Indian tyre manufacturer MRF has leased a substantial warehousing space of 3.85 lakh sq ft in Sudvadi, Pune’s Mawal area. The long-term lease, spanning 10 years, is part of a strategic arrangement with NDR Tradehouse.
MRF, headquartered in Chennai, will pay an initial monthly rent of Rs 1.05 crore. The agreement includes a 4.5% annual rental escalation clause, ensuring gradual rent adjustments over time. MRF will incur common area maintenance charges of Rs 3.85 lakh per month. The transaction was registered on July 18, according to data from CRE Matrix.
The lease term comprises an initial five-year period, with an option to extend for another five years. A lock-in period of three years ensures both parties are committed to the lease for at least this duration. MRF has also secured an agreement for an additional 2 lakh sq ft of space within three years to accommodate future expansion. If NDR Tradehouse fails to provide this space, the lock-in clause will be void.
The rapid expansion of e-commerce, the implementation of the Goods and Services Tax (GST), and the growing demand for efficient supply chain management have driven significant growth in warehouse leasing in India. This trend is particularly evident in major metropolitan areas and emerging industrial hubs, where companies are keen to streamline logistics and enhance distribution networks.