Leasing of industrial and warehousing spaces in Bengaluru, Chennai, and Hyderabad rose sharply by 58% year-on-year during the January–March quarter, reaching 4.9 million sq ft compared to 3.2 million sq ft in the same period last year, according to Colliers. The growth was largely driven by third-party logistics providers, e-commerce players, and light manufacturing firms. Bengaluru led the surge, with leasing more than doubling to 1.7 million sq ft from 0.8 million sq ft a year earlier. In Chennai, the leasing activities rose to 15% to 2.3 million sq ft from 2 million sq ft and jumped threefold in Hyderabad to 0.9 million square feet from 0.3 million sq ft. Vijay Ganesh, Managing Director, Industrial & Logistics Services at Colliers India, said, “Although long-term fundamentals of India’s industrial and warehousing market remain intact, developers are likely to adopt a measured approach with respect to supply additions in the near term amid prevailing geopolitical crisis and supply chain disruptions.”
