+
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 Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?