The builders of warehouses have been looking to expand their footprint in tier-2 and tier-3 metropolitan areas in Tamil Nadu.
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The desire for warehousing areas in Tamil Nadu is mounting and more recent areas are rising in this room.
In Chennai, there is desire for warehousing spaces in destinations these as Orakkadu in the vicinity of Ponneri, Sholavaram, Purple Hills to Tiruvallur Street and Minjur. Aside from this, in excess of the past two many years builders have been growing their footprint to second tier cities of Madurai, Coimbatore and Salem, in accordance to information provided by Jones Lang LaSalle.
“3PL and E-Commerce have emerged as just one of the fastest expanding segments in warehousing place, contributing best amid all the other sectors,” claimed Jerry Kingsley, Head, Strategic Consulting and Valuation Advisory India & City Lead Capital Marketplaces – Chennai, Jones Lang LaSalle.
Mr. Kingsley mentioned that around the last couple of years, vital international funds have been actively partnering with regional warehouse developers and operators to grow their portfolio and footprint. “Such investments are not restricted to tier 1 cities but also tier-2 and tier-3 metropolitan areas, with these cities now emerging as significant usage and e-commerce hubs,” he explained.
Sanjay Chugh, Town Head and Senior Vice President, Chennai – ANAROCK Group, claimed: “Due to the State’s strategic location, powerful connectivity, and rapid growing infrastructure, Tamil Nadu has a amount of new regions for warehouse spaces.”
He mentioned: “One of the important emerging locations in this regard is Oragadam on the outskirts of Chennai, which has superior accessibility to significant transport hubs, like the Chennai-Bengaluru and Chennai-Tirupati highways.”
Mr. Chugh highlighted that Hosur, on the border of Tamil Nadu and Karnataka, is increasing swiftly for the reason that of its great accessibility to