Pardos realty arm acquires 41 acre land in Haryana for warehouse

Pardos Logistics, a subsidiary of Pardos Real Estate, has acquired 41 acres of land in Haryana for the development of 1 million sq ft of warehousing space, as e-commerce has fueled demand for warehouses.

The deal had been facilitated by the Anarock Group Capital Markets division, which did not reveal the cost of the land parcel but stated the going rate of the location of land around the Ballabgarh-Sohna Highway, is between the range of Rs 1.4 to 1.5 crore per acre.

Pardos Real Estate is a development platform formed by the alternative investment fund of the DMI Group.

Anarock Capital Senior Vice President Akshay Uday said that the land was acquired from a group of investors based in Delhi. It will be developed in approximately 18 months with an investment corpus of around Rs 200 crore.

The Sohna-Ballabgarh market gained prominence in the past two years after the land acquisition by ESR India, an industrial and warehousing player to set up a warehouse of 77 acres.

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Also read: Indian warehousing faces stiff challenge due to surging land prices

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