Sector V’s IT Powerhouse: Igniting Kolkata’s Retail Revolution

Salt Lake Sector V has long been associated with IT/ITeS industries in Kolkata. Today, the IT boom is fast becoming a leading catalyst for extraordinary retail activity, with a multiplier effect in the heart of Kolkata’s commercial and retail real estate market. The high-salaried working population resulting from IT expansion has catalysed significant demand for retail and commercial space, spelling exciting opportunities for brokers, property consultants, and retail brands keen on a slice of Kolkata’s commercial retail action.

Sector V – Salt Lake City IT Park, Bengal, has witnessed a meteoric rise in IT company concentrations in the past decade. With IT/ITES companies and startups joining the market every other month, the working population with disposable incomes is only increasing, creating a heightened demand for retail. It’s not rocket science! The daily footfalls of over 2.5 lakh working professionals going to and from Sector V to commute to and fro for work effectively give the much-required visibility and consumer base. An increase in disposable income is only adding more sheen to the diversified range of retail products people want. In that sense, the story goes that as IT parks and complexes in Sector V expand, demand for quality commercial spaces is only expected to grow in the city of Kolkata.

In an attempt to meet this spiralling demand in commercial real estate, new commercial projects with increasing office spaces and an inbuilt retail network are coming up in Sector V, adding fuel to the fire. The smart developers are building developments with offices and mixed-use facilities, allowing easy access to daily amenities for the larger working population. Commercial projects in Sector V today are not just about rentable office space anymore but are being strategically laid out for additional opportunities. Most projects are built with all that and more. From food courts, restaurants, cafes, and small and large-format utility stores to diagnostic centres and lifestyle retail, the development of a multi-amenity space has been planned out. The plans are in place, and the success story is just a matter of time.

Demand for quality commercial space in Kolkata in Sector V is being generated across the board for the different retail categories. While demand for food, drinks, and snacks is a given in commercial and retail real estate, today, there is a need for large-format corporate clubs and convenience stores, speciality retail stores such as electronic showrooms, and lifestyle retail brands, among others. Retail brands that find their audience in these categories are being given a great opportunity to set up their shop right in the thick of it and in full view of potential consumers.

Key real estate players are not far behind, for one, as we have seen them come up with commercial projects such as Infinity Benchmark, Infinity Think Tank, and Godrej Waterside, among others, right in the centre of the shopping mall activity in Sector V. Many are well-connected to the IT office spaces within or around, such as Infosys, Capgemini, NIIT, XLTeletech, Accenture, among others. Office space development is planned in a strategic commercial real estate manner where retail space development is strategically put in place to allow both businesses to grow while the developments help one another to complement each other.

Road infrastructure is improving, and with new metro routes being worked on with Sector V as one of the key nodes, the connectivity for the people working and living around the sector is also opening up, further driving retailing in this part of the city. As convenience gets thrown around, the connectivity just keeps getting better. New metro routes and extended metro timings will bring a new set of footfalls from the residential hubs around Sector V as well and further escalate the activity.

Commercial projects around Sector V are being worked upon, and the wheels are already in motion, and for retail and commercial real estate in the city, this might just be the tipping point. The metro extension will only help retail businesses increase their sales turnover and fuel retail activity further. Retailers, brokers, and property consultants can all understand the advantage here now. They see the time is right to lock in commercial space in Kolkata in the right areas as opportunities around IT offices open up. Retail brands with a vision in high-potential areas of Kolkata will want to explore expansion opportunities in Sector V, especially in a way that allows them to target the high-salaried working class with spending power. The continuous expansion of IT offices in and around Sector V assures continuous consumer inflow and the basic reason for retail. As long as the IT industry continues to grow, shopping will continue to flourish as more money is invested in commercial projects in the neighbourhood.

Kolkata is firmly entrenched as a serious player in the IT sector in India, and as that story has expanded, so too will retail in Sector V and the city as a whole. Both have found a way to coexist and create an even larger opportunity for all invested in one or the other. 

If you are on the lookout for a perfect retail space in Salt Lake Sector V that comes in one of the most rule-abiding buildings in the city and guarantees nothing but a smooth sailing operation for you, then do not hesitate to choose spaces with Infinity Group in Salt Lake Sector V. They hold retail spaces that come with large covered parking spaces for your customers’ convenience, 100% power backup so you can work without any kind of disruption, and are a result of a mixed-mode development to provide your business with a large base of corporate and domestic tenants from the massive footfall at Salt Lake Sector V alone. Conveniently located to offer you as a retailer both access and visibility for all that Salt Lake Sector V has to offer for walk-ins.