Kolkata's office rents increased by 16% in 2025, reaching ₹48 per square foot, according to Knight Frank. This surge in leasing, up 69% from the previous year, was driven by domestic firms and flex operators, not global capability centers. Despite the significant percentage growth, Kolkata remains one of India's most affordable office markets. Experts note the demand is structural, highlighting the city's appeal as a cost-effective corporate hub, though transaction volumes remain lower than other major Indian cities.