Housing sales in the Kolkata real estate market grew to 4,374 units, a modest 2% YoY growth in Q3 2025, indicating a period of sustained stability and capital value appreciation in Kolkata, according to a Knight Frank report.
“The residential sector has maintained its growth trajectory, while the office market, having benefitted from strong transactional activity earlier in the year, is now consolidating its gains, marked by consistent absorption and stable rents in key micro-markets,” the report said.
The city also recorded an 8% Year-on-Year (YoY) increase in average residential prices during Q3 2025. The quarter also witnessed a 1% Quarter-on-Quarter (QoQ) rise in prices, underscoring the market’s resilience and measured, continuous momentum, according to Knight Frank India.
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“The confirmed residential price appreciation of 8% YoY in Q3 2025 is a powerful indicator of the market’s fundamental health. This growth is not speculative; it is a direct consequence of sustained end-user activity and a preference for quality housing. With a clear trend of buyers focusing on reputable developers and infrastructure-rich locations, Kolkata’s housing market continues its trajectory towards stable, sustainable capital value growth,” Joydeep Paul, Senior Director, Occupier Strategy and Solutions, Kolkata, Knight Frank India said.
Office transactions grew 190% YoY
Kolkata’s office market entered a consolidation phase in Q3 2025, with steady leasing and rental activity. Transaction volumes reached 0.5 million sq ft, up 190% year-over-year, indicating resilience despite a smaller base.
Average office rents in the city grew 14% YoY and 5% QoQ, the highest rental growth among all major cities tracked by Knight Frank. The Peripheral Business Districts (PBDs) continued to see the strongest demand, led by Third-Party IT Outsourcing and flex space operators.
“The Q3 office market in Kolkata is a story of successful consolidation,” Paul added. “Consistent demand, coupled with tight Grade A supply, has ensured firm rental values and occupancy levels. Kolkata’s positioning as a cost-effective and stable corporate hub remains its key strength.”