Kolkata witnessed a 28 per cent year-over-year (YoY) growth in warehouse leasing in 2024, leading with the highest market share of 29 per cent in ecommerce transactions among eight cities.
According to a research survey by the real estate consultancy firm Knight Frank India, Kolkata recorded 6.5 million square feet (mn sq ft) of warehousing transactions in 2024, reflecting a 28 per cent year-on-year (YoY) growth from 5.1 mn sq ft in 2023. This surge underscored the city’s rising appeal among occupiers, particularly in the third party logistics (3PL) sector, with companies like Mahindra Logistics and Safexpress expanding their footprint. In e-commerce, major players such as Amazon, Flipkart and Swiggy have leased warehousing facilities.
The survey said Kolkata led e-commerce transactions among eight cities, capturing 29 per cent of the total market share, while NCR accounts for 16 per cent, Bangalore 15 per cent, Mumbai 14 per cent, Ahmedabad 10 per cent, among others.
The report claimed that share of 3PL companies in total leasing activity surged from 22 per cent in 2023 to 42 per cent in 2024. E-commerce rose from 15 per cent to 23 per cent, driven by sustained consumer demand and the need for efficient last-mile delivery. Retail leasing remained steady at 8 per cent, while the FMCG and FMCD sectors saw slight increases in their leasing activity. Dankuni and its suburbs accounted for 59 per cent of total leased space, slightly down from 62 per cent in 2023. Meanwhile, National Highway 16 (Old NH 6) saw an increase in leasing share from 34 per cent in 2023 to 38 per cent in 2024, driven by the availability of Grade A warehousing facilities and strong connectivity. The Taratala-Maheshtala cluster maintained a steady 3 per cent share.
Shishir Baijal, chairman and managing director, Knight Frank India said: “Kolkata’s warehousing market continues to show resilience and growth, fuelled by strong occupier demand, infrastructure developments, and supportive policy initiatives.
Despite challenges like the limited availability of Grade A space, the sector remains on a steady growth path. With rising demand from logistics players, ongoing infrastructure improvements, and a favourable policy environment, Kolkata is poised to maintain its status as a key warehousing hub in eastern India.”
