ASIA PACIFIC OUTLOOK 2025

KOLKATA

RENT GROWTH

Marginal rent growth is expected in 2024; while prime submarkets have seen rent growth, the city as a whole remains tenant favourable. With significant new supply of around 2.0 msf entering the market in 2025, rental growth is likely to be restricted as developers look to lease out space to prominent occupiers at competitive rates. Rent growth is expected to continue beyond 2025 due to rising tenant demand, though higher new supply will limit the margin of growth.

0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% 1.6% 1.8% 2.0%

570 580 590 600 610 620 630 640 650 660 670

FORECAST

2022 2023 2024F 2025F 2026F 2027F 2028F 2029F

INR/SQFT/YR

Rent growth (%)

RENT (INR/SF/YR) AND RENT GROWTH (% PER ANNUM)

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield