+
Delhi-NCR Warehousing Rent Up 4% in H1 2023
WAREHOUSING & LOGISTICS

Delhi-NCR Warehousing Rent Up 4% in H1 2023

According to real estate consultant Vestian, the average monthly rent of warehousing and logistics space in and around the national capital region had risen by 4 percent annually to Rs 22.5 per sq ft in the first half of this year due to increased demand. The leasing of warehousing and logistics space in Delhi-NCR had witnessed a 68 percent increase, reaching 4.7 million sq ft during the January-June period of the current year compared to 2.8 million sq ft in the same period of the previous year.

Vestian's Chief Executive Officer, Shrinivas Rao, mentioned that the Indian warehousing and logistics sector was navigating global challenges with a foundation of strong and sustainable fundamentals. He highlighted that multiple large-scale infrastructure projects were in the pipeline across the country to enhance connectivity and decrease transit time.

As per a report by Vestian, across seven major cities, the micro-markets within Delhi-NCR reported the highest average rentals of Rs 22.5 per sq ft per month, whereas it was Rs 21.6 in the preceding year.

Bengaluru closely followed with a rate of Rs 22 per sq ft per month, showcasing the city's significance in the logistics sector. Rent in Bengaluru remained constant.

In Pune, the monthly weighted average rentals remained unchanged at Rs 20.9 per square foot, which was a slight increase from Rs 20.8 during the first half of the previous year.

Hyderabad witnessed a monthly rent of Rs 20.5 per square foot, in comparison to Rs 20.4 per sq ft during the corresponding period of the preceding year.

In Chennai, there was a marginal decrease in the monthly rent, which fell to Rs 19.9 per square foot from Rs 20.

Mumbai experienced a 2 percent growth in monthly rent, reaching Rs 19.7 per sq ft from Rs 19.3.

In Kolkata, the rent remained steady at Rs 18.2 per sq ft per month during the January-June period of the current year.

Also read: 
Infosys Inks $1.64 billion deal with Liberty Global
Reliance and Partners invest $12M in Caelux's Solar Tech


According to real estate consultant Vestian, the average monthly rent of warehousing and logistics space in and around the national capital region had risen by 4 percent annually to Rs 22.5 per sq ft in the first half of this year due to increased demand. The leasing of warehousing and logistics space in Delhi-NCR had witnessed a 68 percent increase, reaching 4.7 million sq ft during the January-June period of the current year compared to 2.8 million sq ft in the same period of the previous year. Vestian's Chief Executive Officer, Shrinivas Rao, mentioned that the Indian warehousing and logistics sector was navigating global challenges with a foundation of strong and sustainable fundamentals. He highlighted that multiple large-scale infrastructure projects were in the pipeline across the country to enhance connectivity and decrease transit time. As per a report by Vestian, across seven major cities, the micro-markets within Delhi-NCR reported the highest average rentals of Rs 22.5 per sq ft per month, whereas it was Rs 21.6 in the preceding year. Bengaluru closely followed with a rate of Rs 22 per sq ft per month, showcasing the city's significance in the logistics sector. Rent in Bengaluru remained constant. In Pune, the monthly weighted average rentals remained unchanged at Rs 20.9 per square foot, which was a slight increase from Rs 20.8 during the first half of the previous year. Hyderabad witnessed a monthly rent of Rs 20.5 per square foot, in comparison to Rs 20.4 per sq ft during the corresponding period of the preceding year. In Chennai, there was a marginal decrease in the monthly rent, which fell to Rs 19.9 per square foot from Rs 20. Mumbai experienced a 2 percent growth in monthly rent, reaching Rs 19.7 per sq ft from Rs 19.3. In Kolkata, the rent remained steady at Rs 18.2 per sq ft per month during the January-June period of the current year. Also read:  Infosys Inks $1.64 billion deal with Liberty Global Reliance and Partners invest $12M in Caelux's Solar Tech

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code