Hey there, folks! Mahindra Logistics (MLL) is making waves in the logistics sector with its recent lease agreement for a whopping 4.75 lakh square feet of warehousing and logistics space in Khed, Pune. This deal, valued at around Rs 730 million over five years, is a clear sign of the company’s growth and expansion plans.
Here are some key details about this exciting lease agreement:
– The leased property is located in Karanje Emerald Industrial Park, a well-known logistics hub in Pune.
– The agreement was officially signed on January 20, 2025, with Karanje Emerald Logistics Park as the lessor.
– The lease includes a security deposit of Rs 30.45 million, a stamp duty payment of over Rs 1.8 million, and a nominal registration fee of Rs 1,000.
– The monthly rent for the first 24 months is set at Rs 10.15 million, with an annual escalation clause.
– The lease also includes a five-year lock-in period, with rent payments scheduled to start on April 3, 2025.
This move aligns with Mahindra Logistics’ strategy to enhance its warehousing capabilities and meet the growing demand in the logistics sector. The company has been investing heavily in this area, with a previous Rs 1.70 billion investment for a facility in Phaltan, near Pune. Currently, Mahindra Logistics manages over 22.1 million square feet of logistics space and is actively seeking further growth opportunities.
The demand for warehousing and logistics space in India is on the rise, driven by sectors like e-commerce, manufacturing, and retail. In fact, experts predict that L&I space leasing could reach 50-53 million square feet in 2024. Major leasing hubs include Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad, Pune, and Ahmedabad, with strong leasing volumes already seen in key markets by October 2024.
Mahindra Logistics’ latest lease agreement in Pune demonstrates its commitment to growth and expansion in the logistics and warehousing space. With a strong presence in the market and a focus on meeting demand, the company is well-positioned to capitalize on the sector’s ongoing expansion.
So, keep an eye on Mahindra Logistics as they continue to make moves in the logistics sector and shape the future of warehousing in India!
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