NCR’s warehousing stock is projected to reach 108.6 million sq ft by the end of 2025, led by Grade A projects and institutional investor activity, according to the latest report by JLL. The Delhi-NH8 submarket will continue to dominate supply and demand in the region.
The report highlighted that large infrastructure projects such as the Delhi-Mumbai Industrial Corridor (DMIC), Western Dedicated Freight Corridor (WDFC) and Eastern Dedicated Freight Corridor (EDFC) are driving warehouse demand by strengthening connectivity between Delhi and other parts of India.
Net demand surged 80% year-on-year in H1 2025 to 4.13 million sq ft, with Grade A facilities accounting for 88% of total demand. The Delhi-NH8 belt remained the most active, supported by demand from 3PL/logistics operators, light manufacturing (auto, engineering, ancillaries), FMCG, e-commerce and retail players.
On the supply side, the market added 4.66 million sq ft in H1 2025, with strong traction from institutional developers and investors. This surge, however, pushed vacancy rates up to 21.4% as supply outpaced demand.
Despite rising vacancy, rents climbed 5.3% year-on-year in H1 2025, reflecting the preference for high-quality Grade A spaces. JLL expects rentals to increase further in the coming years, supported by escalating land prices, upcoming infrastructure projects, and continued institutional investment.