Ambala - Rajpura market witnesses a 23% YoY growth in warehouse leasing in FY2020: Knight Frank Indi
Chandigarh, (Aditi) : In FY2020, the Ambala-Rajpura cluster accounted for nearly 2.19 mn sq ft (0.20 mn sq m) warehousing leasing, according to the ‘India Warehousing Market Report 2020’ report launched by Knight Frank India, a global real estate consultancy. This accounts to 23% YoY (Year-On-Year) upswing over FY 2019. Of the total leasing, third-party logistics (3PL) sector accounted for the maximum share (55%), followed by fast moving consumer durables (FMCD) and other categories.
The upcoming mixed-use development QuarkCity, along the Grand Trunk Road in Rajpura, will add to the cluster's attractiveness, with investment potential of INR 20 billion in the park across various sectors such as manufacturing, food processing, furniture and warehousing.
As Grade A warehousing infrastructure gets established, it will support the modernisation of supply chain in the Ambala-Rajpura cluster which will appeal to occupiers from e-commerce in future. Proximity to cities such as Chandigarh, Patiala, Ludhiana and Zirakpur makes this belt as attractive opportunity for e-commerce players to set footprint and cater to these multiple consumption centres.
Mudassir Zaidi, Executive Director – North, Knight Frank India said, “Due to its proximity to the tri-city (Chandigarh-Mohali-Panchkula), Rajpura makes an important prime warehousing hub in the region. The state has also proposed Global Manufacturing and Knowledge Park / Integrated Manufacturing Cluster (IMC) at Rajpura under the 'Invest Punjab' initiative in an area of 1,000 acres under the Amritsar-Kolkata Industrial Corridor (AKIC). This makes warehousing as a lucrative real estate investment asset class with attractive long-term value appreciation in the Ambala – Rajpura belt.”