office space market in Kolkata, the first quarter of the new calendar year took off on a positive note in the city with absorptions higher than that in same period last year.

With 0.2 million sq ft of office space absorption between January and March, the city showed a rise from the same period last year where absorption stood at 170,000 sq ft.

Even with absorptions in office space the vacancy in the segment remained at 25%, mainly because of the vacancy rate in peripheral areas of Sector V, New Town and Rajarhat being over almost 40%.

Read more: The Economic Times