Since retail growth in east India has taken in-charge, investors have started showing interest in investing commercial properties all again. This time, rather than rental properties they are here to buy commercial property in Kolkata. Already major business houses have booked huge warehouse spaces across the state. Reports say that, in past one year Bengal has seen a 20% jump-up in the demand of warehouse properties all over. Business biggies like- Philips, Century LED, Haier, Anu Saris are such companies that have consummated huge logistic spaces. The average size of these deals is range between 10,000 and 65,000 sq ft. Most of these requirements are coming from manufacturing and retail industry.
It’s not that rental commercial property segment is running shortage of demand. Average rentals in FY 2016-17 standing close to Rs. 15-17%, where as it used to be Rs. 11-12 per sq ft in the preceding accounting year 2015-16. This boom is a certain outcome of companies’ business expansion strategy in the eastern and northeastern part of India. The warehouse space in Kolkata and extended portal of Kolkata doesn’t only foster the Bengal market; it won’t go beyond saying that there are several major business brands who are establishing Bengal as the pylon of north eastern business zone.
Statistics of Knight Frank shows that, the beginning of last FY observed an addition of 25 lakh sq ft of warehousing space in Srijan Industrial Logistic Park, on Bombay Road near Kona Expressway, Howrah. Out of which 17 lakh spaces have already been occupied by big brands.
Apart from Howrah Diamond Harbor Road, Dugapur and Joka are some key areas, where new development for warehouse spaces is taking place, these areas either belong to inside the urban business area or beside highways. Part of Park Circus, B.T. Road and EM Bypass also are witnessing smaller sized warehouse space (5000 sq ft) development in great numbers. Major companies have taken in warehouses and distribution centers in and around the city of Kolkata. Amazon has just set up seven new fulfillment centers in India, one is in west Bengal. Future Group too has invested in warehouse spaces in Burdwan and Barasat.
- LNN(Liyans News Network)
It’s not that rental commercial property segment is running shortage of demand. Average rentals in FY 2016-17 standing close to Rs. 15-17%, where as it used to be Rs. 11-12 per sq ft in the preceding accounting year 2015-16. This boom is a certain outcome of companies’ business expansion strategy in the eastern and northeastern part of India. The warehouse space in Kolkata and extended portal of Kolkata doesn’t only foster the Bengal market; it won’t go beyond saying that there are several major business brands who are establishing Bengal as the pylon of north eastern business zone.
Statistics of Knight Frank shows that, the beginning of last FY observed an addition of 25 lakh sq ft of warehousing space in Srijan Industrial Logistic Park, on Bombay Road near Kona Expressway, Howrah. Out of which 17 lakh spaces have already been occupied by big brands.
Apart from Howrah Diamond Harbor Road, Dugapur and Joka are some key areas, where new development for warehouse spaces is taking place, these areas either belong to inside the urban business area or beside highways. Part of Park Circus, B.T. Road and EM Bypass also are witnessing smaller sized warehouse space (5000 sq ft) development in great numbers. Major companies have taken in warehouses and distribution centers in and around the city of Kolkata. Amazon has just set up seven new fulfillment centers in India, one is in west Bengal. Future Group too has invested in warehouse spaces in Burdwan and Barasat.
- LNN(Liyans News Network)
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