Industrial, Warehousing Demand Increases By 17%

New Delhi: Industrial and warehousing demand witnessed 20.2 million square feet of leasing in top five cities in the January-September period, registering a 17 per cent annual growth, according to a report on Wednesday.

The quarterly average space uptake has steadily increased from 5.7 mn sq ft in 2021 to 6.7 mn sq ft in 2024, indicating steady and sturdy growth in industrial and warehousing demand, according to the report by Colliers India. Third-party logistics (3PL) players accounted for 35 per cent of Grade A space uptake, followed by engineering and FMCG segments.

At about 22 mn sq ft, supply rose 29 per cdnt YoY in the first three quarters of 2024. During the first three quarters of the year, Delhi-NCR and Chennai cumulatively accounted for 53 per cent share in the overall leasing.

At a micro-market level, Bhiwandi in Mumbai has witnessed 3.7 mn sq ft of leasing activity in 2024, followed by Oragadam in Chennai and Chakan-Talegaon in Pune.