Kolkata office stock grows 6% to 24.4 mn sq ft in H1 2026
Times of India | 29 August 2026
Kolkata: Kolkata’s occupied office stock rose to 24.4 million sq ft in H1 2026, from 22.3 million sq ft in H1 2025, marking a 6% year-on-year expansion and adding about 2.1 million sq ft of occupied space, according to data collated by real estate consultancy firm Knight Frank India.
The increase places the city in line with the national growth trend, as India’s top eight office markets expanded their occupied base to 901.1 million sq ft.
Despite being the smallest market in the eight-city set, Kolkata’s performance is significant because it shows resilience in a cycle led largely by larger technology and GCC-driven hubs such as Bengaluru, Hyderabad and Pune.
Kolkata accounts for around 2.7% of India’s occupied office stock, indicating a modest but stable role in the country’s commercial real estate landscape. Its 6% growth matches Chennai’s pace and is stronger than NCR’s 2%, suggesting that demand is gradually deepening even without the scale advantages enjoyed by India’s larger office corridors.
The city’s office demand is supported by its cost competitiveness, established talent base, improving infrastructure and continued traction from IT/ITeS, BFSI support functions, consulting, flexible workspace operators and domestic enterprises.
Occupiers seeking efficient rentals and access to eastern India’s workforce continue to view Kolkata as a practical alternative to more expensive metros. This positioning is especially relevant as companies balance expansion plans with cost rationalisation and distributed workforce strategies.
The growth also points to a healthier absorption environment, where existing stock is being steadily taken up rather than remaining idle. However, Kolkata’s next phase will depend on the delivery of Grade A supply, stronger institutional ownership, improved connectivity to business districts and the ability to attract larger mandates from global capability centres and technology firms. While GCC expansion is currently concentrated in Bengaluru, Hyderabad, Pune, NCR and Mumbai, Kolkata can benefit if it builds specialised office ecosystems around talent, infrastructure and operational affordability.
“Kolkata’s 24.4 million sq ft occupied stock reflects a market progressing steadily rather than rapidly. The 6% annual gain indicates sustained occupier activity, but the city’s low base also highlights significant headroom for future expansion within India’s widening office economy over time,” said a Knight Frank India official.