Nabadiganta Township (Sector V)

[soumalya747]

Any idea about Videocon?

[avishar]

Last i saw videocon was a month back,it has topped out but cladding has not started yet.I think they are taking this slow.With a major influx of office space in the Rajarhat/Sector V area in recent times,occupancy is staying at the 30-35% mark which is not healthy.

[arijeetb]

Originally Posted by studdmanster

Videocon will be 30F??

sorry, it was just my wish that this be greater than 30 floors. If one looks at Sector V skyline from New town or from bypass there are several ( Infinity, Omega, videocon, godrej genesis, godrej waterside, merlin infinity etc) that would look at about the same height..none would stand out, but if we had something upward of 30 floors there would be a difference!

As rupakd said videocon now appears topped out and probably has 23 floors.

[arijeetb]

Originally Posted by avishar

Last i saw videocon was a month back,it has topped out but cladding has not started yet.I think they are taking this slow.With a major influx of office space in the Rajarhat/Sector V area in recent times,occupancy is staying at the 30-35% mark which is not healthy.

avishar, are you saying overall occupancy in New Town / Sector V is 30-35% ?

[soumalya747]

Dear Avishar for your kind information Kolkata is still one of the hottest destination for business in India as well as in South Asia. And so many buildings are coming up in Sector V and Newtown within next 12-24 months. So this 30-35% occupancy information is wrong.
4 months before its came to the Economic Times that all the buildings in Salt Lake and Newtown area are going to be full and there will be space crunch in that area also.

[sidney_jec]

30-35 is abysmally low

avishar is that a calculated guess or a word of mouth or you read it somewhere?

[avishar]

Oh i am extremely sorry people,i meant the vacant space is 30-35%.

And no this is not a calculated guess i referred to market report of a prominent real estate research firm Cushman and Wakefield.There are others which do market research for Kolkata like DTZ and Knight Frank.

Cushman and Wakefield just released their 4th quarter research report.Check this pdf.
http://www.cushwake.com/cwmbs4q10/pd...a_off_4q10.pdf

Kolkata is still a market where amount of office space supplied is much more than demand.
Just to give you and idea total office space supplied during the last financial year was
1.9 million sqft,total absorption was .97 million sq ft.Thats about half of the space has been absorbed.

Even for this quarter

Vacancy rates:

Park street/Camac street/Central CBD = 8.3%

Park circus connector/rash behari connector=33.7%

Rajarhat/Sector V=35%.


Just checked,1st quarter of 2011 is also out,here is the link
http://www.cushwake.com/cwmbs1q11/pd...a_off_1q11.pdf

Things are looking up,vacancy has gone down in rajarhat/salt lake area to 32.5%

Office space supplied is 680,000 sq ft,absorbed is 900,000 sq ft which explains the decrease in vacancy rate.

[studdmanster]

TCG Techna | Opposite Wipro Campus | Sec-5

[arijeetb]

Originally Posted by avishar

Oh i am extremely sorry people,i meant the vacant space is 30-35%.

And no this is not a calculated guess i referred to market report of a prominent real estate research firm Cushman and Wakefield.There are others which do market research for Kolkata like DTZ and Knight Frank.

Cushman and Wakefield just released their 4th quarter research report.Check this pdf.
http://www.cushwake.com/cwmbs4q10/pd...a_off_4q10.pdf

Kolkata is still a market where amount of office space supplied is much more than demand.
Just to give you and idea total office space supplied during the last financial year was
1.9 million sqft,total absorption was .97 million sq ft.Thats about half of the space has been absorbed.

Even for this quarter

Vacancy rates:

Park street/Camac street/Central CBD = 8.3%

Park circus connector/rash behari connector=33.7%

Rajarhat/Sector V=35%.


Just checked,1st quarter of 2011 is also out,here is the link
http://www.cushwake.com/cwmbs1q11/pd...a_off_1q11.pdf

Things are looking up,vacancy has gone down in rajarhat/salt lake area to 32.5%

Office space supplied is 680,000 sq ft,absorbed is 900,000 sq ft which explains the decrease in vacancy rate.

avishar, thanks for the Q1 report. It is kinda strange that TCS & CTS are the ones that completed significant leasing transactions when they have the option to construct or expand their own facilities.

