NCR WAREHOUSING MARKET REPORT - Knight Frank

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RESEARCHNCR WAREHOUSINGMARKET REPORTNH-8 CLUSTERGHAZIABAD CLUSTER

Table of contentIntroductionpageMajor warehousingclusters in NCRTotal requirement forwarehousing spacepagepageDemand drivers ofwarehousing spacein NCRNH-8 warehousingclusterGhaziabadwarehousing cluster2346page81421pagepage

NCR WAREHOUSINGMARKET REPORT1. IntroductionWhile logistics undertakes the criticalrole of connecting production centresto consumption markets, inefficienciesin managing it could lead to a severedisruption in the entire supply chainnetwork. In India, the experiencepertaining to this sector has not been veryencouraging, leading to colossal lossesduring the transportation, distribution andstorage of goods. Thus, any effort towardsaddressing this problem will meet withmuch appreciation.The current environment is likely toaccelerate progress in the logistics sectorin India, considering the interest fromgovernment as well as private enterprises.The Government of India brought outthe National Manufacturing Policy withthe objective of increasing the share ofmanufacturing in the GDP to 25%. ‘Make inIndia’, the government’s national initiative,places great importance on building bestin-class manufacturing infrastructure. Theupcoming Goods and Services Tax Bill(GST Bill) will amalgamate several centraland state taxes into a single tax, therebymitigating double taxation and facilitating aunified national market. Further, inter-stateindustrial corridors, such as the ambitiousDelhi-Mumbai Industrial Corridor (DMIC),and freight corridors,such as the Westernand Eastern Dedicated Freight Corridors,are gaining renewed focus.The logistics sector can be broadlyclassified into three areas – transportation,distribution and storage. In India, thetransportation and distribution sectors havetraditionally been a part of many studies,with numerous reports and findingsaffiliated to them. However, it is the storageand warehousing sectors that have mainlyremained under-researched. Although thewarehousing segment constitutes only15–35% of the total logistics costs, itsimportance is significant with respect tothe role it plays in the smooth functioningof supply chain networks. With thisthought process, we embarked upon themuch-needed but uncharted territory ofwarehouse sector research in India. Ourfirst report in the series—India Logistics &Warehousing Report 2014—was a detailedhandbook introducing warehousing sectordynamics, such as demand drivers,policies and regulations, business models,and enabling infrastructure and emergingtrends, among others. It set the ball rollingwith regards to the exploration of the Indianwarehousing market through a research onthe key warehousing markets of Mumbaiand Pune.In this latest edition, we present ourwarehouse market study of the NationalCapital Region (NCR) – the gateway toNorth India and the country’s largest urbanagglomeration. The report provides anexhaustive analysis on parameters suchas the spread of warehousing clusters,demand drivers, warehouse spacerequirements (estimated warehousestock) and development feasibility.The demand drivers considered forthe NCR warehousing market are themanufacturing and consumption sectors.The manufacturing sector-led demandcomprises the requirements arising fromthe need for the storage of raw materialsand finished products from industriessuch as automobiles, cement and foodRESEARCHprocessing, among others. In terms ofconsumption-led demand, all productcategories, ranging from apparel andfootwear to home and lifestyle, have beenconsidered.On account of the export-import (EXIM)activity, warehousing demand is servicedvia Container Freight Stations (CFSs)and Inland Container Depots (ICDs).Further, agriculture warehouse demand ispredominantly catered to by governmententerprises and the unorganised market,with godown-type structures. Thus, EXIMand agriculture-led warehousing has notbeen covered in this version of the report.The renewed focus on infrastructuredevelopment and the manufacturingsector offers opportunities across thelogistics value chain. With regards to thewarehousing sector,which is the subjectmatter of this report, we are witnessing theheightened interest of international financialand development institutions, globalinstitutional investors and developers toparticipate in this accelerating opportunity.The Indian developer community, whichhas long been fixated on the traditionalreal estate asset classes, viz. residential,office, hotel and retail, have now opened itsmind and wallet to enter into the segment.The improving regulatory environment forthe Indian Real Estate Investment Trust(REIT), which also covers the warehousingsegment, has added to this inclination.E-tail is already proving to be a juggernaut,expanding the market in terms of spaceand service standards. In light of such apromising environment, we believe thatthis report will serve as an actionableknowledge piece for your pursuit in thewarehousing sector.3

