Amazon to Take 10 Lakh Sq ft Warehousing Space at GMR Logistics Park in Hyderabad

E-commerce major Amazon India has entered into an agreement with GMR Logistics Park Pvt Ltd to lease a warehousing space spread across 10 lakh sq ft for a period of 20 years in Hyderabad. The chargeable area is 10.08 lakh sq ft and the starting rent is around Rs 2 crore per month (Rs 20.15 per sq ft). The lease starts from April 15, 2022. The lease agreement provides for a clause for rental escalation of 15 percent every three years. GMR Logistics Park Pvt Ltd is expected to hand over the first phase of the leaseable premises on April 15, 2022, and phase 2 of the leasable premises on September 1, 2022, the documents showed.