India’s total warehousing stock surpassed the 533 Mn sq.ft mark in 2024, according to a report from real estate services firm, JLL. The annual growth was majorly driven by the leasing of warehousing spaces in Tier II and Tier cities, which have emerged as key warehousing hubs in 2024. Tier II and Tier III cities contributed 100 million sq. ft (approx.) to the total warehousing stock (18.7 per cent of the total stock), the report added. Since 2017, the warehousing stock for the Tier II and Tier III cities has surged four-fold, which has resulted in the record numbers.
