The JPJ Times
Today’s Article
Mumbai’s 27 per square foot warehouse rent tops all of India, according to a recent report in mumbai.
Among the seven major cities, Mumbai Metropolitan Area has the highest warehouse rent, at 27 INR per square foot in Real Estate Market.
A study found that Mumbai Metropolitan Region had the highest average warehouse rent (sp. ft.) of the top seven cities. Hyderabad has the cheapest rent in the world at just 20 per square foot.
In the Mumbai Metropolitan Region (MMR), which includes Mumbai and Pune, 32 percent of leasing transactions took place. Bangalore, Chennai, and Hyderabad were the other major metropolitan areas in India.
In the top 10 micromarkets, Bhiwandi, Chakan, and Panvel/Taloja control 41% of the Grade A warehouse space lease market.
The majority of warehouse leasing space was occupied by third-party logistics (3PL), online retail, manufacturing, and automotive. Fourth Party Logistics has the largest leasing market share, with 42% in indian Real Estate Market.
Furthermore, the study found that the warehouse industry will soon offer a $3.8 billion investment opportunity.
Investors in the sector have so far committed $900 million. Shobhit Agarwal, MD&CEO of Anarock Capital, stated in the report that there is an untapped investment opportunity of $2.8 billion, with much of the capital needed to be allocated toward Grade A warehouse facilities.
In order to meet the expected demand for “Grade A” warehouse space in India over the next three years, the country “will need to create adequate supply,” the report states.
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