2024 Sees Record Demand for Industrial and Warehousing Spaces: Savills India
In 2024, the demand for industrial and warehousing spaces in major Indian cities reached a record high of 645 lakh square feet, fueled by sectors like e-commerce and manufacturing, according to Savills India.
Industrial SpacesWarehousingEcommerceManufacturingSavills IndiaReal EstateJan 18, 2025
This surge, as reported by Savills India, was driven by the robust growth of sectors such as e-commerce, manufacturing, and logistics.
The exponential rise in online shopping and the government's push towards manufacturing have played pivotal roles in this unprecedented demand.
Savills India, a leading real estate consultancy firm, has been tracking the trends in the industrial and warehousing space for several years.
The firm noted that the demand for these spaces has been consistently on the rise, but the jump in 2024 is particularly noteworthy.
According to their report, the primary factors contributing to this surge include the rapid growth of e-commerce platforms, the expansion of manufacturing hubs, and the increasing focus on supply chain efficiency.
The report also highlighted that major cities such as Mumbai, Delhi-NCR, and Bengaluru are leading the charge, with significant contributions from secondary cities like Chennai, Hyderabad, and Pune.
These cities have seen a substantial influx of investments from both domestic and international players, fueling the demand for modern and efficient warehousing facilities.
Frequently Asked Questions
What is the record demand for industrial and warehousing spaces in 2024 in India?
The demand for industrial and warehousing spaces in India reached a record high of 645 lakh square feet in 2024.
Which sectors are driving the demand for industrial and warehousing spaces?
The demand is primarily driven by sectors such as e-commerce, manufacturing, and logistics.
Which cities are leading in the demand for industrial and warehousing spaces?
Major cities like Mumbai, Delhi-NCR, and Bengaluru are leading, with significant contributions from secondary cities like Chennai, Hyderabad, and Pune.
What challenges are mentioned in the report regarding the industrial and warehousing sector?
The report mentions a shortage of skilled labor, the need for better infrastructure, and a shortage of quality warehousing spaces in some cities, which has driven up rental costs.
What services does Savills India offer in the industrial and warehousing sector?
Savills India offers a wide range of services, including market research, investment advisory, and project management, to help businesses navigate the complexities of the industrial and warehousing sector.
Related News Articles
MahaRERA Cracks Down on Housing Projects in Maharashtra for Advertisement Violations
MahaRERA has taken action against 628 housing projects in Maharashtra for not displaying registration numbers and QR codes in their advertisements, resulting in fines of Rs 88.90 lakh.
NCP Goes Solo: Ajit Pawar Announces Independent Contest in Maharashtra Civic Polls
Maharashtra Deputy Chief Minister Ajit Pawar declares NCP will contest civic elections independently, cites limitations in growth due to alliances
Mumbai Residential Market Sees 20.4% Price Surge in 2 Years Amidst Sustained Demand and Limited Supply
Mumbai's residential prices have increased by 20.4% in the last two years, driven by sustained demand and limited supply. Under-construction properties are gaining momentum, with supply increasing by 17% QoQ.
Real Estate Stocks Surge: BSE Realty Index Jumps 3.94%
Real estate stocks have witnessed a significant boost, with the BSE Realty index climbing 240.94 points or 3.94% to 6,359.33 at 9:47 IST. This upward trend reflects a growing optimism in the sector.
Ridhira Group Appoints Vivek Chaturvedi to Lead Expansion in Wellness Real Estate
Ridhira Group, a prominent player in the wellness real estate sector, has appointed Vivek Chaturvedi to steer its growth and enhance customer experience.
ESA Game Welcomes 19,000 Children to Thrilling MI vs LSG Match
The ESA Game, a significant initiative by the Mumbai Real Estate Association, is set to welcome 19,000 children to the highly anticipated MI vs LSG match, ensuring a memorable experience for all young cricket enthusiasts.