There is a surprising change in Kolkata’s present commercial property market, where an average deal size commercial property of 7500 sq ft remains the same inert, but for the rented commercial properties, market experts are predicting a straightway march of 5-10% greater value in coming days. During the last two quarters the real estate market has been seeing approx 20% abrupt development in overall transactions. Apparently it’s a slight healthier option to buy commercial property in Kolkata than going for rental condition as per the recent market perceptive.
Going by the expert advice it is foreseen that the rental cost of commercial properties in Kolkata is going to have a rush leap of 5-10% within coming 6 months in major investment areas like Salt Lake Sec-V, Rajarhat, and other commercial line-up of the E.M. Bypass and Topsia area. Whereas the regular deal of 7500 sq feet commercial property is on a lower cascade. Experts say near about 3 lakh sq feet of commercial realty space was taken on rent in the beginning of 2016. People, who think that this flair comes out of the IT industry domination, have to alter their conception regarding the same. This growth is majorly centred on the rapid expansion of home-grown companies. Global IT firms are rather keen on having a giant commercial set-up on lease. Comparing with the other cities Kolkata is much active because of its slowdown policy despite profusion of such dwellers.
Above all the Bengal Govt.’s SEZ policy is real obstacle for IT- software and hardware industries to invest in this state. This has been a crying issue against West Bengal’s economical growth. In 2011 when TMC had been set as the ruling party of Bengal this major lapse in system took place. There is a common speculation on the Govt.’s decision to pull the policy to grant SEZ status to the industry. It would help tenders from Wipro and Infosys to decamp. Wipro has made recently a fresh application for ITIT facilitated services SEZ rambled over 19.8 hectares at Rajarhat. The basic demands for commercial spaces in Kolkata are coming from Banking and financial companies for setting up their regional offices, telecom companies for their customer offices and FMCG companies for their retail units.