Pune real estate: Mahindra Logistics leases 4.75 lakh sq ft space in Khed for five years for around ₹73 crore

Pune real estate: Mahindra Logistics leases 4.75 lakh sq ft space in Khed for five years for around ₹73 crore


Mahindra Logistics Limited has leased 4.75 lakh sq ft of warehousing and logistics space in Khed near Pune for a rent of around 73 crore over five years, according to the property registration documents accessed by CRE Matrix.

Mahindra Logistics Limited has leased 4.75 lakh sq ft of warehousing and logistics space in Khed near Pune for a rent of around <span class=
Mahindra Logistics Limited has leased 4.75 lakh sq ft of warehousing and logistics space in Khed near Pune for a rent of around 73 crore over five years. (Picture for representational purposes only)(Pexels)

According to the documents, the 4.75 lakh sq ft of built-up space is located in Karanje Emerald Industrial Park in Khed, Pune.

The space was taken on rent from Karanje Emerald Logistics Park Pvt Ltd, for which the transaction was registered on January 20, 2025.

According to the documents, the security deposit for the transaction is 3.45 crore, and a stamp duty of over 18 lakh was paid along with a 1,000 registration fee.

According to the documents, the monthly rent for the first 24 months is 1.15 crore, along with an annual escalation clause. The lock-in period for the transaction is five years.

Also Read: Mahindra Lifespaces wins redevelopment deal worth 950 crore for three Mumbai housing societies

The rent payment commencement date is April 3, 2025.

Mahindra Logistics Ltd in an email response to HT.com said, “Mahindra Logistics currently manages over 22.1 mn Sq. ft. and is continually exploring and assessing new opportunities for growth. As per policy, we do not comment on any specific financial deals. Our focus remains on delivering exceptional value to our customers and stakeholders, driving innovation, and solidifying our position as a leader in providing integrated solutions in logistics,”

While Karanji Emerald Logistics Park Pvt Ltd could not be reached for comment.

Mahindra Logistics Limited (MLL) announced last year that it would invest 170 crore in a warehousing facility in Phaltan, near Pune.

Also Read: Premiumization of Mahindra SUVs holds a mirror to luxury housing: Amit Kumar Sinha, MD, Mahindra Lifespaces

Warehousing and logistics leasing

According to a report by Cushman & Wakefield, on sustained demand, logistics and industrial (L&I) space leasing is set to reach 50-53 million square feet in eight major cities in 2024.

Also Read: Demand for logistics, industrial spaces to touch 50-53 million sq ft in 2024: Report

The leasing of L&I spaces stood at 53.57 million square feet across Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad, Pune and Ahmedabad. The report said that as of October 2024, the leasing volume has already surpassed 41 million sq feet across the top real estate markets.



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