After a 12 months excessive, warehouse transactions in Pune witnessed a file decline of 42 per cent within the monetary 12 months 2020-21.
In its newest report on warehouse transactions for the 12 months 2020-21, property guide Knight Frank has chosen Pune and Ahmedabad to have the least variety of such transactions within the nation.
The report, which was launched in Pune on Tuesday, stated that the district had seen 2.8 million sq ft of warehouse transactions within the final fiscal. During the final monetary 12 months (2019-20), Pune had 4.8 million sq ft of such transactions.
Barring Chennai, all main cities have registered a steep decline in such transactions. Chennai has stood out by registering a progress of 4 per cent in such transactions.
In Pune, the most important drivers for the sector had been vehicles, electronics, prescription drugs and different segments of the manufacturing trade. E-commerce, which was as soon as the primary driver behind warehousing progress, contributed solely two per cent of the transactions. Manufacturing transactions accounted for 70 per cent as in comparison with 50 per cent within the earlier 12 months. The Chakan-Talegaon cluster has emerged as the highest vacation spot for such transactions, accounting for 74 per cent of the transactions. “Due to the excessive land costs in Chakan, Talegaon has emerged as a pretty location for each warehousing in addition to industrial leasing. The Chakan-Talegaon belt has attracted many outstanding occupants like IKEA, Amazon, Stellar Value Chain Solutions, and so on. Ranjangaon warehousing cluster accounted for 19 per cent of the overall transaction quantity throughout this era,” the report learn.
Paramvir Singh Paul, Branch Director, Pune, Knight Frank India stated, “FY21 was a difficult 12 months for the warehousing sector in Pune because the prolonged lockdown throughout the first wave of the pandemic hit demand. On the optimistic facet, we’re seeing sturdy demand from industrial sectors, which account for 66 per cent of the transactions. Industrial demand in Pune, which was earlier concentrated solely from the auto phase, is now coming from numerous sectors. As Pune gives a longtime ecosystem of a mature manufacturing hub anyplace in India, we imagine town is prone to profit from the ‘China + 1’ technique being adopted by many producers globally .
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With inputs from TheIndianEXPRESS
