CBRE South Asia Pvt. Ltd. has announced that the Industrial and Logistics (I&L) sector in Kolkata is poised to experience its highest supply in five years in 2023. This surge is attributed to the completion of long-awaited projects across the city and its outskirts, with the total I&L supply expected to reach approximately 5.2 million square feet.
The strategic positioning of Kolkata as the gateway to the eastern part of the country and its connectivity to landlocked nations like Nepal and Bhutan, coupled with the state’s robust industrial capabilities, has significantly bolstered the I&L sector in the city. Projections for 2023 indicate that the total I&L leasing is likely to reach around 3.5 million square feet, maintaining the momentum from 2022. Notably, from January to September 2023, the total leasing in the I&L sector in Kolkata already reached 2.7 million square feet. The city currently boasts nearly 10 million square feet of Grade A logistics developments in key regions such as NH-2, NH-6, and Taratala.
The growth in the I&L sector has predominantly occurred in the micro-markets of NH-2 and NH-6, strategically positioned along the National Highway. This suggests the potential for further expansion in both industrial and commercial activities, particularly in areas like Dankuni and Singur. NH-6 emerges as a versatile micro-market, encompassing established industrial zones like Dhulagarh and developing areas such as Uluberia, reflecting a blend of industrial and residential development.
In the Taratala micro-market, locations such as Taratala Road and Hyde Road leading up to Maheshtala showcase a unique mix of industrial and commercial activities, pointing towards substantial growth and progress in these areas.