The new project
Everstone Group’s industrial and logistics real estate development platform, Indospace, claims to have opened a new industrial park in Narasapura near Bangalore.
The Park will strengthen IndoSpace’s influence in Karnataka‘s production and industrial areas, and its modern facilities can meet the increasing demands of all industries for industrial warehousing and logistics.
The Narasapura Industrial Zone is located near National Highway 75 (NH75) and is one of the most famous areas in Karnataka. It connects the leading consumer centres in central, eastern and north-eastern Bangalore, which account for a large population.
The Indospace Park in Narasapura is also strategically located, with easy access to Chennai, Tirupati and HoskoteMalur industrial areas.
The warehouse market in Bangalore is 4.3 million square meters. Lease in the fiscal year 2020.
As the warehouse market consolidates, developers are venturing into the city’s significant clusters to purchase land for greenfield development, making it the preferred destination for Japanese, European and Korean electronics, fast-moving consumer goods and fast-moving consumer goods companies.
Rajesh Jaggi, a real estate venture capitalist of Everstone Group, said: “Through our A-level logistics infrastructure to provide customers from various industries with a solid foundation, we hope to benefit from the production boom in Karnataka.
In addition, we are in Narasapura The opening of the new Park will further help attract global manufacturers to Karnataka.”
Indospace is India’s largest A-level industrial and logistics real estate investor and manager. It remains optimistic about the industry and plans to acquire land in central warehouses and industrial centres to gain more market share.
Indospace opened two parks in Vallam and Oragadam in Tamil Nadu and expanded its portfolio by 118 hectares in June.
The company has a portfolio of more than 43 million square feet in 41 industrial and logistics parks in India. These parks will strengthen IndoSpace’s influence in strategically important regions and take a step towards its long-term goal of establishing 120 million square meters of modern logistics infrastructure in India.
Indospace Industrial and Logistics Park Vallam II are on National Highway 57, which extends over 50 hectares within the National Industrial Promotion Corporation of Tamil Nadu (SIPCOT). From the park there is easy access to Vallam, Oragadam, Irungattukottai and Sriperumbudur.
Indospace Industrial and Logistics Park Oragadam III, covering 68 hectares, is located on National Highway 48. The Park provides easy access to Chennai City via the Outer Ring Road. It is also close to Oragadam’s mature industrial and automotive centre and Sriperumbudur micro-market.
Both parks will provide services to original equipment manufacturers such as Yamaha, Hyundai, Royal Enfield, Nissan, Daimler and Foxconn, the most important industrial companies in these regions.
In March, Indospace and Model Economic Township, a subsidiary of Reliance Industries Ltd., acquired 55 acres of land in Farukhnagar, Haryana, with a development potential of 1.28 million square feet.
In 2020, it spent approximately US$500 million on nine acquisitions. Indospace plans to add 4 million square feet of storage space by the end of 2021.
What experts say
Real estate consultant Knight Frank India predicts that by 202526, warehouse transactions in India’s eight most important cities (significant markets) will grow at an average annual rate of 19% to 76.2 million.