Delhi NCR warehousing leasing jumps 66% as quick commerce and FMCG expand
Delhi NCR warehouse leasing reached 8 million sq ft in H1 2026, led by Gurgaon and Farukhnagar. 3PL demand doubled, FMCG leasing rose 101%, and tightening supply pushed warehouse rents up 10–15%.
What happened
Cushman & Wakefield · Delhi NCR warehousing leasing surged 66% in H1 2026 as quick-commerce, e-commerce and FMCG firms expanded fulfilment capacity. Tight
Key facts
- Delhi NCR warehouse leasing reached 8 million sq ft in H1 2026, up 66% year-on-year
- Gurgaon accounted for 38% of warehouse leasing; Farukhnagar 24%; Ghaziabad 18%
- 3PL firms accounted for 44% of leasing; their leasing doubled year-on-year
- FMCG leasing rose 101% year-on-year
- Deals of 100,000 sq ft or more represented 82% of leasing
- Industrial shed leasing reached 0.7 million sq ft, more than double year-on-year
- Warehouse and industrial rents rose 10-15%; Palwal warehouse rents rose 20%
- Land prices rose 20-30%; Faridabad land prices rose 67% to Rs 20 crore per acre
- Kuehne + Nagel leased 300,000 sq ft; Nestlé 215,000 sq ft; VIP Industries 150,000 sq ft
- About 4 million sq ft of new warehouse supply is expected over the next year
Why this matters
Scarcer NCR warehouse supply strengthens the case for partnerships, long-term leases, and selective logistics asset acquisitions to secure strategic capacity.
What to watch
- H2 2026 NCR Grade A warehouse completions, vacancy rates and pre-commitment levels.
- Quick-commerce dark-store additions, closures and order-density disclosures in Delhi NCR.
- 3PL contract-rate increases and customer concentration among major logistics operators.
- Land-price movements and approval timelines in Gurgaon, Farukhnagar and emerging peripheral nodes.
- FMCG inventory growth, cold-chain leasing activity and festive-season replenishment volumes.
- Evidence of rent increases being passed into delivery fees, platform commissions or supplier charges.
- Quick-commerce platforms secure longer warehouse leases and pre-lease expansion capacity near high-order-density clusters.
- 3PLs raise rates, add value-added fulfillment services and invest in automation to protect margins against rising occupancy costs.
- FMCG firms move more fast-moving inventory into regional fulfillment nodes, increasing demand for temperature-controlled and high-throughput space.
- Developers prioritize Grade A, built-to-suit and infill logistics projects over generic warehousing, with rents reset upward at renewal.
- Retailers may introduce tighter free-delivery thresholds, minimum basket sizes or localized assortment to offset higher last-mile and storage costs.