Adani Logistics Ltd leases 66,250 sq ft warehousing space near Mumbai to DMart in 28-year deal worth over ₹100 crore

Adani Logistics Ltd has leased a warehousing space to DMart in Panvel, near Mumbai, for a total rent of more than ₹100 crore for nearly 28 years

Adani Logistics Ltd, the logistics and warehousing arm of the Adani Group, has leased 66,250 sq ft of warehousing space to DMart (Avenue Supermarts Limited) at Dharna Camp in Raigad district, near Mumbai, for a total rent exceeding ₹100 crore for nearly 28 years, according to property registration documents accessed by CRE Matrix.

Adani Logistics Ltd has subleased 66,250 sq ft of warehousing space to DMart at Dharna Camp in Raigad district, near Mumbai, for a total rent exceeding ₹100 crore over nearly 28 years (Photo for representational purposes only) (Pexels)

DMart has taken on lease the warehousing space from Adani Logistics Ltd in Panvel at a starting monthly rent of ₹20.20 lakh, along with a security deposit of ₹1.21 crore, as per the documents.

The warehouse, measuring 66,250 square feet, is leased for a period of 28 years, along with a six-year lock-in period. The agreement registered on December 24, 2025, includes a rent escalation of 12% every three years, the documents showed.

A stamp duty of ₹57.11 lakh and a registration fee of ₹30,000 were paid for the registration of the transaction, as per the documents.

The agreement mentions that DMart has leased the warehouse space for storage and distribution of furniture, fixtures, groceries, masala, dry fruits, nuts, raisins, vegetables, fruits, oil, ghee, butter, fast-moving consumer goods, electronic home appliances, garments, footwear, luggage, pesticides, among several other items.

The built-up area of the warehouse is 66,250 sq ft, and the carpet area is 53,000 sq ft. The warehouse is built on a plot measuring 55,697 sq m, the documents showed.

Under the agreement, the monthly rent begins at over ₹20 lakh and rises to more than ₹56 lakh by the 28th year of the lease.

Email queries have been sent to Adani Logistics Ltd and Avenue Supermart. The story will be updated if a response is received.

The deal underscores the growing importance of the Panvel–Raigad belt as a strategic logistics hub. The region continues to attract large-scale warehousing and logistics investments due to its proximity to Mumbai, which makes it operationally efficient for retailers and distributors. Improved road connectivity, port access, and the recently commissioned Navi Mumbai International Airport have further enhanced the area’s appeal, positioning it as a preferred destination for large-format retailers and logistics operators, according to CRE Matrix.

The leased facility has a built-up area of 66,250 sq ft and, with this transaction, DMart strengthens its backend supply chain infrastructure close to Mumbai, according to CRE Matrix.

Warehousing transactions

Notable warehouse transactions in the Mumbai Metropolitan Region (MMR) have included DHL Supply Chain India Pvt Ltd, which had leased 4.17 lakh sq ft of warehouse space in Bhiwandi, near Mumbai, for over ₹32 crore, according to property registration documents accessed by CRE Matrix.

The transaction was registered in November 2025, and the property is located in a building named One Samruddhi Park, Bhiwandi, near the starting point of the 700 km-long Mumbai-Nagpur Samruddhi Expressway, according to the documents.

In the same area, Zomato Hyperpure Private Limited, the B2B supply arm of food delivery platform Zomato, leased a large warehouse space measuring 5.53 lakh sq ft in Bhiwandi, for approximately ₹1.7 crore per month, according to documents accessed by CRE Matrix.

Furthermore, in May 2025, Elon Musk's Tesla India Motor and Energy Pvt Ltd leased 24,565 sq ft of warehouse space at Lodha Logistics Park in Mumbai’s Kurla area for a total rent of ₹24.38 crore over a five-year period, according to property registration documents accessed by CRE Matrix.

India’s Industrial & Logistics sector continued its strong post-pandemic growth trajectory in 2025, recording its highest-ever annual absorption of 76.5 million sq. ft., marking an 18.6% year-on-year increase, according to data released by international real estate advisory firm Savills India.

Backed by proactive government policies, the manufacturing segment has continued to be the strongest demand driver, accounting for 22 million sq. ft. (29%) of total absorption in 2025, up from 22% in 2024. This is followed by sustained demand from the 3PL segment with a 28% overall contribution, FMCG with 11% and retail with 6%. The E-Commerce sector has rebounded after years of reduced activity, with its contribution rising from 4% in 2023 to 12% in 2025, it noted.