India’s industrial & logistics real estate leasing at record high in 9M 2025; Delhi-NCR tops with 11.7 msf

Leasing by the industrial & logistics (I&L) real estate sector grew 28% year-on-year to hit an all-time high in the first nine months of 2025 (January-September) as companies focus on high-specification Grade A assets, according to the latest report by real estate consultancy CBRE.

The report titled, ‘India Market Monitor Q3 2025 – Industrial & Logistics’ states that the total leasing during the period, across the top 8 Indian cities – Delhi-NCR, Bengaluru, Mumbai, Hyderabad, Chennai, Pune, Kolkata, and Ahmedabad – stood at 37 mn. sq. ft., as compared to 28.8 mn. sq. ft. during 9M 2024.

During 9M 2025, Delhi-NCR accounted for the largest share of total leasing activity at 11.7 mn. sq. ft., followed by Bengaluru at 5.7 mn. sq. ft. and Hyderabad at 4.6 mn. sq. ft. The three cities accounted for a cumulative share of 59%.

Mumbai and Kolkata registered space take-up of 4.2 mn. sq. ft. and 3.8 mn. sq. ft., respectively.

Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE, said that the demand is largely led by the expansion of Third-Party Logistics (3PL) providers and the accelerated deployment of quick commerce. “Companies are increasingly focused on supply chain optimisation and resilience, driving a mandate for sophisticated, high-specification Grade A assets that support automation and reduce last-mile friction,” he added.