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 marketing consultant Knight Frank has chosen Pune together with Ahmedabad to register the bottom variety of transactions within the nation.
The report launched in Pune on Tuesday mentioned the district witnessed 2.8 million sq ft of warehouse transactions in 2020-21. Barring Chennai, all main cities recorded a pointy decline in warehousing transactions whereas Chennai registered a progress of 4 per cent. During the final monetary 12 months 2019-20, Pune witnessed a transaction of 4.8 million sq ft.
In Pune, the largest drivers for the sector had been vehicles, electronics, prescription drugs and different segments of the manufacturing business. E-commerce, which was as soon as the primary driver behind warehousing progress, contributed solely 2 per cent to transactions, whereas the manufacturing sector accounted for 70 per cent in comparison with 50 per cent final 12 months.
Chakan-Talegaon has emerged as the highest vacation spot for cluster warehousing and accounts for 74 per cent of the transactions. “Due to the excessive land costs in Chakan, Talegaon has emerged as a lovely location for each warehousing in addition to industrial leasing. The Chakan-Talegaon belt has attracted many distinguished businessmen like IKEA, Amazon, Stellar Value Chain Solutions, and so forth. Ranjangaon warehousing cluster accounted for 19% of the overall transaction quantity in the course of the interval,” the report mentioned.
Paramvir Singh Paul, Branch Director – Pune, Knight Frank India mentioned, “FY 2020-2021 was a difficult 12 months for the warehousing sector in Pune because the prolonged lockdown in the course of the first wave of the pandemic hit demand. On the optimistic aspect, we’re seeing sturdy demand from industrial sectors, which account for 66% of 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 consider that the town has the potential to learn from the ‘China + 1’ technique being adopted by many producers globally.
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With inputs from TheIndianEXPRESS
