Pune's Warehousing Boom: MRF Leases Massive Space in Mawal
MRF leases 3.85 lakh sq ft warehousing space in Pune's Mawal area at a monthly rent of ₹1.04 crore
Pune Real EstateMrfWarehousing SpaceMaharashtra Industrial Development CorporationLodha DevelopersReal Estate MaharashtraJul 29, 2024
The property has been leased by NDR Tradehouse Pvt Ltd, and the common area maintenance will be ₹3.85 lakh per month. The security deposit for the transaction is ₹3.14 crore, with an annual rental escalation clause of 4.5% built into it. The lease agreement has a lock-in period of three years.
Pune's strategic location and proximity to major industrial hubs make it an attractive destination for companies looking to set up their warehousing and manufacturing units. The city is home to several automobile manufacturing units and ancillary materials required for the manufacturing.
In recent times, there have been several significant deals in the Pune real estate market. In November 2023, Bajaj Auto had leased 7.63 lakh square metres of land from MIDC (Maharashtra Industrial Development Corporation) in Chakan, near Pune, for ₹53.43 crore. Similarly, 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.
Pune has also been in the news for its luxury residential market, with a 12,000 sq ft penthouse being sold in Pune for ₹37 crore, making it the most expensive property deal in the city.
MRF Limited is a leading Indian tyre manufacturer, founded in 1946. The company is known for its high-quality tyres and has a strong presence in both domestic and international markets.
NDR Tradehouse Pvt Ltd is a private limited company, which is involved in the business of trading and warehousing.
Maharashtra Industrial Development Corporation (MIDC) is a government of Maharashtra undertaking, established to promote industrial development in the state.
Lodha Developers, also known as Macrotech Developers, is a leading real estate developer in India, known for its luxury residential projects.
MRF Limited is a leading Indian tyre manufacturer, founded in 1946. The company is known for its high-quality tyres and has a strong presence in both domestic and international markets.
NDR Tradehouse Pvt Ltd is a private limited company, which is involved in the business of trading and warehousing.
Maharashtra Industrial Development Corporation (MIDC) is a government of Maharashtra undertaking, established to promote industrial development in the state.
Lodha Developers, also known as Macrotech Developers, is a leading real estate developer in India, known for its luxury residential projects.
Frequently Asked Questions
What is the size of the warehousing space leased by MRF 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 warehousing space leased by MRF?
The monthly rent of the warehousing space leased by MRF is ₹1.04 crore.
What is the tenure of the lease agreement between MRF and NDR Tradehouse Pvt Ltd?
The lease agreement is for a period of five years, which is extendable for another five years.
Who is the developer of the luxury residential project Lodha One, Bund Garden?
Lodha Developers, also known as Macrotech Developers, is the developer of the luxury residential project Lodha One, Bund Garden.
What is the significance of Pune in the context of real estate and manufacturing?
Pune's strategic location and proximity to major industrial hubs make it an attractive destination for companies looking to set up their warehousing and manufacturing units.
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