IMO, the current vacancy levels should not be a cause for concern in the short term where the outlook on jobs in Kolkata region looks positive. Many of the large projects such as Infospace, Ecospace, DLF 2 etc that are 50% or more complete accounted for a large supply which will take sometime to get fulfilled, hence the current ~70% absorption ratio.

Unless 'poribortoner hawa', leads to a multifold increase in jobs ( which it will not!) Kolkata will not face any demand-supply gap till mid-end 2012 when the above projects and new ones such as Genesis, Waterside 2, Videocon IT, Merlin Infinity etc will be complete. So all is good on the office space front for the next couple of years or so!

[arijeetb]

Originally Posted by studdmanster

TCG Techna | Opposite Wipro Campus | Sec-5

Nice find, Studd Wonder where the exact location is but I am guessing it could be in the empty lands near CSTC bus terminus

[avishar]

Ericsson has taken up 350,000 in DLF IT Park 2.This i read in another report.

[sidney_jec]

any idea whether its a back office or R&D?

[krishanu]

http://www.youtube.com/watch?v=qwBGp0k_hLA

no wonder, these people r njoying d beauty, rather than gazing at d monitors

[Aritra Das]

Originally Posted by avishar

Oh i am extremely sorry people,i meant the vacant space is 30-35%.

And no this is not a calculated guess i referred to market report of a prominent real estate research firm Cushman and Wakefield.There are others which do market research for Kolkata like DTZ and Knight Frank.

Cushman and Wakefield just released their 4th quarter research report.Check this pdf.
http://www.cushwake.com/cwmbs4q10/pd...a_off_4q10.pdf

Kolkata is still a market where amount of office space supplied is much more than demand.
Just to give you and idea total office space supplied during the last financial year was
1.9 million sqft,total absorption was .97 million sq ft.Thats about half of the space has been absorbed.

Even for this quarter

Vacancy rates:

Park street/Camac street/Central CBD = 8.3%

Park circus connector/rash behari connector=33.7%

Rajarhat/Sector V=35%.


Just checked,1st quarter of 2011 is also out,here is the link
http://www.cushwake.com/cwmbs1q11/pd...a_off_1q11.pdf

Things are looking up,vacancy has gone down in rajarhat/salt lake area to 32.5%

Office space supplied is 680,000 sq ft,absorbed is 900,000 sq ft which explains the decrease in vacancy rate.

just happened to go through this article....its old but still encouraging
http://images.businessweek.com/ss/09...sourcers/1.htm

[Aritra Das]

Originally Posted by krishanu

http://www.youtube.com/watch?v=qwBGp0k_hLA

no wonder, these people r njoying d beauty, rather than gazing at d monitors

thats TCS building in the video.....!

[Aritra Das]

Originally Posted by krishanu

http://www.youtube.com/watch?v=qwBGp0k_hLA

no wonder, these people r njoying d beauty, rather than gazing at d monitors

thats TCS building in the video.....!

[arijeetb]

Originally Posted by Aritra Das

thats TCS building in the video.....!

it looks like the video of the norwester that stuck kolkata today evening.

[studdmanster]

Originally Posted by arijeetb

Nice find, Studd Wonder where the exact location is but I am guessing it could be in the empty lands near CSTC bus terminus

it could either be the bus terminus or the land on opposite side of Wipro's new building..that is beside Ambuja plot, however i think it wouldn't be as the land belongs to Army!!..still u never know!!!

[studdmanster]

Originally Posted by arijeetb

it looks like the video of the norwester that stuck kolkata today evening.

In sec-5 i heard some trees got uprooted, but other than that in other parts of the city dint see any trees getting the same treatment!!...however enjoyed the rain last evening, was on my way back home!!!

[arijeetb]

Originally Posted by studdmanster

In sec-5 i heard some trees got uprooted, but other than that in other parts of the city dint see any trees getting the same treatment!!...however enjoyed the rain last evening, was on my way back home!!!

yes there were a few uprooted ones including one ( in the road leading to Webel more) that I almost rammed my car in at 10:30 PM last night. A bit of relief from the unbearable heat of the last couple of days!