2. Major warehousingclusters in NCRHistorically, warehousing activities in NCRhave been concentrated in the peripheralareas of New Delhi, such as Alipur, GTRoad, Kapashera, Bamnoli, Dhulsirasand Okhla, with godown-type structuresdominating the landscape. As land pricesbecame unfeasible for such activities, theyslowly started shifting outside the Delhiborder. In the southern region, marketssuch as Kherki Daula and Manesar onNH-8 started attracting warehousingactivities, while Kundli and Sonipat onNH-1 in the northern region developed asalternative markets. Similarly, NH-91, NH24 and NH-58 near Ghaziabad becameattractive for warehousing activities as landprices on GT Road became unviable.Over the last ten years, with residential andcommercial development mushroomingon the NH-8 stretch, warehousingactivities have gradually shifted towardslocations on the internal roads of Haryana.These locations are just off the mainnational highway but well connectedto it. Locations such as the GurgaonPautaudiroad, Jamalpur-Panchgaonroad, Bilaspur-Taururoad and Barotahave witnessed a phenomenal growth interms of warehousing space over the lastdecade. Similarly, Dharuhera on NH-8 andPalwal on NH-2 have observed massivewarehousing development in recent years.For the purpose of this report, we haveclassified the various warehousing marketsinto two major clusters: NH-8 cluster andGhaziabad cluster, based on factors suchas geographical location, proximity tothe national highway, access to the Delhicity centre and distance from the majormanufacturing hubs. Since these twoclusters collectively account for the majorityof the warehousing space demand in theNCR market, the rest of the locations havebeen classified into the ‘Others’ category.Major warehousing locations in NCRWestern DedicatedFreight CorridorEastern DedicatedFreight CorridorProposed NationalExpresswayRailway LineKMP ExpresswayUnder ConstructionKMP ExpresswayOperational4

NCR WAREHOUSINGMARKET REPORTRESEARCHClassification of warehousing locations into major clustersWarehousing clusterMajor warehousing locationsNH-8 clusterDharuhera, Gurgaon-Pautaudi road, Jamalpur-Panchgaon road, Bilaspur-Tauru road,Barota, KherkiDaula, Palwal and other such areas accessible from NH-8 and NH-2Ghaziabad clusterGhaziabad, Dadri and other such areas accessible from NH-24, NH-91 and NH-58OthersAlipur, Kundli, Sonipat, Murthal and MundkaSource: Knight Frank ResearchSnapshot of major warehousing clusters in NCRNH-8 clusterGhaziabad clusterMajor roadsNH-8 and NH-2NH-91, NH-24 and NH-58ConnectivityDharuhera, Gurgaon-Pautaudi road, Jamalpur-Panchgaon road, Bilaspur-Tauru road,Barota, KherkiDaula, Palwal and other suchareas accessible from NH-8 and NH-2Connects to various ports in eastern Indiaand the industrial belt of the Eastern Dedicated Freight Corridor (Eastern DFC)NH-8 is a six-lane national highway withflyovers and service lanes at all the majorjunctions.NH-91 is a 2x2 ill-maintained road withvehicular and pedestrian congestion, leadingto traffic snarls.NH-2 is a four-lane highway and witnessesfrequent traffic congestion.The NH-24 Hapur–Ghaziabad stretch is a2x2 good quality road with a host of educational institutes.The expressway between Manesar and Palwal, which is part of the Kundli-Manesar-Palwal (KMP) Expressway, connects NH-8 andNH-2.The NH-58 Ghaziabad–Meerut Road is a2x2 good quality road with a host of old residential developments along the highway.Demand drivers: major manufacturingsectorsAuto and auto ancillary, metals, textile andengineeringFood processing, metals, chemicals andpharmaceuticalsDemand drivers: consumption/retailsectorDelhi, Gurgaon and FaridabadDelhi, Ghaziabad, Noida, Greater Noida andFaridabadWarehousing space requirement frommanufacturing sector94 mn sq ft57 mn sq ftWarehousing space requirement fromconsumption/retail sector30 mnsqft34 mnsqftInfrastructure5

