DHL Logistics Renews 3.17 Lakh Sq Ft Warehouse Lease in Panvel Near Mumbai
DHL Logistics has renewed its lease for a 3.17 lakh sq ft warehouse in Panvel, near Mumbai, at ₹1.8 crore per month. Panvel is emerging as a key logistics hub due to its proximity to the upcoming Navi Mumbai airport.
Dhl LogisticsPanvelWarehousingNavi Mumbai AirportReal EstateReal Estate NewsOct 03, 2025
Located near the upcoming Navi Mumbai airport, Panvel is increasingly becoming a key logistics hub. The logistics and supply chain giant has renewed its lease at the Ascent Free Trade and Warehousing Zone, developed by Ascendas Panvel FTWZ, part of the CapitaLand Group. The lease, starting August 1, 2024, is at a rent of ₹56.70 per sq ft per month, according to the documents.
The lease comes with a 5% escalation from June 2025, as shown in the documents. The company has deposited ₹14.11 crore as a security deposit. DHL Group serves more than 50,000 locations and has over 21 million square feet in warehousing operations in India. DHL and CapitaLand Group declined to comment.
Earlier this year, Mahindra Logistics Limited had leased 2.97 lakh square feet of industrial space near Pune for a monthly rent of ₹71.37 lakh for a period of five years, according to property registration documents accessed by Propstack.
Knight Frank India, a leading international property consultancy, in its half-yearly report, India Warehousing Market Report, said there was a 42% YoY surge in leasing volumes to 32.1 million square feet (mn sq ft) across the top eight markets. This sharp rise in demand was led by the manufacturing sector, which saw a 71% YoY growth in space uptake, accounting for 45% of the total transactions.
The report highlights the expanding role of India as a resilient, consumption-led, and manufacturing-driven economy whose industrial and warehousing market is benefiting from global trade realignments, government-led infrastructure, and PLI investments. The increasing focus on higher-grade facilities is also apparent; transaction volumes reflect this shift as 63% of leased space was Grade A, up from 54% a year ago.
Pan-India stock exceeded 500 mn sq ft in H1 2025, with Grade A assets constituting 75% of new supply; vacancy dropped from 13.1% to 12.1% as supply lagged demand, the report said. As far as transaction volumes are concerned, Mumbai led with 7.5 mn sq ft, up 63% YoY. Pune and Chennai registered 76% and 135% growth respectively, led by strong manufacturing uptake.
Frequently Asked Questions
What is the size of the warehouse DHL Logistics has renewed its lease for in Panvel?
DHL Logistics has renewed its lease for a 3.17 lakh sq ft warehouse in Panvel, near Mumbai.
What is the monthly rent for the renewed lease?
The monthly rent for the renewed lease is ₹1.80 crore.
Who is the landlord for the warehouse in Panvel?
The landlord for the warehouse in Panvel is Ascendas Panvel FTWZ Private Limited, part of the CapitaLand Group.
What is the significance of Panvel's location near the upcoming Navi Mumbai airport?
Panvel's proximity to the upcoming Navi Mumbai airport is making it a key logistics hub, attracting more warehousing and logistics companies.
What is the percentage increase in leasing volumes in the Indian warehousing market according to Knight Frank India's report?
According to Knight Frank India's report, there was a 42% YoY surge in leasing volumes to 32.1 million square feet across the top eight markets.
Related News Articles
RERA Cases Weekly Round-Up: Relief for Homebuyers Across India
From refund orders to structural defect rectification
Gurugram Leads Housing Price Surge, Mumbai Lagging Behind
In the last five years, the average price of new housing projects in India’s top 10 cities has surged by 88%, with Gurugram leading the pack at a 160% increase. Mumbai, on the other hand, has seen the lowest rise at 37%. This surge is attributed to massiv
Anant Raj Reports 75% Increase in Net Profit for Q2 FY25
Anant Raj has announced a significant 75% increase in its net profit for the second quarter of the fiscal year 2025. The company also reported a 53.67% rise in its net consolidated total income. This robust growth is a testament to the company's strategic
DLF JV Firm Sells IT Park in West Bengal's Largest Real Estate Deal for Rs 637 Cr
In a significant move, DLF, the country's largest real estate developer by market cap, has completed the sale of an IT park in West Bengal for Rs 637 crore. The deal, involving a joint venture firm, marks one of the largest real estate transactions in the
Eleganz Interiors Files DRHP with NSE Emerge
Eleganz Interiors plans to use Rs 25 crore from the IPO proceeds to repay a portion of its outstanding borrowings, as it files its DRHP with NSE Emerge.
Tata Steel Slapped with Rs 146 Mn Fine for Delay in Stamp Duty Payment
Tata Steel, one of India's leading steel producers, has been penalized with a fine of Rs 146 million by the Maharashtra government for failing to timely pay the stamp duty. The fine, as per the company's exchange filing, highlights the importance of adher