Press Release: 24 April 2017,
The rollout of the goods and services tax and real estate investment trusts is expected to fuel the growth of warehousing stock across the country in the next few years.
As stated by Ramesh Nair, CEO, JLL India, “The warehousing, manufacturing and logistics industries will benefit the most from the implementation of GST in India and the new tax regime will also usher in an era of upgradation in the warehousing infrastructure.”
According to the real estate services firm, the total stock of Grade-A and Grade-B warehouses in the country grew about 16% in 2016 over the previous year to 111.9 million sq ft. Of this, the Grade-A stock was 32.9 million sq ft while the remaining 79 million sq ft was Grade-B. This year, JLL India expects the Grade-A and Grade-B stock to grow 18% to 132.5 million sq ft.
Embassy Industrial Parks CEO Anshul Singhal said the company plans to build about 20 million sq ft of logistics parks over the next five years at a total investment of about Rs 6,450 crore.
He further stated that, “GST will ensure that India for the first time will be exposed to consolidated large space central warehousing parks instead of the current scattered poor quality standalone spaces.”
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