Select warehouse operatorsAshiana Logistics, IndoSpace, Acorn Warehouses & Logistics Parks, Adani Group,Value LogisticsSatvik Logistics, Good Luck Warehouse, Future Warehouse Solutions, Lord Balaji Warehousing, Om Kiran Warehouse ComplexRental value range ( /sq ft/month)12 - 2114 - 20Land cost range( mn/acre)25 -4020 - 40Proximity to the most industrialised region inNCR. More than 43% of NCR’s manufacturing activity is located within a two-hour drivefrom this cluster.Proximity to the manufacturing hubs ofGhaziabad, Faridabad and Sonipat. 42%of NCR’s manufacturing activity is locatedwithin a two-hour drive from this cluster.Easily accessible to the two most importantretail markets in NCR- Gurgaon and Delhi.Gurgaon and Delhi together account formore than 86% of the total retail spending inNCR.Proximity to the densely populated consumption hubs of Ghaziabad, Delhi, Noidaand Greater Noida. These hubs togetheraccount for 95% of the total retail spendingin NCR.Competitive advantagesFrequent traffic congestion due to poor infrastructure and densely populated urban areasChallengesRapid urbanisation, leading to unviable landrates for warehousing activity.Takes significant time to convert land usefrom agriculture to industrial/warehousingRapid urbanisation leading to unviable landrates for warehousing activity.Quality of internal roads starkly inferiorcompared to the national highways. Thisrestricts the opening up of new land parcelsfor warehousing activities.3. Total requirementfor warehousingspaceCurrently, NCR’s total requirement forwarehousing space is estimated to be 223mn sq ft, of which more than 80%, or 187mn sq ft, is from the manufacturing sector.However, the majority of the warehousingrequirement of the manufacturing sectoris fulfilled by captive space, either in termsof space at the manufacturer’s plant orcompany-owned warehouses. Althoughthe trend of leasing a warehouse ratherthan owning it is steadily picking up withthe emergence of third-party logisticsplayers (3PL), it is still at a nascentstage compared to developed marketssuch as Europe and the US. These 3PLplayers,such as Safexpress, Blue Dart, TCI6and Future Supply Chain, among others,provide end-to-end logistics services,including a common warehousing facility,to multiple manufacturers, thereby reducingthe need to have a separate warehouse.such a leasable market in NCR is currentlyestimated to be in the range of 100-120mn sq ft. However, the share of annualtransacted volume is approximately 7 mnsq ft.In contrast to the manufacturing-ledWith the Goods and Service Tax (GST)set to become operational, the need forcaptive warehouses will reduce further.We believe that a large number ofmanufacturers will outsource their logisticsand warehousing requirements andfocus on their core operations. This willcreate an additional demand for leasablewarehousing space in NCR in the comingyears.renewed traction, especially in the E-tailrequirement for warehousing space,consumption-led requirement is mostly forleasable space, with very few operatorsfulfilling their needs through a captivewarehouse. This is primarily due to theneed to have a fulfilment centre as closeto the urban area as possible in orderto ensure quick delivery. Over the lastten years, this segment has witnessed asector. As the time between placing anorder and delivery has shrunk drasticallywith the advent of the E-tail sector, theneed for warehousing space has alsoincreased significantly. With the shareof E-tail expected to rise steadily in thecoming years, we estimate the demand forwarehouses from this segment to increaseproportionately as well.

