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Business EconomyPosted at: Jul 2 2020 12:50PM


Kolkata Warehousing market records healthy leasing of 3.93 mnsq ft in FY 2020

Kolkata, Jul 2 (UNI) Fiscal year of 2020, Kolkata saw a healthy warehouse leasing
of 3.93 mnsq ft, according to the ‘India Warehousing Market Report 2020’.
The report, launched by Knight Frank India, a global real estate consultancy, said
the GST has led to a transformative shift to efficiency-based location and size
strategy rather than the erstwhile tax-saving focused objective.
The warehousing market demand in Kolkata has seen a robust compounded
annual growth rate (CAGR) of 43 per cent for the period FY2017-2020.
The rentals in Grade A properties for FY2020 have marginally moved up in the
range of Rs 17-26 sq ft/ a month from Rs 16-25 sq ft/ month in FY2019 while land
rates have largely remained stable since the lockdown was announced in the third
week of March 2020.
According to the report, the shift in demand patterns and enquiries for in-city
warehouses may put land prices in peripheral warehouse clusters under pressure
in mid to near term.
Kolkata has a development potential multiple of 1.29, which implies that 29 pc
more warehousing space can be added to the city.
The current stock is reported to be 21 mnsq ft with a potential of expansion to
28 mnsq ft on the total warehousing land of 1,098 acres in the city.
UNI PC SJC BM
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Tags: #Kolkata Warehousing market records healthy leasing of 3.93 mnsq ft in FY 2020
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