Office space transaction in Kolkata fails to pick up in Q3

At just over 0.09 million sq ft, overall transaction volume in office space was unable to pick up in Kolkata this quarter as well said a recent report. Lease activity was driven by assortment of industries including Technology firms which shared about 33% of the absorption pie while, Engineering firms came in next at 25% share. FMCG and Pharmaceutical sectors both contributed 11% to the transaction volumes. Bulk of the leasing volumes was concluded in Sector V due to availability of large floor plates. A number of tenants whose leases were about to end were looking to benefit from affordable rents and high availability of good quality office space in peripheral area.

Read more: Economic Times