Kolkata sees 15-20% rise in the commercial realty deals in 2 months on govt push

Only 5% of the 0.3 million square feet of new inventory in mall space is lying vacant in Kolkata. Chief Minister Mamata Banerjee’s calls to set up businesses in the state seem to have started getting responses with commercial space deals clocking a 15-20% rise in number in the last two months. The biggest deal in the commercial realty space was Fosma’s 30,000-sq realty space was Fosma’s 30,000-sqft space in Salt Lake.

“Companies like Fosma have been on the lookout to enter Kolkata for a long time but were unsure about the idea. The stable government is finally closing deals. To begin with, Fosma Maritime Institute and Research Organisation has bought the space in Godrhe Riverside for approximately Rs 16 crore,” said Rahul Baid, head of corporate transactions at Champalall & Co, a city-based real estate consultant.

Read more: Economic Times