Leasing of Industrial & warehousing spaces during April-June fell 12 per cent year-on-year to 40 lakh square feet area across five major cities mainly due to lower demand in Delhi-NCR and Chennai, according to Colliers.
Real estate consultant Colliers India released its India industrial and warehousing market snapshot for the April-June quarter of this calendar year, showing the gross leasing in April-June across five cities fell 44 pc from the previous quarter.
As per the data, leasing of industrial and warehousing space in Pune region rose 15 per cent to 10 lakh (1 million) square feet during April-June period.
Mumbai also saw a 12 per cent increase in demand to 9 lakh (0.9 million) square feet in the second quarter of this calendar year.
The leasing in Bengaluru went up 17 pc to 7 lakh (0.7 million) square feet during April-June.
However, the demand remained subdued in Chennai and Delhi-NCR.
The absorption of industrial and warehousing space in Delhi-NCR fell sharply by 49 per cent to 7 lakh (0.7 million) square feet, while the demand dropped 28 per cent in Chennai to 7 lakh (0.7 million) square feet during the quarter ended June.