Industrial and warehousing demand across India’s top eight cities remained strong in the first nine months of 2026. Grade A leasing reached 33.3 million sq ft, a 26% year-on-year increase.

Delhi NCR and Chennai led the market, together accounting for nearly half of leasing demand in the first three quarters. Pune and Bengaluru also recorded strong momentum, with space uptake rising by 60–70% year on year. Together, the two cities generated close to 8 million sq ft of demand between January and September. Seven of the eight markets recorded higher demand than in the corresponding period of 2025.

Third-party logistics firms accounted for nearly one-third of leasing across most cities, followed by the engineering sector, with a 20% share. Farukh Nagar and NH 48 in Delhi NCR, along with Bhiwandi in Mumbai, remained high-activity clusters, together accounting for almost one-third of year-to-date leasing.

In the third quarter of 2026, industrial and warehousing space uptake exceeded 11 million sq ft, up 63% year on year. The quarter recorded the highest leasing activity in recent years, as the sector remained resilient amid the re-escalation of the West Asia crisis, supply-chain disruptions and trade realignments.