The 9-year lease agreement covers a state-of-the-art warehousing space equipped with top-notch infrastructure and amenities, catering to the FMCG sector’s needs. This facility is part of Sumadhura’s investment of Rs. 600 crores in the park’s initial phase, which spans 100 acres and offers 2.5 million square feet of commercial warehousing space. Future expansion plans aim to increase the total warehousing space to 6 million square feet.

Madhusudhan G, Chairman & Managing Director of Sumadhura Group, commented, “We are thrilled to welcome NX Logistics India to our Sumadhura Logistics Park. This partnership underscores our commitment to providing advanced warehousing solutions and advancing the logistics sector in India. The rising demand for Grade A warehouses highlights the growing market need, especially from large-scale industries like FMCG, which is projected to reach a $10 billion market by 2030.”

Colliers reports that industrial and warehousing demand across the top five Indian cities remained strong, with approximately 13 million square feet of leasing activity in the first half of 2024 and a 17% year-over-year growth. Third-party logistics (3PL) players continued to dominate, accounting for 36% of the demand, with significant contributions from the engineering, FMCG, and electronics sectors.

Also Read: Bengaluru’s Home Sales Surge: 30% Jump in Value and 19% Rise in Transactions in June Quarter

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Kalwa is rapidly emerging as a prominent residential area due to its strategic location, which provides easy access to Thane—an active real estate market—and Navi Mumbai, a burgeoning employment center. This growing connectivity and improving infrastructure make Kalwa an attractive option for professionals seeking convenient housing solutions.

Anand Moorthy, Co-founder and CBO of Capital Market & Services at Square Yards, commented on the acquisition, saying, “Leading developers are strategically acquiring significant land parcels across key markets. This move aligns with the increasing demand for office spaces and residential apartments in gated communities. The high-value transactions signal profitable opportunities for developers in both residential and commercial sectors. Additionally, the digitization of land records and enhanced transparency are boosting stakeholder confidence in the Indian real estate sector.”

The acquisition, finalized in September 2024, includes a stamp duty of Rs. 37.61 crore and a registration fee of Rs. 30,000. The land will be developed by Ekamaya Property Private Limited, a wholly-owned subsidiary of Birla Estates Private Limited.

Birla Estates, known for its extensive development footprint, operates across Mumbai MMR, Pune, Bengaluru, and Delhi NCR. The company recently ranked third in Mumbai MMR for registered home sales value during the April-June 2024 quarter, with transactions totaling Rs. 1,126 crore. Birla Estates’ Q4 FY2024 report highlights a robust pipeline of 18 million square feet across various projects, with an estimated gross development value of Rs. 32,000 crore.

Also Read: Birla Estates Acquires 10 Acre Land Parcel in Bengaluru

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