ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?
  • Exclusive: June GST collections estimated at Rs 1.37-1.39 lakh cr, sources tell Zee Business ahead of announcement on 1 July
  • Eknath Shinde sworn in as 30th Chief Minister of Maharashtra, Fadnavis becomes Deputy CM
  • Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » India News

Leasing in logistics, warehousing sector hits all-time high of 24 mln sq ft in 2018: CBRE

The implementation of goods and services tax (GST) led to far-reaching implications on industries, more so in the warehousing and logistics sector, it added.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Leasing in logistics, warehousing sector hits all-time high of 24 mln sq ft in 2018: CBRE
This demand, we feel, would further be boosted by the entry of various private equity firms and foreign players in the Indian logistics market, Magazine said. Reuters

Leasing in the warehousing and logistics sector rose by 45 per cent to a record area of 24 million sq ft on rising demand from e-commerce players and other companies, after the implementation of GST, according to property consultant CBRE. Mumbai, national capital region (NCR), Bengaluru and Chennai accounted for more than 70 per cent of the leasing.

The overall space take-up in the logistics and warehousing sector crossed 24 million sq ft in 2018 - an all-time high, CBRE said in its report 'India Industrial and Logistics Market View, H2 2018'.

The leased area in the sector was 16.5 million sq ft in 2017. The implementation of goods and services tax (GST) led to far-reaching implications on industries, more so in the warehousing and logistics sector, it added.

Overall, in 2018, Mumbai, followed by NCR, Bengaluru and Chennai dominated the leasing segment, accounting for more than 70 per cent of the space take-up. We are very positive about the government's vision to increase the sector's contribution to the overall gross domestic product (GDP) through more incentives for players and streamlining regulations, Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE said.

With growing use of technology and government's push to the sector, he said companies would go for large modern warehouses to consolidate and expand their operations in the new GST regime. This demand, we feel, would further be boosted by the entry of various private equity firms and foreign players in the Indian logistics market, Magazine said.

As per the findings, the count of large sized deals (more than 100,000 sq. Ft.) almost doubled in 2018 compared to 2017. The implementation of GST coupled with quality supply from reputed developers resulted in average size of deals increasing from 75,000 sq ft in 2017 to about 90,000 sq ft in 2018.

We foresee Indian e-commerce companies, third-party logistics (3PL) players and online grocery chains to increasingly use innovative tech solutions to improve inventory management, said Jasmine Singh, Senior Executive Director Advisory and Transaction Services, India, CBRE.

Watch This Zee Business Video

Leasing activity in the second half of 2018 was mostly led by 3PL service providers with a share of about 40 per cent, followed by engineering and manufacturing (22 per cent), e-commerce (21 per cent). Sectors such as retail, FMCG, electronics also contributed to the overall leasing.

The report further stated that rentals continued to appreciate for several micro-markets across cities. 

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
CBREGoods and Service Tax
Written By: PTI
Updated: Thu, Feb 21, 2019
01:04 pm
New Delhi, PTI
RELATED NEWS
Real estate alert! Shared accommodation's future: What survey by CBRE-SAPFI found - Key details and future outlook Real estate alert! Shared accommodation's future: What survey by CBRE-SAPFI found - Key details and future outlook
Urban Indians to contribute 75% of GDP by 2030: Report Urban Indians to contribute 75% of GDP by 2030: Report
Connaught Place in Delhi in CBRE list of world’s top 10 most expensive office markets Connaught Place in Delhi in CBRE list of world’s top 10 most expensive office markets
Bengaluru becomes first Indian city to feature in top 10 destinations for cross-border investors across Asia Pacific: CBRE Bengaluru becomes first Indian city to feature in top 10 destinations for cross-border investors across Asia Pacific: CBRE
Housing sales up 13 pct in January-March on stable prices: CBRE Housing sales up 13 pct in January-March on stable prices: CBRE

LATEST NEWS

Oppo Reno 8 series India launch soon; teaser released - All you need to know

Gold Price Today: Yellow metal surges by over Rs 1000 as excise duty hiked to 12.5% - check gold rate in your city

Toyota Hyryder Unveiled: Toyota India unveils new self-charging hybrid electric SUV in India; check details

Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms

India's June factory growth at 9-month low as inflation worries bite

GST Council Meeting Outcome: Big boost for Rakesh Jhunjhunwala's stock as sewage treated water gets exemption from GST

US stocks see worst first half drop in over 50 years

HSBC to relaunch India private banking business within a year, says India CEO

Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?

KYC for Demat account, Single-use plastic ban to IPO rule change - here is a list of important changes that come into effect from 1 July

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV