Pardos Logistics has acquired 41-acre of land area for around Rs 50 crore on the Ballabhgarh-Sohna Highway and will foster 1,000,000 sq ft of prime warehousing space with an investment of Rs 200 crore.
“The land, which was acquired from a group of Delhi-based investors, will be developed over a period of 18 months with an investment corpus of approximately Rs 200 crore. The land is ideally located, benefiting from proximity to critical road infrastructure like the Delhi-Vadodara Expressway, Eastern Peripheral Expressway, National Highway 8, and KMP Expressway,” said Akshay Uday, Sr. Vice President – ANAROCK Capital.
Anarock has facilitated the arrangement. Pardos Logistics is a subsidiary of Pardos Real Estate, a development platform hatched by the DMI Group’s Alternative Investment Fund.
The overall land costs around the Ballabhgarh-Sohna Highway district range from Rs 1.4 to 1.5 crore per acre.
The Sohna-Ballabgarh market has acquired conspicuousness over the most recent 2 years since industrial and warehousing player ESR India purchased land there to layout a ~77-acre warehouse.
Amazon has rented 900,000 sq. ft. in the ESR warehousing office, and other key retailers like Tata Croma have additionally gotten space there.
“The warehousing and logistics sector has been one of the primary beneficiaries of the new post-pandemic market realities,” said Shobhit Agarwal, MD & CEO – ANAROCK Capital. Demand for warehousing has increased remarkably with the rise in manufacturing activities across the nation.