Demand For 9.1 Million Square Feet Of Real Estate In India : Report
Real Estate In India : In the upcoming quarters, it is anticipated that digital transformation would become more widely accepted and drive increased absorption as a cost-saving and revenue-boosting approach.
According to JLL’s Data Centre Update: H2 2022 research, the use of digital technologies will increase, IT infrastructure will move to third-party providers, and data demand from both new and old channels will increase, adding 678 MW to the market between 2023 and 2025. According to the research, this increase would result in a need for 9.1 million square feet of real estate, necessitating an expenditure of USD 4.8 billion in both the data centre sector’s real estate and infrastructure.
The sector added 71.8 MW in the second half of 2022. Bringing the total supply to 171 MW for the year. A significant 31% increase over 2021.Mumbai has the largest portion of the absorption pie (43%). While Delhi NCR has seen a sizable delivery of hyperscale precommitments.
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Demand For 9.1 Million Square Feet
Because pre-commitments made up a sizable amount of the demand. There was a 36% YoY rise in supply growth in the market and an addition of 85.1 MW that was planned and accomplished. Faster delivery times have been prioritised by data centre operators in order to attract more hyperscale pre-commitments, which has led to a steady increase in supply. 74% of the total supply added during H2 2022 was made up of supply from Mumbai and Delhi NCR.
“Hyperscalers public cloud services have been scaling up their requirements significantly and is expected to grow further.” Said Rachit Mohan. Head of Data Centre Advisory, India, for JLL. The growing use of digital technology across industries and the outsourcing of IT infrastructure to outside parties both contribute to this need. By 2025, the 350 MW absorption is anticipated to be delivered.
“India’s data centre industry has been on a remarkable growth trajectory, doubling to 722 MW in 2022 from 350 MW in 2019, registering a robust CAGR of 27%,” said Samantak Das, chief economist and head of Research & REIS, India, at JLL. With a total occupancy of 660 MW in 2022—a 32% increase over the year before—the industry had an all-time high absorption of 160 MW. Data centre operators added 171 MW of supply within the same time period. Mostly from hyperscalers, to satisfy the rising demand.
Real Estate In India
A robust pre-commitment pipeline is anticipated to result in a supply addition of 678 MW over the following three years. Bringing the sector’s capacity to 1400 MW by the end of 2025, according to the research. Which stated that India’s data centre industry is poised to enjoy continuous expansion.
Real Estate In India : The largest capacity growth is anticipated in Mumbai (including Navi-Mumbai). Requiring 4.7 million square feet of space. Followed by Chennai at 2.3 million square feet and Delhi-NCR at 1.0 million square feet. By 2025, it will cost USD 4.8 billion to invest in the real estate and data centre infrastructure necessary to build up data centres. Data centre operators anticipate forming alliances or reaching out to international investors to raise money for supply expansions.
To attract hyperscale demand, the majority of companies have embraced a land banking strategy. However self-build captive facility built by hyperscalers is also gaining popularity. Several states and the federal government are drafting personal data protection regulations in favour of this business. Which will help it develop even more. These reasons would likely lead to an increase in demand for 9.1 million square feet in the sector by 2025. Providing investors and other stakeholders with a sizable opportunity.
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