A-grade industrial leasing hits 33.3M sq ft in Jan–Sep, nearly half in Delhi NCR and Chennai
Summary
Colliers India says Grade A industrial and warehousing leasing across eight cities reached 33.3M sq ft in January–September, up 26% from 26.5M a year earlier. Q3 alone saw 11.4M sq ft, the highest quarter in recent years.
Key points
- Jan–Sep by city: Delhi NCR 9.3M, Chennai 6.4M, Bengaluru 4.5M, Mumbai 3.6M, Pune 3.4M, Ahmedabad 2.2M and Hyderabad 1.8M sq ft.
- Farukh Nagar and NH 48 in Delhi NCR plus Bhiwandi near Mumbai took almost a third of all leasing.
- Third-party logistics led with over 11M sq ft, followed by engineering at 6.6M; automotive grew 70%.
- New Grade A supply rose 19% to 34.5M sq ft, with Ahmedabad up 160% and Pune up 105%.
- Vacancy edged up to 16% and average rents were largely stable. Colliers expects 40–45M sq ft for the full year.
What it means for Korean companiesDemand from auto suppliers in Chennai and Pune is rising fast, while heavy new supply in Ahmedabad and Pune leaves room to negotiate rent. Tailor your negotiating approach to each city's supply.