Warehousing demand surges 15% as Mumbai leads a resilient March quarter leasing sprint

Mumbai transactions jumped 66% despite global disruptions

India’s industrial and warehousing market stayed resilient in the March quarter as manufacturing and third-party logistics drove occupier activity across major cities. Leasing transactions rose 15% year-on-year to 19.3 million sq ft, with Mumbai posting the strongest momentum through a 66% jump in transactions. Rental values also moved up across key markets.