NCR WAREHOUSINGMARKET REPORTRESEARCHTotal requirement for warehousing space in NCRNote l: The warehousing space requirement mentioned in the chart above is the total space requirement (estimated warehouse stock) as of April 2016. The majority of thewarehousing requirement of the manufacturing sector is fulfilled by captive space, either in terms of space at the manufacturer’s plant or company-owned warehouses.Note ll: The food and beverages category includes all the dining, quick service restaurants (QSR) and takeaways. The daily needs category includes all the FMCGproducts, grocery and other such daily retail products that are consumed on a regular basis.Source: Knight Frank Research7

4. Demand drivers ofwarehousing spacein NCRThe primary demand drivers ofwarehousing space in NCR can bebroadly classified into two categories:manufacturing-led demand andconsumption-led demand. The demandfrom the manufacturing sector arisespredominantly due to the distance betweenthe manufacturer’s factories, raw materialsuppliers and the consumption marketsof the final goods. The need to storethe raw materials or final goods due tothis distance, determines the amount ofspace required by each manufacturer.The quantum of space required is alsodependent on the type of product that is4.1 Manufacturing-leddemandNCR is one of the largest manufacturinghubs in the country and accounts forthe majority of the production activityin north India. Food processing, whichincludes dairies, rice mills, sugar mills,confectionaries, and alcoholic and nonalcoholic beverages, among others, hasthe largest share in the output in NCR. Thismanufactured. Hence, each manufacturerwill have a different requirement for space,depending on these factors.Consumption-led demand, which isan equally important demand driver forwarehousing space, is largely dependenton population, income level and thepropensity to spend. The changingdynamics of the retail industry hasresulted in the business model of a retailerbecoming heavily dependent on a smoothand efficient supply chain network. Inaddition to this, the advent of E-tail inrecent years has necessitated the need forhuge warehouses close to urban centresin order to deliver in the shortest possibletime. Such factors have brought thewarehousing industry to the forefront of theretail business and compelled retailers tofocus on this segment.is followed by the auto and auto ancillaryand metals industries. However, in terms ofthe requirements for warehousing space,the cement sector leads with more than42 mn sq ft. As discussed earlier, thequantum and type of warehousing spacerequired for each manufactured product isdifferent. Additionally, each industry followsa different inventory cycle, which influencesthe amount of space required to a greatextent. Hence, despite the cement sectorcontributing just 4% of NCR’s total output,In the following sections, we have identifiedthe key manufacturing industries in NCR,their current warehousing requirement,the major manufacturing hubs and thevarious regions within NCR from wherethe requirements originate. Similarly, interms of consumption, we have identifiedthe major product categories, their currentwarehousing requirements and importantconsumption clusters in the region.its warehousing space requirement is thehighest. The cement sector accounts for23% of the total warehousing requirementfrom the manufacturing-led demand.The other big demand drivers forwarehousing space in NCR are the foodprocessing, auto and auto ancillary,chemicals and pharmaceutical sectors.Just the top four sectors account for morethan 70% of the total warehousing spacerequirement of the region.Share in output of the various manufacturing industries in NCRFood processingChemicals & pharmaAuto & auto ancillaryCementMetalsConsumer electronicsTextileOthersEngineeringSource: Annual Survey of Industries (ASI) and Knight Frank Research8

