Top 4 industrial and logistics space leasing deals in India's real estate market

IndoSpace leases over 7 lakh sq ft in Khalapur near Mumbai to RenewSys India for ₹1.43 crore monthly, marking one of the largest logistics deals

In one of the largest warehousing and industrial logistics leasing deals, IndoSpace has leased over seven lakh sq ft to RenewSys India Pvt Ltd, a solar photovoltaic module manufacturer, in Khalapur near Mumbai for a 10-year period, with a monthly rent of ₹1.43 crore, as per property registration documents accessed by CRE Matrix.

India real estate update: In one of the largest warehousing and industrial logistics leasing deals, IndoSpace has leased over seven lakh sq ft to RenewSys India Pvt Ltd, a solar photovoltaic module manufacturer, in Khalapur near Mumbai.(Pexels)

The space has been taken on lease through three separate transactions. The documents show that the first unit, measuring 1.32 lakh sq ft, was leased at ₹27.14 lakh per month. The second unit, measuring 2.23 lakh sq ft, was leased at ₹45.90 lakh per month, and the third unit, measuring 3.45 lakh sq ft, was rented at ₹70.73 lakh per month.

While this is one of the largest deals in 2025 so far, several other warehousing and industrial logistics transactions of close to one million sq ft have been reported in the last six months.

Here’s a list of warehousing and industrial logistics transactions this year.

1) Mahindra Logistics leases 4.75 lakh sq ft space in Khed near Pune

Mahindra Logistics Limited in January 2025 had leased 4.75 lakh sq ft of warehousing and logistics space in Khed near Pune for a rent of around ₹73 crore over five years, according to the property registration documents accessed by CRE Matrix.

According to the documents, the 4.75 lakh sq ft of built-up space is located in Karanje Emerald Industrial Park in Khed, Pune.

2) Tata Autocomp Katcon leases 77,800 sq ft from Malpani Group in Chakan near Pune

Malpani Group announced on March 3 that it had inked a 10-year deal with Tata Autocomp Katcon Exhaust Systems Pvt Ltd to lease 77,800 sq ft of space in Malpani Industrial and Logistics Park in the industrial hub of Chakan, near Pune, for around ₹40 crore.

The company has signed a 10-year lease deal with Tata, marking its second agreement with Tata.

3) HUL leases 5.93 lakh sq ft warehousing space in Bhiwandi near Mumbai

According to property registration documents accessed by Propstack, Hindustan Unilever Limited (HUL) has leased out 5.93 lakh sq ft of warehousing space in Bhiwandi near Mumbai at an initial monthly rent of ₹1.54 crore.

The documents showed that Hindustan Unilever leased the land for seven years in October 2024, with a provision for a rental escalation of 5% every year.

4) IndoSpace sells 2.5 mn sqft warehousing space to Alta Capital near Pune and Andhra Pradesh

Apart from the fresh transaction in Khalapur near Mumbai, IndoSpace announced in December 2024 that it had sold 2.5 million square feet of fully built and leased warehousing space to Alta Capital for around $100 million (over ₹800 crore), according to a news report by Moneycontrol.

Alta Capital is the Indian operating partner of Singaporean asset management firm Hillhouse Investments, and this transaction represents the company's second "core" deal in the warehousing space. Indospace sold assets in Pune, Maharashtra, and Sri City, Andhra Pradesh, the news report said.

Industrial logistics and warehousing space leasing overview

India’s industrial and logistics real estate sector saw strong growth in Q1 2025, with absorption reaching 16.0 million sq ft, an 18.5% Y-o-Y increase from 13.5 million sq ft in Q1 2024, according to Savills India, a real estate advisory firm. Tier-I cities accounted for 79% of this absorption, while Tier-II and Tier-III cities contributed 21%.

Delhi-NCR led with 3.4 mn sq. ft. (22%), followed by Mumbai at 2.5 mn sq. ft. (16%), and Pune at 2.3 mn sq. ft. (14%), the report added.