Summary:

India's logistics and industrial sector showed notable growth in the first half of 2024, according to JLL. Major cities such as Mumbai, Delhi NCR, Bengaluru, and others experienced significant yearover-year rent increases of 4.8% for Grade A and 6.4% for Grade B properties. This growth reflects strong demand for warehousing and light manufacturing leases.

According to the report, Grade A properties had a vacancy rate of 6.6% in H1 2024, compared to 15.4% for Grade B buildings. Gross absorption in the top eight cities totaled 24.2 million square feet, with Grade A assets accounting for 70% and Grade B 30%. The total industrial property supply is 393 million square feet, with an expected increase to 595 million square feet by 2027. The organized warehouse supply for Grade A is 204 million square feet, exceeding Grade B's 189 million. The 3PL industry remains the most significant demand driver, with growth fueled by rapid commerce, the National Logistics Policy, e-commerce expansion, and ESG considerations.

Source: IBEF 

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