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ANAROCK Capital closes 41-acre land sale

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New Delhi, March 29, 2022 – In a major land deal in NCR, the Capital Markets division of 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

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. Rs 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.

Shobhit Agarwal

“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.”

As per ANAROCK Research, the total Pan-India Grade A warehousing stock as of 2021-end stood at approx. 140 Mn sq. ft., growing at 16% CAGR between 2018-2021. Of this, NCR comprises a nearly 15-20% share. The pandemic has been a major demand booster as eCommerce has flourished ever since COVID-19 struck. There will be a steady increase in online businesses, leading to a surge in new warehousing demand. Likewise, multi-level warehouses within the city limits are in great demand.  Over 70% of the modern warehousing capacity in India is concentrated in the top eight cities of MMR, NCR, Bengaluru, Kolkata, Hyderabad, Chennai, Ahmedabad, and Pune.

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