Delhi-NCR has witnessed a 10 per cent decline in rentals of warehousing during the first six months of this year, according to Vestian.
Real estate consultant Vestian said the rentals of warehousing spaces in the NCR region contracted significantly by 10 per cent annually to Rs 21 per square feet a month.
“This decline could be attributed to a large share of leasing, around 60 per cent, recorded at rates below the city’s average rent,” the consultant said in a statement on Friday.
The average rental values across the top seven cities remained largely stable, ranging between Rs 18-31 per square feet per month.
Pune commands the highest rental of Rs 31 per square feet per month, driven by strong demand from 3PL, automotive, engineering, and manufacturing sectors. The rentals rose 13 per cent year-on-year during the January-June period in Pune.
Mumbai region commands the lowest rentals of Rs 18 per sq ft per month amongst the top seven cities. The rentals fell 2 per cent annually in Mumbai.
Among other cities, the rentals in Hyderabad stood at Rs 19 per sq ft in H1 2025, with a marginal annual increase of 1 per cent.
Bengaluru saw an annual decline of 5 per cent in rent to Rs 19 per sq ft per month.
Monthly rentals in Chennai stood at Rs 25 per sq ft in January-June 2025, witnessing an annual rise of 2 per cent. The rents in Kolkata rose 8 per cent to Rs 21 per sq ft.
Vestian pointed out that investments in warehousing assets dropped sharply to USD 32 million in the first six months of 2025, marking a steep 98 per cent annual decline.
Shrinivas Rao, CEO of Vestian, said, “While the first half of 2025 witnessed a dip in investments, strong demand across key markets, the expansion of multimodal logistics infrastructure, and an emphasis on sustainable and tech-enabled solutions signal long-term growth.”
Strategic initiatives under the Gati Shakti plan and increasing traction in tier-2 and tier-3 cities are expected to drive the next wave of growth in the sector, he added.
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