Latest News | Logistic Park Developer Indospace to Invest over Rs 700 Cr in Maharashtra

New Delhi, Jan 19 (PTI) IndoSpace will invest more than Rs 700 crore in Maharashtra to develop industrial and logistics real estate.

In a statement, the company said that it has signed an MoU (Memorandum of Understanding) with the Maharashtra government at the World Economic Forum in Davos.

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"The company plans to expand its footprint by acquiring approximately 100 acres with an investment of more than Rs 700 crore in the Chakan-Talegaon region," it said.

This move is expected to create new job opportunities and boost the region's economic growth.

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"IndoSpace's strategic approach to enhancing Maharashtra's industrial and logistics infrastructure has strengthened further with the signing of this MoU with the Maharashtra Government," Rajesh Jaggi, Vice Chairman - Real Estate at Everstone Group, said.

This collaboration will propel IndoSpace's expansion in the Chakan-Talegaon region, creating sustainable and efficient industrial spaces that will drive India's economic growth, he said.

IndoSpace is currently leading the market in Pune with the largest portfolio.

The company manages over 500 acres across nine industrial and logistics parks in the Chakan area, making it the preferred choice for major companies for their industrial and warehousing needs.

With nearly 10.5 million square feet of built-up space, IndoSpace's parks are strategically located for e-commerce and 3PL companies looking to speed up distribution in the Pune region. This impressive portfolio has been built with an investment of more than Rs 3,500 crore.

The company also has plans to expand further in the Chakan-Talegaon micro-market and is in the process of acquiring another 200-250 acres through MIDC allotment and private acquisition over the next 2 years.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)