NCR WAREHOUSINGMARKET REPORTAuto & auto ancillaryMetalsTextile925428Consumer electronics15Cement21Chemicals & pharma33Engineering34Food processingWarehousing space requirements of major manufacturingindustries in NCR50mn sq ft40302010Note: The warehousing space requirement mentioned in the chart above is the total space requirement(estimated warehouse stock) as of April 2016. This is calculated on the basis of the latest output data from ASI.The majority of the warehousing requirement of the manufacturing sector is fulfilled by captive space, either interms of space at the manufacturer’s plant or company-owned warehouses.Source: Knight Frank ResearchManufacturing activities are concentratedlargely in the southern and north-easternparts of NCR. Currently, the NH-8 andNH-2 clusters in the southern region andthe NH-24, NH-91 and NH-58 clusters inthe north-eastern region together accountfor 85% of the total manufacturing activitywithin NCR. This is one of the primaryreasons for which most of the existingwarehouses operate from one of theseclusters. While Delhi, NH-1 and NH-10also have various manufacturing units, theirshare in NCR’s total production output isconsiderably lower than the other regions.The factors clearly indicate thatthe demand for manufacturing-ledwarehousing space in NCR will beconcentrated primarily in the NH-8 andGhaziabad clusters, with sectors such asauto and auto ancillary, cement, chemicalsand pharmaceuticals and food processingleading in terms of this demand.ManufacturingClusterIndustrial areasDelhiIndustrial areas within Delhi, such as Narela, Okhla, Bawanaand RohtakEoad, among othersNH-8 & NH-2Industrial areas accessible from NH-8 and NH-2, such asManesar, Bhiwadi, Neemrana, Faridabad and Palwal, amongothersNH-1 & NH-10Industrial areas accessible from NH-1 and NH-10, such asSonipat, Panipat, Bahadurgarh and Rohtak, among othersNH-24, NH-91& NH-58Industrial areas accessible from NH-24,NH-91 and NH-58, such as Ghaziabad, Dadri and Meerut,among othersRESEARCHCurrently, NCR’stotal requirement forwarehousing spaceis estimated to be223 mn sq ft, ofwhich more than80%, or 187 mnsq ft,is from themanufacturingsector. However,the majority ofthe warehousingrequirement ofthe manufacturingsector is fulfilledby captive space,either in termsof space at themanufacturer’splant or companyowned warehouses.Such leasablemarket in NCR iscurrently estimatedto be in the rangeof 100-120 mn sqft. However, theshare of annualtransacted volumeis approximately7mn sq ft.9

Manufacturing clusters within NCRWestern DedicatedFreight CorridorEastern DedicatedFreight CorridorProposed NationalExpresswayRailway LineKMP ExpresswayUnder ConstructionKMP ExpresswayOperationalMAJOR MANUFACTURING CLUSTERS IN NCRManufacturing activities are concentrated largely in the southern and north-eastern parts of NCR. Currently, the NH-8 andNH-2 cluster in the southern region and the NH-24, NH-91 and NH-58 cluster in the north-eastern region together accountfor 85% of the total manufacturing activity within NCR. This is one of the primary reasons for which most of the existingwarehouses operate from one of these clusters. While Delhi, NH-1 and NH-10 also have various manufacturing units, theirshare in NCR’s total production output is considerably lower than the other regions.These factors clearly indicate that the demand for manufacturing-led warehousing space in NCR will be concentratedprimarily in the NH-8 and Ghaziabad clusters, with sectors such as auto and auto ancillary, cement, chemicals andpharmaceuticals and food processing leading in terms of this demand.10

NCR WAREHOUSINGMARKET REPORTShare in output of each manufacturing cluster within NCRDelhiNH-8 & NH-2NH-1 & NH-10NH-24, NH-91& NH-58Source: Annual Survey of Industries (ASI) and Knight Frank Research4.2 Consumption-led demandIn terms of retail spending, NCR is thelargest market in India with Delhi, Gurgaonand Noida contributing the most. Thisretail spending not only includes traditionalbrick-and-mortar stores, malls, shoppingstreets and mom-and-pop stores but alsoaccounts for the spending by consumersthrough the e-commerce medium. Hence,any type of consumer goods consumedwithin NCR, whether offline or online, iscategorised in the retail spending.Among the various product categories,apparel, sportswear and footwear togetherhave the highest share, at 43%, in thetotal retail spending in NCR. Thus, even inthe warehousing space requirement, thiscategory contributes the most, at 14 mnsq ft or 38%. Other prominent productcategories include food and beverages,department stores and daily needs. Thedaily needs category includes all the FMCGproducts, grocery and other such dailyretail products that are consumed on aregular basis. Just the top four categoriesaccount for more than 80% of the totalwarehousing space requirement in NCR.The E-tail sector has emerged as a majordriver for the incremental warehousingspace requirement in recent years andcurrently accounts for 14% of the totalspace requirement of the consumption-leddemand. While brick-and-mortar storesstill lead in terms of space requirement, at31 mn sq ft, the E-tail segment contributesupto 5 mn sq ft. This is significant,considering that until just a few yearsago,this entire segment was non-existent.While the boom in the E-tail sector mayhave eaten into the market share ofthe brick-and-mortar stores to a greatextent, our analysis indicates that theadvent of this segment has expandedthe overall consumption pie and ledto a substantial increase in the urbanconsumers’ propensity to spend. Hence,the warehousing space requirement by theE-tail segment is largely the incrementaldemand for space and not just areplacement of the demand for space bybrick-and-mortar stores.RESEARCHThe E-tail sectorhas emerged asa major driver forthe incrementalwarehousing spacerequirement inrecent years andcurrently accountsfor 14% of the totalspace requirementof the consumptionled demand. Whilebrick-and-mortarstores still lead interms of spacerequirement, at31 mn sq ft, theE-tail segmentcontributes upto5 mn sq ft.However, weestimate spacerequirement fromthe E-tail segmentto increase by 60%,to more than8 mn sq ft by 2020.Going forward, we believe that the shareof the E-tail sector will increase further inthe total retail spending of consumers. Thiswill invariably lead to a higher demand forwarehousing space from this segment inthe coming years. As per our estimates,the warehousing space requirement fromthe E-tail segment will increase by 60%,from the current 5 mn sq ft to more than 8mn sq ft by 2020.11

