Data from Savills covering the first nine months of the year showed that take-up of industrial and warehousing space across 24 leading cities climbed 7 per cent, with light manufacturing, third-party logistics operators, and e-commerce activity driving the uptick in occupier appetite. Figures from Savills India, the real estate consultancy, show that take-up of industrial and warehousing floor space reached an all-time high of 59.1 million sq ft across the first nine months of the year, up from 55.3 million sq ft over the same stretch twelve months prior. Across the eight leading cities tracked in the data, office leasing volumes recorded by Savills climbed from 44 million square feet to 47.2 million square feet of the overall total. Office leasing across tier-II and tier-III cities edged upward, with total space transacted climbing from 11.3 million sq ft to 11.9 million sq ft. Among the urban centres designated as Tier-I are Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR, and Pune. Among the urban centres classified at Tier-II and Tier-III level, the roster stretches across Guwahati, Bhubaneswar, Patna, Hosur, Coimbatore, Rajpura, Lucknow, Jaipur, Nagpur, Surat, Indore, Kochi, Hubli, Vizag, Belgaum, and Anantapur. Figures from Savills point to a 25 per cent year-on-year rise in new supply, which reached 68.9 million sq ft across the nine months running from January through September.
