MRF Leases Massive Warehousing Space in Pune's Mawal Area
MRF has leased a massive 3.85 lakh sq ft warehousing space in Pune's Mawal area at a monthly rent of ₹1.04 crore, making it one of the largest warehousing deals in the region.
Pune Real EstateMrfWarehousing SpaceNdr Tradehouse Pvt LtdCre MatrixReal Estate PuneJul 29, 2024
The property also comes with a common area maintenance cost of ₹3.85 lakh per month, and a security deposit of ₹3.14 crore. The lease agreement also includes an annual rental escalation clause of 4.5% and a lock-in period of three years.
Pune's real estate market is home to several automobile manufacturing units and ancillary materials required for the manufacturing. In recent times, the city has witnessed several significant deals in the warehousing and logistics space. For instance, in November 2023, Bajaj Auto had leased 7.63 lakh square meters of land from MIDC in Chakan, near Pune, for ₹53.43 crore. Similarly, in April 2024, Finolex Industries, a manufacturer of PVC pipes, sold its leasehold rights of 25 acres of land for ₹470 crore to Terravista Developers Pvt Ltd in Pimpri near Pune.
The Pune real estate market has also witnessed several high-end residential deals in recent times. For instance, a 12,000 sq ft penthouse was recently sold in Pune for ₹37 crore, making it the most expensive property deal in the city. The property is located in Lodha One, Bund Garden, a project by listed real estate developer Lodha, also known as Macrotech Developers.
NDR Tradehouse Pvt Ltd is a leading real estate developer with a presence in Pune and other parts of the country. The company has developed several residential and commercial projects in the region.
MRF is a leading automobile tyre manufacturer with a presence in several parts of the country. The company has a strong manufacturing presence in Pune and other parts of the country.
CRE Matrix is a leading real estate data and analytics company that provides detailed information on property transactions and market trends.
Proptstack.com is a leading real estate data and analytics company that provides detailed information on property transactions and market trends.
Frequently Asked Questions
How much warehousing space has MRF leased in Pune?
MRF has leased 3.85 lakh sq ft of warehousing space in Pune's Mawal area.
What is the monthly rent of the leased property?
The monthly rent of the leased property is ₹1.04 crore.
Who is the lessor of the property?
The lessor of the property is NDR Tradehouse Pvt Ltd.
What is the tenure of the lease agreement?
The lease agreement is for a period of five years, extendable for another five years.
What is the common area maintenance cost of the property?
The common area maintenance cost of the property is ₹3.85 lakh per month.
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