A report by a property consultant has revealed that Chennai was the only city among top eight real estate markets in the country to see a positive leasing activity during the financial year 2021.
Knight FrankIndias report titled India Warehousing Market Report 2021 says Chennai recorded a total of 3.5 million square feet of warehousing leasing activity in FY 2021. The city recorded a 4% Year-on-Year (YoY) Growth in warehouse space absorption despite the pandemic exigencies.
Pointing out that Chennai was the only city among the top eight markets to record positive YoY growth in FY 2021, the report says that the highest leasing activity was concentrated in the Sriperumbudur-Oragadam cluster.
Automobile, textile and manufacturing for heavy industries continued to be the driver industries for citys industrial and warehousing demand, he said adding that ecommerce and retail players were recent additions to this list.