IndoSpace, India’s leading developer of Grade A industrial and logistics real estate, announced two new hubs in Karnataka at an investment of Rs. 580 crores. Spread over 75+ acres, they will cater to a range of industries, from automobiles, engineering, and electronics, as well as Third Party Logistics (3PL) operators.
These two new parks are fulfilment of a commitment by IndoSpace in a Memorandum of Understanding signed with the state government. The MoU envisaged an investment of Rs. 3,000 crores in the logistics sector in Karnataka.
IndoSpace Nelamangala II logistics park envisages an investment of Rs. 240 crores and spans over 35+ acres. The park is strategically positioned along the Bengaluru-Mumbai highway (NH48), and is set to enhance the region’s industrial capabilities, providing top-tier facilities for companies in diverse sectors.
IndoSpace Narasapura II, with an investment of Rs. 340 crores is spread across 40+ acres, and situated off Old Madras Road, (NH 75), with proximity to major industrial hubs like Vemgal, Malur, and Hoskote. The park is designed to offer a state-of-the-art infrastructure to meet the demands of manufacturers from diverse industries.
IndoSpace already has three operational logistics parks in Karnataka. IndoSpace Nelamangala I is spread over 16 acres, IndoSpace Bommasandra, on the new Bengaluru – Chennai highway spans 5.4 acres; and Narasapura I is spread over 64 acres.
Rajesh Jaggi, Vice Chairman, Real Estate, The Everstone Group, said, ” We are excited to be an integral part of Karnataka’s industrial growth story with our strategically located, well-connected logistics parks. Our investment of over Rs. 580 crores in these two new state-of-the-art parks spread over 75+ acres in Karnataka, we continue to scout for more opportunities to serve this state’s and India’s economy.”