The Schedule Premises — Warehouse No. WB-01 — forms part of a larger industrial and logistics park developed on 13.63 acres of land spread across Survey Nos. in villages Dohale and Bokhari, Bhiwandi. The chargeable area breaks down into 3,83,784 sq ft shopfloor, 19,928 sq ft mezzanine and 13,536 sq ft canopy space. The Lessee will also have access to external utility space and amenities in the complex.

Key commercial terms

• Lease Term: 9 years from Lease Commencement Date of 11 June 2026.
• Rent Commencement Date: 11 October 2026 (providing a fit-out period).
• Monthly Rent: Rs 30.34 per sq ft of chargeable area, aggregating to Rs 1,26,59,304 (approx. Rs 1.26 crore).
• CAM Charges: Rs 2 per sq ft per month from rent commencement date, amounting to Rs 8,34,496 monthly.
• Escalation: 5% annual increase on both rent and CAM charges from the lease commencement date.
• Security Deposit: Interest-free refundable deposit equivalent to 3 months’ rent — Rs 3,79,77,913 — already paid.
• Lock-in Period: 36 months for the Lessee; entire lease term for the Lessor. Early termination by Lessee during lock-in attracts pre-estimated liquidated damages equal to unexpired rent and CAM.
• Renewal Option: Lessee can renew for 5 years by giving 6 months’ prior written notice; fresh terms to be mutually agreed based on prevailing market conditions.
• Permitted Use: Strictly commercial warehousing only.

Fit-out access was granted from 1 June 2026 on a bare-shell, as-is-where-is basis. The Lessee is solely responsible for all utilities, statutory compliances, insurance of goods, and maintaining the premises as per park guidelines. The Lessor retains ownership and has mortgaged the property to Axis Bank; a no-objection certificate dated 15 June 2026 was issued in favour of the Lessee.

The lease deed was registered under Document No. THN8-12807-2026 after payment of document handling charges. Both parties — Lessor (CIN: U52109MH2024PTC429844, represented by Rahul Sabne) and Lessee (CIN: U51900KA2010PTC053234, represented by Dhanashree Shirali) — confirmed clear title representations and joint measurement of the premises before signing.

This large-ticket transaction highlights continued expansion of organised warehousing and logistics infrastructure in the Bhiwandi-Thane belt, a key node supporting e-commerce fulfilment and distribution for the Mumbai Metropolitan Region.

Also Read: Amazon Leases 5 lac Sq Ft in Airoli

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