Zomato Hyperpure leases over 250k sq ft warehouse in Lodha Industrial Park

Zomato Hyperpure has leased a warehousing space with a built-up area of 253,421 square feet. The warehouse is located at Lodha Industrial and Logistics Park in Palava, part of the Mumbai metropolitan region (MMR).

 

The lease agreement is for five years, commencing on February 15, 2025.

 

Zomato Hyperpure, a business-to-business (B2B) platform for kitchen solutions set up by the restaurant aggregator Zomato, will pay a monthly rent of over Rs 85.3 lakh for the facility, with an annual rent escalation of 5 per cent. By the fifth year, the monthly rent will rise to Rs 1.04 crore. The company has already provided a security deposit equivalent to four months' rent.

 

The transaction was registered with the Ulhasnagar sub-registrar's office in Thane, incurring a stamp duty of Rs 14.73 lakh and a registration fee of Rs 1,000, according to registration documents provided by Propstack, a real estate data, analytics, and workflow solutions provider.

 

The Lodha Industrial and Logistics Park (LILP) is currently developing over 6.5 million square feet of warehousing and industrial parks across MMR, Chennai, and the Delhi National Capital Region (NCR). It plans to significantly scale up its operations in the next five years.

 

Warehousing demand and rents across India's top eight cities have surged, while the occupier base has diversified, according to property consultant Knight Frank India. Between January and September 2024, 37.5 million square feet of warehousing space was leased, marking a 4 per cent year-on-year (Y-o-Y) increase.

 

In the third quarter of 2024, average rents for warehouses across these cities rose by 2.5 per cent.