Industrial, logistics leasing across 8 cities in H123 grew 35% Y-o-Y - ITLN

The Indian industrial and logistics sector saw a 35% year-on-year surge in leasing activity, reaching 19.1 million square feet across 8 cities in the first half of 2023. Leasing is expected to continue its momentum in the second half of the year, driven by festive season sales. Delhi-NCR, Mumbai, and Chennai led the leasing activity, accounting for 60% of the total. Supply also increased by 78% year-on-year, with Chennai, Kolkata, and Mumbai leading the way. 3PL players dominated leasing activity, with e-commerce and retail companies also contributing. Rental values increased in most cities, except Mumbai and Kolkata.

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