A few years ago, office space in Kolkata was prohibitively expensive, even for small, very generic office suites in a nondescript region of the city. This was a boomtown, a place on the rise with mass immigration, massive increase in population and mass increase in incoming businesses and commercial opportunities. It quickly became one of the most important cities in the country, and among the more important ones in that region of the world. However, in recent years, this migration and influx of businesses and overall population boom have leveled off, and this makes people just starting out reticent to set up their corporate office in Kolkata, eyeballing the next booming place to do so.
The truth of the matter is, the leveling off of growth of a city is not an indication of the cities inevitable demise, nor does it indicate that the present value and economic/political significance are lost, simply because it isn’t growing at the rate it was before. If we valued everything like this, we would all be considered obsolete in elderly stopped physically maturing!
There are a few reasons to look into office space in Kolkata now, more so than when it was growing much faster than present times. Before I point this out, though, let’s point out that this pandemic that we all recently had to deal with and still hasn’t quite gone away has caused most places to level off in their growth, and that’s going to be a global trend probably for a decade or 2, with us just looking our wounds and trying to hang on to our current qualities of life as best we can. This happens historically, and it will happen again.
The biggest reason, really, to set up a corporate office in Kolkata is the fact that the city is still extremely important in the country and very important in the region. The city has a reputation for being very modern, very prosperous and very safe, not to mention harboring a lot of very successful and respected businesses in regional and global circles. In other words, not unlike being headquartered in someplace like Los Angeles, New York, London or Amsterdam, being located in the city lends your business a lot of credibility and a sense of stability as well as a general vibe of having a potentially prosperous future. This isn’t all perceived, as this is an excellent city in which to operate a business or cultivate a startup, with plenty of workforce, infrastructure, amenities and a great quality of living to back up operating the business.
Along with this, office space in Kolkata is much more affordable in the wake of the pandemic and that decrease demand after the boom leveled off. Most older business owners and have set up headquarters in prosperous towns know the little secret of waiting until the boom has leveled off and real estate prices are much cheaper. This applies to residential and commercial property, and we will be discussing at length in another piece the merits of searching for residential living in this area as well.