Warehousing Transaction Volume Falls By 19% To 3.5 Mn Sft In 2024

Hyderabad: Warehousing transaction volume dropped by 19 per cent in the city, to 3.5 million sft in 2024, compared to 4.3 million sft in 2023, according to a report.

India’s eight primary markets reached 56.4 million sft in 2024, a 12 per cent year-on-year (YoY) increase, from 50.3 million sft in 2023. While Mumbai emerged as the leading warehousing market with transaction volume of 10.3 million sft in 2024, Hyderabad posted the least transaction at 3.5 million sft, Knight Frank India said in its report. Industry wise the space absorption in 2024 was driven by manufacturing sector accounting for 34 per cent of the total transactions, closely followed by the retail sector at 33 per cent.

Within manufacturing, renewable and sustainable energy, automotive, and auto-ancillary industries have been key drivers of demand. Government initiatives such as Make in India and the Production Linked Incentive (PLI) schemes have significantly boosted Hyderabad as manufacturing and logistics hub.