With the boost in the e-commerce industry, the demand for warehousing has also increased. To fulfil the demand, a subsidiary of Pardos Real Estate, Pardos Logistics has acquired land in Haryana, with an area of 21 acres to develop the warehousing space of 1 million sq ft. Anarock Group said in a statement as the Capital Markets division felicitated the deal. Anarock Group is an e-commerce land consultancy company that fulfils the demand for warehouses.
The cost of the land has not been revealed by the company yet, but they have mentioned the location of the land. The company revealed that the space is within the range of the Ballabhgarh-Sohna Highway area, and the range of space around this area is Rs 1.4 crore to 1.5 crores per acre. The senior vice president of Anarock Capital has said that the land which was bought by the investors based out of Delhi, will soon be developed into a warehouse over the period of almost 18 months. A collection of approximately Rs 200 crore will be invested into the project, to make it a great success.
There is a possibility for a surge in the warehousing demand, due to the constant and steady increase in online business.
The markets of Sohna and Ballabgarh area have gained a lot of notability in the past few years since ESR India, which is a well-known player in industries and warehousing, has bagged the acquisition of land in that area, with an area of 77-acre, for warehousing. 900,00 sq ft was leased in the ESR warehousing facility by shipping giant Amazon, and other major retailers of the market like Tata Croma have also taken up land in the same area. The land is located ideally, which makes it easier for companies to benefit from the accessibility to the important road and infrastructure like the eastern peripheral expressway, Delhi – Vadodara expressway, National Highway 8 and also the KMP expressway.
The Managing Director and CEO of Anarock Capital, Shobhit Agarwal mentioned that the logistics sector and the warehousing fall under the category of primary beneficiaries of the market realities that have been growing post-pandemic. The demand for logistics and warehousing has increased after the rise in manufacturing work all over the country. The changing business model and economic structure are also responsible for the sector’s growth.
To fulfil the demand for e-commerce, Pardos Logistics has acquired land in Haryana.
According to the stats of Anarock, the complete and total warehousing stock of Grade A India as of the end of 2021, was approximately 140 mm square ft, which is currently growing at the CAGR of 16 per cent between the years 2018 and 2021. NCR accounted for a 15-20 per cent share of this. With the expansion of e-commerce during the COVID pandemic, there was a major push in demand. There is a possibility for a surge in the warehousing demand, due to the constant and steady increase in online business. There is also a great demand for multi-level warehousing.
The Indian warehousing sector is seen with great potential for tremendous growth according to domestic and international private companies. Therefore, they are trying to find ways to bridge the gap between the efficiency of operations and cost.