Panattoni breaks ground in India with INR 110 Crore investment in Delhi-NCR warehouse park

US based, Panattoni is set to invest Rs 110 crore by March 2025 to establish a warehouse park in Delhi-NCR, its first project in the Indian market. The global industrial and real estate developer announced it foray into the Indian market in July last year and has since invested USD 200 million in developing four industrial and logistics parks, addressing the escalating demand for warehousing spaces in major cities.

On December 5, the company unveiled its first project in India, initiating Phase 1 with the launch of ‘Panattoni Park NH71’ in Delhi-NCR. Managing Director of Panattoni India, Sandeep Chanda, revealed that the company has secured a 17-acre plot for the project’s development. Construction is scheduled to commence in the first quarter of the upcoming calendar year, with completion anticipated within a year.

Chanda disclosed that the total cost for developing 3.6 lakh square feet of area would amount to approximately Rs 110 crore. To meet these expenses, Panattoni has entered into partnerships with institutional investors. Emphasizing India’s strategic importance to its global operations, Chanda stated that Panattoni envisions rapid expansion in the country in the coming years and is actively exploring additional land opportunities in major cities.

According to real estate consultant Vestian, the average monthly rent for warehousing and logistics space in and around the national capital region experienced a 4 percent annual rise to Rs 22.5 per square foot in the first half of the current year due to heightened demand. During the January-June period, the leasing of warehousing and logistics space in Delhi-NCR surged by 68 percent, reaching 4.7 million square feet compared to 2.8 million square feet in the corresponding period last year.

Panattoni India Development Pvt Ltd, the Indian venture, is headquartered in Bengaluru. Globally, the Panattoni Group invests an average of around EUR 8 billion annually. The company has successfully delivered 21.2 million square meters of area in Europe and 56.3 million square meters globally, with an additional 3.1 million square meters under construction in Europe.

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