Monthly Real Estate Monitor to Kolkata - December 2012


By JLL India

Kolkata’s office market.!

The leasing activity in Kolkata’s office market was decreased in November, 2012. However, occupiers’ enquiries about leasing office space in the market increased during the month.

There were no major transactions or / completions. Due to low vacancy, the rents & capital values of Park Street &  topsia increased.

Retail market..!

In November, 2012 continued steady consumer demand was seen in the retail market. The key transactions in November included Forever New & Clarks leasing space in Forum Mall at Elgin Road and Domino’s Pizza leasing space at VIP road.

Due to the increase in leasing activity, vacancy decreased. Rents & capital values increased over the month in most of Kolkata’s submarkets.


Residential projects..!

The sales of residential projects across Kolkata remained stable over the November month. Bengal DCL launched Sampoorna in New  town Action Area - II. The rents of Prince Anwar Shah Road, E M Bypass, Lake  town and Howrah increased. Capital Values also increased in every submarket.


 INFRASTRUCTURE ONGOING ..!

The work on the line that will run from New Garia  to  Airport Metro is in progress. The project will stretch over 32 km & have an overall cost of Rs. 4,000 Crore

Office
Rents
Capital Value



Key Areas
Rs. per sq. ft per month

Rs. per sq. ft
Park Street
110 to  140
12,000 to  16,000
 Topsia
70 to  80
8,000 to  10,000
Salt Lake
40 to  50
4,000 to  5,000
Rajarhat
32 to  35
3,000 to  3,500


Retail
Rents
Capital Value
Key Areas
Rs. per sq. ft per month
Rs. per sq. ft


Elgin Road
170 to  230
17,000 to  22,500
Park Street (high street)
150 to  200
15,000 to  20,000
Prince Anwar Shah Road
100 to  140
10,000 to  13,000
Salt Lake
70 to  100
7,000 to  10,000




Residential
Rents
Capital Value



Key Areas
Rs. per month for a 1,000 sq ft 2 BHK flat

Rs. per sq. ft
Alipore
40,000 to  50,000
10,000 to  17,000
PA Shah Road
20,000 to  30,000
4,000 to  10,000
EM Bypass
15,000 to  23,000
3,300 to  8,000
Lake  to wn
13,000 to  18,000
3,000 to  6,000
Behala
10,000 to  14,000
3,000 to  5,000
Howrah
6,000 to  9,000
2,200 to  3,500



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About Jones Lang LaSalle ...!

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide  to  clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of more than USD 3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately
2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with USD 47 billion of assets under management.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 22,200 employees operating in 79 offices in 14 countries across the region. The firm was named the Best Property Consultancy in Asia Pacific at ‘The Asia Pacific Property Awards 2012 in association with Bloomberg Television’.

For further information, please visit our website, www.ap.joneslanglasalle.com

About Jones Lang LaSalle India...!

Jones Lang LaSalle is India’s premier and largest professional services firm specializing in real estate. With an extensive geographic footprint across eleven cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimba to re) and a staff strength of over 5400, the firm provides inves to rs, developers, local corporate and multinational companies with a comprehensive range of services including research, analytics, consultancy, transactions, project and development services, integrated facility management, property and asset management, sustainability, Industrial, capital markets, residential, hotels, health care, senior living, education and retail advisory.

For further information, please visit www.joneslanglasalle.co.in

For more information about research

Ashu to sh Limaye
Head, Research and REIS
ashu to sh.limaye@ap.jll.com
+91 98211 07054

Trivita Roy
Assistant Vice President, Research
trivita.roy@ap.jll.com
+91 40 4040 9100


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