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Thursday, April 25, 2024

Warehouse leasing at a 5 year annual high in Guwahati

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HT Bureau

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GUWAHATI, June 21: Knight Frank India, an international property consultancy, in their latest report – ‘India Warehousing Market Report – 2023’, cited that Guwahati recorded warehousing transaction volume of 1.8mnsq ft in FY23. This is the second-highest transaction volume recorded among the secondary markets of India. With a 14% YoY growth, Guwahati’s small industrial estates of the past are paving the way for organized warehousing due to the city’s potential to serve the neighbouring Tier-II and Tier-III consumption markets. This has made occupiers from diverse sectors to set a warehousing base in Guwahati. In the past five financial years, including FY23, warehousing space leased in Guwahati has scaled up at a compounded annual growth rate of nearly 36% of FY23’s total warehouse leasing.

 

In terms of industry split, 3PL sector occupiers dominated the new warehouse leasing in FY23 with 67% share followed by manufacturing at 9%. The massive increase in the share of 3PL sector’s share to the city’s leasing volume is largely in line with the trend witnessed in several Tier 1 markets. Increasing need for e-commerce logistics and outsourcing of logistics requirements to 3PL operators has led to a rise in the share of this occupier group.

 

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In terms of cluster split, out of FY23’s total warehouse leasing, nearly 43% was leased in the NH17 cluster. In this cluster, locations such as Azara, Boragaon, Dharapur and Palashbari witnessed a lot of traction from 3PL and manufacturing sector occupiers. This was followed by NH27 with 38% share.  Rampur accounted for 19% share in this period as locations such as Pamohi attracted a lot of occupiers from manufacturing and 3PL sectors.

 

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The Hills Times
The Hills Timeshttp://www.thehillstimes.in
The Hills Times, a largely circulated English daily published from Diphu and printed in Guwahati, having vast readership in hills districts of Assam, and neighbouring Nagaland, Meghalaya, Arunachal Pradesh and Manipur.
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