Category-wise split of retail spending in NCRApparels, sportswear & footwearFood & beveragesDepartmental storeDaily needsHome & lifestyleElectronicsWatches, jewellery & accessoriesOthersSource: Knight Frank Research43Food & beveragesDaily needsHome & lifestyle224Others5Watches, jewellery& accessories15Apparels, sporstwear& footwearWarehousing space requirements for the major retail categories in NCRmn sq ft16128Electronics4Note: The warehousing space requirement mentioned in the chart above is the total space requirement (estimated warehouse stock) as of April 2016. The food andbeverages category includes all the dining, quick service restaurants (QSR) and takeaways. The daily needs category includes all the FMCG products, grocery and othersuch daily retail products that are consumed on a regular basis.Source: Knight Frank Research12

NCR WAREHOUSINGMARKET REPORTRESEARCHWarehousing space requirements by E-tail and brick-and-mortarstoresBrick-and-mortar storesSource: Knight Frank ResearchE-tailThe NCR market can be further classifiedinto five sub-markets — Delhi, Gurgaon,Faridabad, Noida and Greater Noida, andGhaziabad — for the purpose of gaugingthe consumption-led demand. Delhi, thelargest sub-market among these, accountsfor 75% of NCR’s population. However,it contributes to more than 80% of thetotal retail spending in the region. Thisis primarily due to the higher level of percapita income and the greater propensityto spend among Delhi’s residents.have to be located in areas that have easyThe above analysis indicates that themajority of the warehouses in NCR willsuch warehouses, which are driven byCluster-wise population split in NCRaccess to Delhi, with minimal time to deliverproducts. This opens up the potentialfor all the major entry points into Delhi tobe developed as warehousing hubs, beit NH-8 and NH-2 in the south, NH-1 inthe north, NH-10 in the west and NH-24,NH-91 and NH-58 in the east. Currently, allthese clusters have warehousing activitiesin some or the other form. However,NH-8 has the highest concentration ofconsumption-led demand.Share of each consumptioncluster in retail spending inNCRDelhiOthers includingGurgaon, Noida, GreaterNoida, Ghaziabad andFaridabadSource: Knight Frank ResearchSource: Census 201113

