Large-sized deals drove 40% of industrial & warehousing demand in 2024

Large-sized deals drove 40% of industrial & warehousing demand

News: In 2024, industrial and warehousing demand across the top five cities saw 25.6 million sq ft of gross leasing, growing 2% YoY despite a slowdown in Q4.

Delhi NCR led with a 26% share, followed by Chennai at 23%. Q4 demand reached 5.5 million sq ft, with Pune and Bengaluru contributing over half.

Third-Party Logistics (3PL) dominated leasing at 33%, while Engineering and Electronics gained traction. Bhiwandi (Mumbai) led with 4.5 million sq ft, followed by Chakan-Talegaon (Pune) and Oragadam (Chennai) at over 2.5 million sq ft each. New supply surged 22% YoY to 28 million sq ft, the highest in recent years. Rentals rose 5-10%, while vacancy levels remained stable at 13-14%.