Indian tyre manufacturer MRF has leased a substantial 3.85 lakh sq ft warehousing space in Sudavadi, Pune’s Mawal area. This 10-year long-term lease is part of a strategic arrangement with NDR Tradehouse. The Chennai-based company will pay an initial monthly rent of Rs. 1.05 crore, with a 4.5 per cent annual rent escalation clause ensuring gradual rent adjustments. Additionally, MRF will incur common area maintenance charges of Rs. 3.85 lakh per month. The transaction was registered on July 18, as per CRE Matrix data.
The lease term includes an initial five-year period, with an option to extend for another five years. A lock-in period of three years ensures both parties’ commitment to the lease for at least that duration. MRF has also secured an agreement for an additional 2 lakh sq ft of space within three years to accommodate future expansion. If NDR Tradehouse fails to provide this space, the lock-in clause will be void.
The rapid expansion of e-commerce, the implementation of the Goods and Services Tax (GST), and the growing demand for efficient supply chain management have driven significant growth in warehouse leasing in India. This trend is particularly evident in major metropolitan areas and emerging industrial hubs, where companies aim to streamline logistics and enhance distribution networks.
