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Kolkata Office Rentals plummets

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Reported sources at the www.propertykhazana.com says that vacancy levels have elevated with almost a quarter of the accessible office space by not finding takers among 1st & 2nd quarter, even the office space across the city has been stroked by the bad business outlook and the marginal places like Rajarhat and Salt Lake are the most impacted by the IT and ITES industry giving the city a icy bear in current months. Large mixture of fresh supply has faced the trouble in this belt by leading to a deep fall in rentals. Cushman & Wakefield which researched on an office space anticipates that the present condition to continue that it has set off an extra rise in vacancy levels. Researcher said to www.propertykhazana.com that, “Extended condition of over-supply will be there till the large space guff happens in the market. Owing to the present trend of low demand, there will be a delay in certain ventures in the further times.”
As per to the sources saying at the www.propertykhazana.com, rentals of office space in Rajarhat declined by a huge 32% in the Q1 & Q2 for both corporates’ and IT/ITES firms against the last year. In Salt Lake IT/ITES space rentals came down by 30% and corporate space in Sector V is little better with rentals by taking 25% immerse. It is the Central Business District (CBD) in each city which has the bad strike. In the NCR including Delhi, Noida and Gurgaon the vacancy rate was clinched at 13% as rental values saw a downfall improvement of 38% in CBD to 22% in Noida. In Mumbai the rentals immerse ranged from 12% in Thane Belapur Road to 45% in Lower Parel and Bandra, in Worli, it immersed at 41%. In Chennai, the CBD at Anna Salai witnessed rentals for corporate offices which fell by 30%, at Alwarpet in T Nagar of CBD rental had fell to 28%. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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