Demand for industrial, storage sites up 35 percent in 2021, new supply up 64 percent: Report


New Delhi, Jan 15 (PTI) In the last year i.e. 2021, the demand for industrial and storage sites on lease in eight major cities of the country grew by 35 per cent to 351 million sq ft, from 26 million sq ft in 2020 . Sevilles India has given this information.

This growth was mainly driven by strong demand from third-party logistics and e-commerce.

Property consultant Sevilles India said in a report that new supplies grew 64 per cent to 36 million sq ft during the period under review, from 22 million sq ft in the previous year.

The report noted that third-party logistics (3PL) companies and e-commerce companies maintained the demand for warehouses. It accounted for 62 per cent of the total demand. It was followed by the manufacturing sector with 14 percent.

Delhi-NCR was at the fore among the top eight cities in India, with 81 million sq ft in demand in 2021. It was followed by Pune.

Sevilles India said fares in major cities remained stable in 2021.