- Leasing activity grew by about 80% in comparison with H2 2017
- Leasing activity was largely driven by occupants from the e-commerce (36%) and 3PL (21%) sectors, followed by retail (13%), and engineering and manufacturing (7%) corporates
- Rental values in the NH-1 micro-market appreciated marginally by about 4%, owing to increasing demand in the micro market. However, rentals in other micro markets remained stable.
- Leasing activity grew exponentially with 3PL players dominated leasing activity with a 54% share, followed by e-commerce (17%) and retail (16%) occupiers
- Leasing activity was concentrated in Warehousing parks such as New Era, BGR Logistics and Antariksh Logitech
- The city witnessed the launch of new investment-grade projects spanning approximately 9.8 million sq. ft. during the review period
- Growing enquiries for quality space, especially for Bhiwandi, led to a 22-24% rental appreciation during the review period. However, rental values across Panvel remained stable.
- Leasing activity in Bangalore remained stable during the first half of 2018, as compared to the second half of 2017
- E-commerce players led leasing activity with an about 50% share, followed by 3PL (about 23%) and fashion retail (about 22%) companies
- Rental values remained largely stable across North, East and West Bangalore while it increased by 5% in South Bangalore
- South Bangalore led the leasing activity, accounting for about 59% of the total transacted space, due to conclusion of few large sized transactions. It was followed by East Bangalore (22%), with multiple mid-size transactions and West Bangalore (19%).
- Leasing activity was largely driven by automobile (23%), FMCG (17%), and e-commerce (14%) companies, followed by 3PL (9%) and engineering and manufacturing players
- Western Industrial Belt dominated the leasing activity, by contributing to more than 60% of activity.
- Occupiers from the e-commerce, auto ancillary, and engineering & manufacturing segments preferred independent developments in the micro-market.
- Rental values, largely in West Chennai, dipped marginally due to supply influx. However, rental values in the Southern and Northern industrial belts remained stable
- Leasing activity in Hyderabad increased by about 25% during the first half of 2018, compared with H2 2017
- Majority of the leasing was concentrated in the Northern Corridor (90%) and was primarily led by occupiers from the 3PL (38%) and FMCG (18%) sectors, followed by retail
- The city also witnessed space addition of about 0.6 million sq. ft. in the form of three medium-sized developments in the Northern Corridor.
- Rising activity in the Northern corridor and addition of investment grade supply led to a 4% rental appreciation on a half-yearly basis. However, rental values in other micro markets remained largely stable.
- Kolkata witnessed a marginal increase in demand as close to 0.8 million sq. ft. of space was leased in H1 2018
- Dhulagarh micro-market along NH-6 accounted for about 65% of the leasing, followed by Dankuni at 54%.
- Occupiers from the engineering and manufacturing (16%), e-commerce (61%) primarily led demand, followed by 3PL players
- Due to limited availability of space, NH-2 and NH-6 micro-markets witnessed rental appreciation of about 8% and 16%, respectively, on a half-yearly basis. However, rentals in the Taratala micro-market remained stable
- Leasing activity in Ahmedabad declined during H1 2018, as compared with H2 2017
- The micro-markets of Bakrol and Changodar led leasing activity and continued to be preferred locations for warehousing activity
- Engineering and manufacturing firms accounted for a majority of the warehousing space take-up
- During the said period, the city witnessed the launch of several medium-to-large-sized developments, spanning a total of 3 million sq. ft
- Rental values remained largely stable across all micro-markets.