Mahindra Logistics Limited has leased 4.75 lakh sq ft of warehousing and logistics space in Khed near Pune for a rent of around Rs 730 million 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.

The space was taken on rent from Karanje Emerald Logistics Park Pvt Ltd, for which the transaction was registered on January 20, 2025.

According to the documents, the security deposit for the transaction is Rs 34.5 billion, and a stamp duty of over Rs 18 lakh was paid along with a Rs 10 billion registration fee.

According to the documents, the monthly rent for the first 24 months is Rs 115 million, along with an annual escalation clause. The lock-in period for the transaction is five years.

The rent payment commencement date is April 3, 2025. While Karanji Emerald Logistics Park Pvt Ltd could not be reached for comment. Mahindra Logistics Limited (MLL) announced last year that it would invest Rs 1.7 billion in a warehousing facility in Phaltan, near Pune.