Welspun One, JLL acquire 22 acres in NCR for logistics hub

Welspun One, a prominent real estate development platform, has announced the acquisition of a 22-acre plot of land in the Gurgaon/NH-08 corridor. The strategic purchase, facilitated by JLL, aims to bolster the company's logistics park presence in India.

The site, located in one of India’s most active logistics sub-markets, offers strategic advantages, particularly given the region’s current supply of 64 million square feet of Grade A and B space as of H1 2024. According to JLL, the Gurgaon/NH-08 corridor is now the largest logistics sub-market in India, followed by Bhiwandi in Mumbai. Notably, the corridor saw a gross absorption of 3.7 million square feet in H1 2024, nearly double the absorption recorded in H1 2023, highlighting the increasing demand for warehousing in the area.

“This land transaction is unique because it involves a long lease of aggregated land from multiple private landlords, an emerging transaction typology in India,” said Yogesh Shevade, Head of Logistics & Industrial, India at JLL.

Welspun One’s new acquisition is strategically positioned near existing major logistics parks, making it highly attractive to tenants. The company’s proposed development is expected to complement the surrounding infrastructure, which includes prominent tenants such as leading 3PL providers, e-commerce giants, and retail players.

“This acquisition marks a significant step in expanding our footprint in one of India’s vital logistics corridors,” said Mr. Anshul Singhal, Managing Director, Welspun One. “By leveraging this prime location, we aim to create a cutting-edge logistics hub that will enhance operational efficiencies for our tenants and contribute to India’s broader economic growth.”

Welspun One plans to invest INR 125 crore in the Bilaspur-Tauru Road project, which is anticipated to create 1,200 to 1,500 jobs. The project aligns with the company’s vision to develop state-of-the-art logistics and warehousing facilities that cater to the evolving needs of businesses across various industries.