DHL Renews Rs 1.8 Billion Lease For Panvel Warehouse

07 Oct 2025 CW Team

The monthly rent for the facility, located within the Ascent Free Trade and Warehousing Zone, is Rs 18 million, or approximately Rs 56.70 per sq ft per month, the documents revealed. The lease commenced on 1 August 2024 and includes a five per cent escalation from June 2025. DHL has also deposited Rs 141.1 million as a security deposit.

Situated close to the upcoming Navi Mumbai International Airport, Panvel is rapidly emerging as a major logistics hub, attracting global supply chain players due to its connectivity and infrastructure advantages.

DHL Group, which operates over 21 million sq ft of warehousing space across India and serves more than 50,000 locations, declined to comment on the transaction, as did CapitaLand Group.

Earlier this year, Mahindra Logistics Limited leased 297,000 sq ft of industrial space near Pune for Rs 7.14 million per month, also for a five-year term, according to property records.

According to Knight Frank India’s half-yearly India Warehousing Market Report, leasing volumes surged 42 per cent year-on-year to 32.1 million sq ft across the top eight cities in the first half of 2025. The manufacturing sector led this growth with a 71 per cent annual increase in space uptake, accounting for 45 per cent of total transactions.

The report also noted that Grade A warehousing continues to dominate, constituting 63 per cent of total leased space, up from 54 per cent a year earlier. Nationwide, industrial and warehousing stock exceeded 500 million sq ft, with Grade A assets representing 75 per cent of new supply. Meanwhile, vacancy rates fell from 13.1 per cent to 12.1 per cent, reflecting strong demand.

Among the leading markets, Mumbai topped transaction volumes at 7.5 million sq ft, a 63 per cent increase year-on-year, followed by Pune and Chennai, which grew 76 per cent and 135 per cent, respectively — driven largely by the manufacturing sector.

DHL Logistics Private Limited has renewed its lease for 317,000 square feet of warehousing space in Panvel, near Mumbai, with Ascendas Panvel FTWZ Private Limited — part of the CapitaLand Group — for five years, according to documents accessed by Propstack.The monthly rent for the facility, located within the Ascent Free Trade and Warehousing Zone, is Rs 18 million, or approximately Rs 56.70 per sq ft per month, the documents revealed. The lease commenced on 1 August 2024 and includes a five per cent escalation from June 2025. DHL has also deposited Rs 141.1 million as a security deposit.Situated close to the upcoming Navi Mumbai International Airport, Panvel is rapidly emerging as a major logistics hub, attracting global supply chain players due to its connectivity and infrastructure advantages.DHL Group, which operates over 21 million sq ft of warehousing space across India and serves more than 50,000 locations, declined to comment on the transaction, as did CapitaLand Group.Earlier this year, Mahindra Logistics Limited leased 297,000 sq ft of industrial space near Pune for Rs 7.14 million per month, also for a five-year term, according to property records.According to Knight Frank India’s half-yearly India Warehousing Market Report, leasing volumes surged 42 per cent year-on-year to 32.1 million sq ft across the top eight cities in the first half of 2025. The manufacturing sector led this growth with a 71 per cent annual increase in space uptake, accounting for 45 per cent of total transactions.The report also noted that Grade A warehousing continues to dominate, constituting 63 per cent of total leased space, up from 54 per cent a year earlier. Nationwide, industrial and warehousing stock exceeded 500 million sq ft, with Grade A assets representing 75 per cent of new supply. Meanwhile, vacancy rates fell from 13.1 per cent to 12.1 per cent, reflecting strong demand.Among the leading markets, Mumbai topped transaction volumes at 7.5 million sq ft, a 63 per cent increase year-on-year, followed by Pune and Chennai, which grew 76 per cent and 135 per cent, respectively — driven largely by the manufacturing sector.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..