The leading real estate firm CBRE Group has reported huge growth in industrial and logistics leasing in the Indian real estate sector – 40% on quarterly basis and 18% on annual basis. In spite of high inflation, the growth has been recorded due to high demand in leasing. This has been disclosed by the CBRE group in its latest report titled: ‘India Market Monitor-Q3, 2022′. The first nine months of 2022 saw increase in leasing activity 18 % more than that the corresponding period last year. The trend is likely to continue further,’ predicts the report. On the whole, leasing activity is expected to be 28 to 32 million square feet in 2022, it said.
The report put the combined share of Delhi-NCR and Mumbai at 57%. For the nine-month period, 22 mn sq ft. leasing activity was witnessed which was almost stable on year-on-year basis. A total additional supply of 13 mn sft. was recorded during the nine-month period, the report said. Key sectors that dominated leasing included 3PL (50 %), engineering and manufacturing (17 %), retail (9 %), e-commerce (7 %) and FMCG (4 %) continued leasing activities. On the whole, 68% was the combined share of Bengaluru, Chennai and Hyderabad in the supply addition in Q3 2022. Quarterly rental growth was witnessed mainly in Pune, Delhi-NCR, Bengaluru and Kolkata.
