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Business EconomyPosted at: Mar 13 2025 12:29PM


Kolkata witness 28 pc YoY growth in warehouse leasing in 2024: Knight Frank India

Kolkata, Mar 13 (UNI) Kolkata recorded 6.5 million square feet (mn sq
ft) of warehousing transactions in 2024, reflecting a 28 percent
year-on-year (YoY) growth from 5.1 mn sq ft in 2023, a Knight Frank
India study published report said.
This surge underscores Kolkata’s rising appeal among occupiers,
particularly in the 3PL sector, with companies like Mahindra Logistics
and Safexpress expanding their footprint, and in e-commerce, where
major players such as Amazon, Flipkart, and Swiggy have leased
warehousing facilities.
Kolkata leads e-commerce transactions among eight cities, capturing 29
pc of the total market share, while NCR accounts for 16 pc, the
research report said.
Kolkata's warehousing market has witnessed a notable shift in industry
dynamics over the past year. The share of 3PL companies in total
leasing activity surged from 22 pc in 2023 to 42 pc in 2024,
highlighting the sector's strong growth. E-commerce also expanded its
presence, rising from 15 pc to 23 pc, driven by sustained consumer
demand and the need for efficient last-mile delivery. In contrast, the
share of other manufacturing declined from 37 pc in 2023 to 13 pc in
2024, indicating changing occupier preferences. Retail leasing
remained steady at 8 pc, while the FMCG and FMCD sectors saw slight
increases in their leasing activity.
Warehousing transactions data includes light manufacturing/assembling
like automobile, electronics, pharmaceutical, etc.) except FMCG and
FMCD.
With respect to cluster split transactions, warehousing leasing
activity in Kolkata saw notable shifts in 2024. Dankuni (Hooghly
district) and its suburbs continued to dominate, accounting for 59 pc
of total leased space, slightly down from 62 pc in 2023.
Meanwhile, National Highway 16 (Old NH 6) experienced an increase in
leasing share from 34 pc in 2023 to 38 pc in 2024, driven by the
availability of Grade A warehousing facilities and strong
connectivity. The Taratala-Maheshtala cluster maintained a steady 3 pc
share, while Andul Road ( Howrah)recorded no leasing activity in
either year.
“Kolkata's warehousing market continues to show resilience and
growth, fuelled by strong occupier demand, infrastructure
developments, and supportive policy initiatives. Despite challenges
like the limited availability of Grade A space, the sector remains on
a steady growth path. With rising demand from logistics players,
ongoing infrastructure improvements, and a favourable policy
environment, Kolkata is poised to maintain its status as a key
warehousing hub in eastern India.” chairman & MD of Knight Frank
India's Shishir Baijal said on Thursday.
In 2024, the warehousing market of Kolkata recorded the second-highest
rental value at Rs 24.8/sq/ft/ month, reflecting a year-on-year growth
of 4 pc. It trailed only Pune, which led with a rental value of Rs
26.6/sq/ft/ month.
UNI PC KK
Tags: #Kolkata witness 28 pc YoY growth in warehouse leasing in 2024: Knight Frank India
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