From The Economic Times · PTI · · 1m 20s
Industrial Leasing Hits Record 59.1 Mn Sq Ft
India's industrial and warehousing space leasing reaches 59.1 million sq ft in top 24 cities for Jan-Sep, up 7% from last year.
In brief
India's industrial and warehousing space leasing reaches 59.1 million sq ft in top 24 cities for Jan-Sep, up 7% from last year. Savills reports industrial and warehousing space leasing in India's top 24 cities hit a record 59.1 million sq ft in January-September 2024, a 7% increase from the previous year. Originally…
Leasing Rises 7% in Jan-Sep
Savills reports industrial and warehousing space leasing rose 7 per cent in January-September across top 24 cities from 55.3 million sq ft to 59.1 million sq ft.
Top 8 Cities Leased 47.2 Mn Sq Ft
Leasing in top eight major cities reached 47.2 million sq ft from 44 million sq ft in the year-ago period.
Tier II and III Cities Leased 11.9 Mn Sq Ft
Tier-II and III cities saw leasing grow to 11.9 million sq ft from 11.3 million sq ft in the year-ago period.
Fresh Supply Up 25% Annually
Savills data shows fresh supply increased 25 per cent annually to 68.9 million sq ft during January-September.
Tier II Cities Drive 20% Absorption
Mukesh Choudhary noted Tier-II and III markets like Jaipur drive nearly one fifth of the country's total absorption.
Structural Shift in Supply Chains
E-commerce, 3PL providers, and manufacturing units seek high-grade regional hubs to optimize, de-risk and decentralise supply chains.
At a glance
Savills reports industrial and warehousing space leasing in India's top 24 cities hit a record 59.1 million sq ft in January-September 2024, a 7% increase from the previous year.