5. NH-8 warehousingclusterNational Highway 8 (NH-8) and NationalHighway2 (NH-2) are the two mostimportant roads that connect NCR to thewestern and central regions of India. Apartfrom providing direct access from NCR toJawaharlal Nehru Port Trust (JNPT), oneof the busiest ports in the country, NH-8 isalso connected to other important ports inGujarat. Additionally, most of the industrialareas in Haryana and Rajasthan areNH-8 warehousing clusterWestern DedicatedFreight CorridorProposed NationalExpresswayRailway LineKMP ExpresswayUnder ConstructionKMP ExpresswayOperational14concentrated along these highways. Thesefactors have resulted in NH-8 becomingone of the busiest national highways in thecountry over the last few decades.Factors such as easy connectivity to NCR,access to the major industrial areas ofHaryana and Rajasthan and direct portconnectivity have led to a huge demandfor warehousing space along these roads.Apart from the massive development ofwarehouses on either side of the nationalhighway, locations such as GurgaonPautaudiroad, Jamalpur-Panchgaonroad,Bilaspur-Taururoadand Barotahavewitnessed an unprecedented constructionof warehouses in recent years. Since thedemand drivers for all the warehouselocations along NH-8 and NH-2 are similar,we have clubbed these locations into asingle warehousing cluster for the purposeof this report and called it as the ‘NH-8warehousing cluster’. In the followingsections, we have explained the primarydemand drivers of the warehousing spacein this cluster, market characteristics,infrastructure development, prevailingrentals and land rates, challenges and thefuture outlook.

NCR WAREHOUSINGMARKET REPORTRESEARCH5.1 Demand drivers ofwarehousing space in theNH-8 clusterOf the two categories, the manufacturing-Scooter and Hero MotoCorp having theirled demand accounts for the lion’splants located within this cluster. AmongThe demand drivers of warehousing spaceWithin the manufacturing segment, thein this cluster can be broadly classifiedauto and auto ancillary sector leads ininto two sub-segments: manufacturing-ledterms of output, with auto majors suchfollowed by food processing, chemicalsdemand and consumption-led demand.as Maruti Suzuki, Honda Motorcycle &and pharmaceuticals, and cement.share due the massive concentrationof industrial activity along these routes.the other manufacturing industries, themetals, textile and engineering sectorsconstitute a major portion of the output,Share in output of various manufacturing industries in the NH-8 clusterAuto & auto ancillaryMetalsTextileEngineeringFood processingChemicals & pharmaCementOthersSource: Knight Frank Research117561030Cement25Chemicals& pharmaWarehousing space requirement of major manufacturing industries in the NH-8 clustermn sq ft403020FoodprocessingEngineeringTextileMetalsAuto & autoancillary10Note: The warehousing space requirement mentioned in the chart above is the total space requirement (estimated warehouse stock) as of April 2016. This is calculatedon the basis of the latest output data from ASI. The majority of the warehousing requirement of the manufacturing sector is fulfilled by captive space, either in terms ofspace at the manufacturer’s plant or company-owned warehouses.Source: Knight Frank Research15

The demand for warehousing space istype structures with 24-foot clear heightNH-8 seldom witnesses traffic congestionsclosely linked to the type of manufacturingand basic infrastructure such as powerdue to the provision of flyovers and serviceindustries that are serviced through them.backup, ample parking space, fire-fightinglanes at all the major junctions. AlthoughHence, despite the auto and auto ancillaryequipment and insulation, among others.the majority of the warehouses are locatedsector accounting for the largest shareSome of the prominent occupiers areon the internal roads of NH-8, the travelin terms of output within this cluster, itLifestyle Home Centre, Arvind Brands,time from these roads to the highwayis the cement industry that requires theAmazon, TCI, Gati KWE and Fedex.is less than 15 minutes due to theirmaximum warehousing space. Currently,However, most of the warehouses inexcellent quality. This ensures seamlessthe estimated requirement of warehousingKherki Daula and certain parts of NH-8 areroad connectivity between the variousspace in this cluster by the cement sectorold godown-type structures with minimalwarehousing markets located in this clusteris 30 mn sq ft, followed by the auto andamenities and poor infrastructure.and the industrial areas situated along thisauto ancillary sector, at 25 mn sq ft. Thetotal warehousing space requirement fromthe manufacturing sector is in excess of 94mn sq ft.Currently, most of the incremental demandcome

Warehousing Report 2014—was a detailed handbook introducing warehousing sector dynamics, such as demand drivers, policies and regulations, business models, and enabling infrastructure and emerging trends, among others. It set the ball rolling with regards to the exploration of the Indian

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