Mahindra Logistics leases 4.75 Lakh Sqft in Pune's Khed for Rs 730 mn
WAREHOUSING & LOGISTICS

Mahindra Logistics leases 4.75 Lakh Sqft in Pune's Khed for Rs 730 mn

Mahindra Logistics (MLL) has secured a lease for 4.75 lakh sq ft of warehousing and logistics space in Khed, Pune, for approximately Rs 730 million over five years. The property is situated in Karanje Emerald Industrial Park and the lease agreement was formalised on January 20, 2025, with Karanje Emerald Logistics Park as the lessor.

The leasing transaction includes a security deposit of Rs 30.45 million, a stamp duty payment exceeding Rs 1.8 million, and a registration fee of Rs 1,000. The agreed-upon monthly rent for the initial 24 months is Rs 10.15 million, with an annual escalation clause. The lease comes with a five-year lock-in period, and rent payments are scheduled to commence on April 3, 2025.

Mahindra Logistics continues to expand its warehousing footprint, having previously announced an investment of Rs 1.70 billion for a facility in Phaltan, near Pune. The company currently manages over 22.1 million sq ft of logistics space and is actively exploring opportunities for further growth in the sector.

The demand for warehousing and logistics spaces remains strong across major Indian cities. According to a report by Cushman & Wakefield, logistics and industrial (L&I) space leasing is expected to reach 50-53 million square feet in 2024, driven by sustained demand. In 2023, L&I leasing activity stood at 53.57 million sq ft across major hubs such as Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad, Pune, and Ahmedabad. By October 2024, leasing volumes had already exceeded 41 million sq ft in these key real estate markets.

News source: Hindustan Times

Mahindra Logistics (MLL) has secured a lease for 4.75 lakh sq ft of warehousing and logistics space in Khed, Pune, for approximately Rs 730 million over five years. The property is situated in Karanje Emerald Industrial Park and the lease agreement was formalised on January 20, 2025, with Karanje Emerald Logistics Park as the lessor. The leasing transaction includes a security deposit of Rs 30.45 million, a stamp duty payment exceeding Rs 1.8 million, and a registration fee of Rs 1,000. The agreed-upon monthly rent for the initial 24 months is Rs 10.15 million, with an annual escalation clause. The lease comes with a five-year lock-in period, and rent payments are scheduled to commence on April 3, 2025. Mahindra Logistics continues to expand its warehousing footprint, having previously announced an investment of Rs 1.70 billion for a facility in Phaltan, near Pune. The company currently manages over 22.1 million sq ft of logistics space and is actively exploring opportunities for further growth in the sector. The demand for warehousing and logistics spaces remains strong across major Indian cities. According to a report by Cushman & Wakefield, logistics and industrial (L&I) space leasing is expected to reach 50-53 million square feet in 2024, driven by sustained demand. In 2023, L&I leasing activity stood at 53.57 million sq ft across major hubs such as Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad, Pune, and Ahmedabad. By October 2024, leasing volumes had already exceeded 41 million sq ft in these key real estate markets. News source: Hindustan Times

Next Story
Infrastructure Transport

Ganga Expressway Adopts AI for Real-Time Road Quality Checks

The Yogi Adityanath government has partnered with ETH Zurich and RTDT Laboratories AG to deploy artificial intelligence and sensor-based technology on the Ganga Expressway. This system enables real-time monitoring of construction quality, enhancing both safety and ride comfort.Spanning five hundred and ninety-four kilometres across twelve districts from Meerut to Prayagraj, the Ganga Expressway will be India’s longest. A specially designed Innova vehicle fitted with seven accelerometers now scans all six lanes for surface uniformity and elevation consistency.Unlike traditional methods conduc..

Next Story
Infrastructure Transport

Bihar Approves Rs 330 Billion Road Upgrade Plan for FY26

The Ministry of Road Transport and Highways has approved Bihar’s Rs 330 Bn road development plan for financial year twenty twenty-six. The announcement was made by Road Construction Minister Nitin Naveen, outlining projects aimed at boosting infrastructure and economic growth.Detailed Project Reports have been prepared for works worth Rs 180 to 190 Bn, with construction expected to begin before 15 August upon central approval. Around Rs 199.81 Bn will be spent to upgrade five hundred and twenty-six kilometres of roads to two-lane and four-lane highways.Eight major roads have been approved, i..

Next Story
Infrastructure Transport

Reay Road Bridge Inaugurated to Ease South Mumbai Traffic

South Mumbai will unveil the Reay Road Bridge on 13 May 2025, marking a major milestone in the city’s infrastructure development. This is Mumbai’s first land-based cable-stayed road overbridge and spans three hundred and eighty-five metres, connecting Byculla and Mazgaon.The six-lane structure includes pedestrian pathways and aims to ease congestion while improving connectivity. The project began on 14 February 2022 after demolition of the earlier British-era bridge. Though construction was completed in December 2024, the formal inauguration is scheduled six months later.Built at an estima..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?