Page 2 - Warehouses In India

Cargo terminals, trucking hubs in the works to boost exports in UP

A committee under the transport commissioner has been constituted to evaluate private investment proposals for the setting up of the logistics network

Avg monthly rent of warehousing space up 4% in Delhi-NCR in 1st six months

The average monthly rent of warehousing and logistics space in and around the national capital region rose 4 per cent annually to Rs 22.5 per square feet in the first six months of this year on higher demand, according to real estate consultant Vestian. The leasing of warehousing and logistics space in Delhi-NCR increased 68 per cent to 4.7 million square feet in the January-June period this year as against 2.8 million square feet in the year-ago period. "The Indian warehousing and logistics sector is sailing through global headwinds on the back of strong and sustainable fundamentals. Several mega infrastructure projects are planned across the country to improve connectivity and reduce transit time," Vestian Chief Executive Officer Shrinivas Rao said. Across seven major cities, Vestian in a report on Wednesday said micro-markets of Delhi-NCR quoted the highest weighted average rentals of Rs 22.5 per sq ft a month compared to Rs 21.6 in the year-ago period. Bengaluru closely followe

Leasing of industrial space up 7% in Jan-Jun across tier I, II, III cities

Leasing of industrial and warehousing space rose 7 per cent during January-June to 22.4 million square feet across tier I-III cities mainly on better demand from third party logistics players and manufacturing units, according to property consultant Savills India. The absorption of industrial and warehousing space stood at 20.9 million square feet in the same period last year. Tier I cities accounted for 75 per cent of the total absorption in the first half of 2023, while tier II and III contributed the remaining 25 per cent, the consultant highlighted. Tier I includes cities like Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR, and Pune. Tier II and Tier III cities include Guwahati, Bhubaneshwar, Patna, Hosur, Coimbatore, Rajpura, Lucknow, Jaipur, Nagpur, Indore and Surat. As per the data, the leasing in Tier I cities rose 4 per cent to 17.4 million square feet during January-June from 16.8 million square feet in the year-ago period. In tier II and III cities

'World's largest grain storage' scheme for food security soon: Report

The disruptions in food supply and high inflation due to the war in Ukraine have increased food security concerns in several countries, including India

IndoSpace to invest Rs 3,000 cr in warehousing, logistics space in K'taka

Industrial and logistic parks developer IndoSpace on Friday announced that it will invest Rs 3,000 crore in Karnataka's warehousing and logistics space. The firm already has a strong footprint in the state with its Grade-A industrial parks operational in Bommasandra, Nelamangla I and upcoming facilities in Nelamangala II and Naraspura. IndoSpace said it has signed an initial pact with the Karnataka government for this proposed investment in the state. The pact is for a period of seven years and expected to generate 14,000 new jobs. This investment will help attract further investments in the state and help meet the increasing demands of industries linked with warehousing and logistics, the company said. Karnataka has a growing base in sectors like automobile, electronics, aerospace, agriculture, textiles and engineering and IndoSpace looks to help these industries with warehousing and logistics facilities, said Rajesh Jaggi, Vice Chairman for Real Estate, Everstone Group. IndoSpa

Warehousing biz grows 45% in first 9 months of 2022 amid headwinds: Experts

Net absorption could reach an all-time high of 43 million sq ft by 2022-end as businesses open up and consumer demand improves

Number of warehouse registrations on rise, outreach improving: WDRA

Warehousing Development and Regulatory Authority (WDRA) Chairman T K Manoj Kumar on Monday said there is an increase in the registration of warehouses and its outreach with banks and farmers has improved exponentially. The decision that the government procured stocks should be stored in WDRA-registered warehouses or those warehouses which have applied for WDRA registration has resulted in the increased registration, particularly from State Warehousing Corporations (SWCs), he added. Speaking at an event to commemorate the WDRA's Foundation Day, Kumar said: "There had been an increase in the number of warehouses registered with WDRA and its outreach with banks and farmers had improved exponentially." He said State Bank of India (SBI) has launched a special product for lending against e-NWRs (electronic negotiable warehousing receipts) at reduced interest rate and lower fees. Karnataka Bank too has informed that it is in the process of launching a new product on e-NWR pledge finance, a

Warehousing transaction volumes grew 62% YoY in FY22: Knight Frank

NCR and Mumbai led the market on overall volumes, while Pune and Hyderabad witnessed the highest percentage growth, at 166% and 128%, respectively

Future Supply Chains calls off sale of warehouse assets over approval delay

Company will consider other opportunities for rehabilitation of business ops

Gross leasing of warehousing space in 5 cities up 11% in Jan-Mar

Gross leasing of industrial and warehousing space rose 11 per cent across five major cities to 6.2 million square feet during January-March period

'Commerce Ministry unaware EOUs are not bonded warehouses'

Apparently, the Commerce Ministry is not yet aware of these changes, and so, the SEZ Rules, 2006, remain unchanged.

Govt looks to monetise warehousing assets worth Rs 28,900 cr under NMP

The Centre plans to monetise warehousing assets owned by state-owned firms FCI and CWC over the next four years for an estimated Rs 28,900 crore under the National Monetisation Pipeline (NMP).

Warehouse rent up 1% in NCR; Mumbai sees 8% drop in Jan-Jun 2021

Warehouse rental rose 1.1 per cent in Delhi-NCR, but fell 7.8 per cent and 4.6 per cent, respectively, in Mumbai and Bengaluru during the first six months of this year, according to Knight Frank. The outlook for the next six months is stable in these three cities. The leading global property consultancy on Friday released its Asia Pacific Warehouse Review: H1 2021. The National Capital Region (NCR) witnessed a marginal warehouse rental increase of 1.1 per cent year-on-year (YoY) in H1 2021. Mumbai and Bengaluru witnessed a decline of 7.8 per cent and 4.6 per cent, respectively, Knight Frank said in a statement. "Despite decline, Mumbai remained the most expensive prime warehouse rental market in the country, attracting USD 2.93 per square meter per month," the consultant said. Bengaluru is the second most expensive prime warehousing market in India, recording rental at USD 2.72/ Square meter per month. Rental for prime rental asset class in NCR recorded at USD 2.59/ square meter

Leasing of warehousing space slumps 23% across 8 cities in FY'21

Leasing of warehousing space fell by a maximum of 42 per cent in Ahmedabad and Pune during the last fiscal at 3 million sq ft and 2.8 million sq ft, respectively.

Covid-19 impact: E-commerce drives demand for warehousing in H1

Embassy Industrial Parks (EIP), Stellar Supply Chain Solutions, and TVS Industrial & Logistics Parks, among others, have seen a growth of anything between 30 per cent and 100 per cent in H1CY21.

Investors look to US office space, Indian warehouses amid Covid-19

Thanks to Covid disruptions, office and shopping mall rentals are no longer attractive

How India's grain policies stoked Food Corporation of India's debt binge

In the past decade, FCI's expenses have risen as the guaranteed price for common rice has climbed by 73% and for wheat by 64%

CBIC directs Customs to check safety of explosives in warehouses, ports

The Central Board of Indirect Taxes and Customs (CBIC) said this precautionary step has been taken in view of the recent incident of an explosion in a foreign country caused by such material

Covid-19: Centre asks states to notify warehouses as market yards

Move will help farmers sell goods on e-Nam without bringing their produce to the mandis; major relaxations given to FPOs and facilitating transport

Warehousing sector to add 40 mn sq ft space in 2020 across top 8 cities

In 2019, the total supply of warehousing space was 37.94 million sq ft while the absorption stood at 33 million sq ft.