Leasing of commercial, logistics areas up 18 laptop in Jan-Mar to 160 lakh sq ft in 24 cities: Savills, ETCFO
Leasing of logistics and industrial areas rose 18.5 per cent in January-March this yr to 160 lakh sq. toes throughout 24 cities on higher demand, in accordance with Savills India. The leasing of commercial and logistics areas stood at 135 lakh sq. toes within the year-ago interval throughout 24 tier I-II-III cities.
Actual property guide Savills India knowledge confirmed that Tier-I cities accounted for 79 per cent of the leasing actions, whereas Tier-II and Tier-III cities contributed 21 per cent.
Tier- I cities embody Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR, and Pune.
Tier- II and Tier-III cities embody Guwahati, Bhubaneshwar, Patna, Hosur, Coimbatore, Rajpura, Lucknow, Jaipur, Nagpur, Surat, Indore, Kochi, Hubli, Vizag, Belgaum and Anantapur.
Savills famous that manufacturing phase accounted for 30 per cent of the full absorption of commercial and logistics areas in January-March 2025, adopted by the 3PL (third-party logistics) gamers at 26 per cent, retail phase 12 per cent, e-commerce phase 10 per cent and FMCG & FMCD phase at 9 per cent.
Furthermore, the brand new provide of commercial & logistics areas rose 23 per cent to 159 lakh sq. toes in January-March 2025 from 129 lakh sq. toes within the corresponding interval of the previous yr.
Within the new provide, the information confirmed that Tier-I cities contributed a considerable 12.4 million sq. toes (78 per cent and Tier-II and Tier-III cities added 3.6 million sq ft (22 per cent).
