In anticipation of the national Goods and Services Tax roll-out in July, warehousing facilities will increase by 18 percent to 132.5 million sq ft, and this sector is likely to see investments of about $700 million, according to industry experts
Delhi-NCR had the maximum warehousing stock in 2016 at 29.3 million sq ft, followed by the Mumbai Metropolitan Region, Bangalore, Pune, Chennai Kolkata, Hyderabad, and Ahmedabad.
Ramesh Nair, CEO, JLL India, told BusinessLine that in 2016, the Grade A and B warehousing stock touched 111.9 million sq ft from 96.8 million sq ft in 2015, and that the GST roll out will “up-grade warehousing infrastructure.”
According to Nair, Pune and Chennai lead the way in Grade A and B warehouse rentals due to their proximity to manufacturing hubs, and local market dynamics.
