In a major land deal in NCR, the Capital Markets division of leading independent real estate advisory ANAROCK Group has successfully closed the sale of a 41-acre land parcel on the Ballabhgarh-Sohna Highway.
Pardos Logistics, a subsidiary of Pardos Real Estate (a development platform incubated by the DMI Group’s Alternative Investment Fund) will utilize this land parcel to develop 1 Mn sq.ft. of prime warehousing space. The prevailing land prices around the Ballabhgarh-Sohna Highway region range from INR 1.4 to 1.5 crore/acre.
Akshay Uday, Sr. Vice President - Anarock Capital, says, "The land, which was acquired from a group of Delhi-based investors, will be developed over a period of 18 months with an investment corpus of approx. INR 200 crore. The land is ideally located, benefiting from proximity to critical road infrastructure like the Delhi-Vadodara Expressway, Eastern Peripheral Expressway, National Highway 8, and KMP Expressway."
The Sohna-Ballabgarh market has gained prominence in the last 2 years since industrial and warehousing player ESR India acquired land there to establish a ~77-acre warehouse. Amazon has leased 900,000 sq.ft. in the ESR warehousing facility, and other key retailers like Tata Croma have also picked up space there.
“The warehousing & logistics sector has been one of the primary beneficiaries of the new post-pandemic market realities,” says Shobhit Agarwal, MD & CEO – Anarock Capital. “With the rise in manufacturing activities across the country, demand for W&L assets has risen remarkably. The expanding economy and changing business models have also been instrumental in the sector’s growth."
-Delhi-NCR-the-New-Playground-for-Real-Estate-Biggies.jpg)
