Adani Logistics Ltd has leased 66,250 sq ft of warehousing space to Avenue Supermarts Limited at Dharna Camp in Raigad district near Mumbai, with the total rental outgo exceeding Rs 1 billion over nearly 28 years, according to property registration documents accessed by CRE Matrix. DMart has taken the facility on lease in Panvel at an initial monthly rent of about Rs 2.02 million, along with a security deposit of Rs 12.1 million. The lease tenure is 28 years, with a lock-in period of six years. The agreement, registered on 24 December 2025, provides for a rent escalation of 12 per cent every three years. Stamp duty of around Rs 5.71 million and a registration fee of Rs 30,000 were paid for the transaction. Under the agreement, the monthly rent starts at just over Rs 2 million and rises to more than Rs 5.6 million by the final year of the lease. The warehouse, with a built-up area of 66,250 sq ft and a carpet area of about 53,000 sq ft, is located on a plot measuring roughly 55,697 sq metres. DMart will use the facility for storage and distribution of a wide range of goods, including groceries, FMCG products, fruits and vegetables, dairy items, garments, footwear, home appliances and other retail merchandise. The transaction highlights the growing importance of the Panvel–Raigad belt as a strategic logistics hub. The region continues to attract large warehousing investments due to its proximity to Mumbai, improved road connectivity, port access and the operationalisation of the Navi Mumbai International Airport, according to CRE Matrix. The deal also strengthens DMart’s backend supply chain infrastructure close to its key consumption markets. The Mumbai Metropolitan Region has seen several large warehousing transactions in recent months. DHL Supply Chain India Pvt Ltd leased around 417,000 sq ft of space in Bhiwandi for over Rs 320 million, while Zomato Hyperpure Private Limited took on lease about 553,000 sq ft in the same area at a monthly rent of roughly Rs 17 million. In May 2025, Tesla India Motor and Energy Pvt Ltd leased 24,565 sq ft at Lodha Logistics Park in Mumbai’s Kurla area for a total rent of around Rs 243.8 million over five years. India’s industrial and logistics sector continued its strong post-pandemic momentum in 2025, recording a record annual absorption of 76.5 million sq ft, an increase of 18.6 per cent year-on-year, according to data from Savills India. Manufacturing led demand with 29 per cent of total absorption, followed by third-party logistics at 28 per cent, FMCG at 11 per cent and retail at 6 per cent, while e-commerce demand rebounded sharply during the year.