Pune: IT companies face temporary closures, self-storage sector gathering ground as businesses

Pune: Amidst the COVID-19 pandemic, demand for external self-storage facilities – warehousing spaces where household and office furniture and equipment, as well as automobiles, can be stored safely for both short and extended periods at reasonable rentals is rising in IT-driven cities like Pune and Bengaluru as businesses and IT companies face temporary closures.

The self-storage sector in India is still at a fledgling stage with only a handful of organised players - with limited space capacities - in the top cities. Many of the firms providing storage facilities are already running out of space. Prominent Indian cities with rental storage facilities include Bengaluru, Mumbai, Pune, Hyderabad, Noida and Gurugram. The players operating in these cities cater to a wide range of storage requirements at reasonable rentals, depending on factors like size, location and storage duration.

Pratyush Pandey, President of Warehousing, Industrial & Logistics, ANAROCK Property Consultants said, “In India, investments into this sector are yet to pick up appreciably, but considering rising demand and the fact that many vacant spaces can be reconfigured for self-storage, investments are likely to pick up going forward. Urban Indian is gradually adopting this essentially western concept in the COVID-19 world. Existing players are using this opportunity to expand their network.”

Also read: Pune: Hinjawadi IT hub’s 2,800-acre campus to wear a deserted look; work from home norms extended till December

COST OF SELF-STORAGE

• Some existing players provide the option of storing 1BHK household goods (up to 20 items) at a cost of about Rs 3,000 per month. For 2BHKs with a maximum capacity of 30-37 items, the monthly rentals are between Rs 4,000 to Rs 4,500.
• Items that can be stored include TV, refrigerator, gas stove, diwan bed, centre table, mixer/grinder, mattress, dressing table, water purifier, washing machine, double cot, plastic chairs, carton boxes for clothes, kitchen utensils and more.
• Other personal items that can be stored include cars and bikes whose monthly rentals depend on the vehicle type – from Rs 500 per month for a bike to nearly Rs 4,000 per month for an SUV. Box storage facilities come with monthly rentals between Rs 50 to Rs 250 per box, depending on the size of the boxes - small, medium or large.