An Indian and South East Asian-focused private equity firm called Everstone Group has a real estate division called IndoSpace. In two logistics parks in Taoru and Dhatir, both close to Palwal and Sohna, the business has built 3.4 million square feet of space. With a total potential expansion of 14 million square feet, IndoSpace also owns 8 other Parks in the Delhi NCR Region in addition to these two. The company considering several greenfield properties in NCR for the Financial Year 2024 since it thinks that the infrastructure (KMP, DME) that is now in place and that will be built shortly would lead to an increase in the demand for warehousing, particularly from 3PL and E–Commerce Business.
A Senior Executive stated, that: Developer of Industrial and Logistics Parks IndoSpace has reportedly invested Rs 1000 crore to increase the size of its NCR Warehouse. As per the statement given by Rajesh Jaggi, who is a Vice Chairman, of Real Estate, Everstone Group, NCR is a key place for us in terms of warehousing. We are growing our Network in this area since it serves as a gateway to the North American market and is home to several businesses and prospects. We intend to maintain the momentum moving forward and are certain that these new parks will significantly contribute to the expansion of several industries, such as Pharmaceuticals, 3rd Party Logistics (3PL), E-Commerce, distribution, and retail. He further added.
NCR is a key place for us in terms of warehousing.
Around 10 cities, IndoSpace operates 50 logistics parks totaling 57 million square feet. The Bilaspur Chowk belt in Haryana, which includes Pataudi Road, Tauru Road, Farukh Nagar, and Jhajjar, has seen a boom in the Warehousing Sector. Savills India estimated that more than 46 million square feet of Industrial and Warehouse space will be absorbed in the same year, i.e., 2022. In 2022, Mumbai and Delhi NCR, two of India’s main cities, had the greatest absorption rates, each up to 14%.
Bilaspur Chowk belt in Haryana, which includes Pataudi Road, Tauru Road, Farukh Nagar, and Jhajjar, has seen a boom in the Warehousing Sector.
Together, the 3rd Party Logistics (3PL) and E-Commerce Industries accounted for 52% of the total absorption expected in 2022, which showed no signs of slowing. At the end of 2022, the total amount of Industrial and Warehousing Space in Tier 1 Cities was 300 million square feet, and in 2023, it is anticipated to increase to 342 million square feet. The warehousing industry attracted $1.5 billion in Private Equity Investment in 2022.