Coronavirus outbreak pushes up industrial rents in Delhi by 2.5%

Given that the Indian market is largely unorganised, the scope for growth in large, investment-grade warehousing developments remains huge, says a report by Cushman & Wakefield.

Moneycontrol News

May 25, 2021 / 12:20 IST

Industrial rents have been rising steadily in key Indian markets over the last year, with Delhi seeing the biggest jump of 2.5 percent, in the wake of coronavirus pandemic, a report by global commercial real estate firm Cushman & Wakefield has said.

Delhi may have reported the biggest rise in annual rent at $3.27 (around Rs 238) sq ft but it is Chennai that has the highest rent in the country at $3.41 (Rs 248) sq ft. The southern city ranks sixth on the least expensive markets list of the 2021 Global Logistics Outlook report by Cushman & Wakefield. Delhi is at number five.

London is the most expensive market with rents at $24.90 sq ft per annum and Hong Kong ranks second with $19.93, says the report that analyses key drivers affecting growth, global leasing dynamics and provides an outlook for the sector.

The Indian warehousing and logistics sector has been on a higher growth path over the last four years. COVID-19 and the subsequent supply chain disruptions coupled with continued growth in e-commerce have put the sector firmly at the centre stage.

Hyderabad ($2.45 sq ft a year) and Ahmedabad ($2.61 sq ft) occupy the top two slots on the least expensive markets’ list which has six Indian cities on it.

COVID-19 Vaccine

Frequently Asked Questions

How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

Show