Allcargo group company acquires two land parcels in Gurgaon for Rs 231 crore
TransIndia Real Estate Limited, an Allcargo Group company, has acquired two land parcels for warehousing with a combined value of Rs 231 crore in Gurgaon’s Farukh Nagar, two people aware of the deal said.
Both land parcels are located in the Model Economic Township (MET) of Reliance Industries.
The first property piece, measuring 56.52 acres, was purchased for Rs 134 crore by Allcargo Inland Park pvt Ltd, and the second, measuring 41.06 acres, was purchased by Jhajjar Warehousing pvt Ltd for Rs 97.5 crore, as per documents accessed by analytic firm CRE Matrix.
Both companies are subsidiaries of TransIndia Real Estate Limited.
The land acquisition is part of our strategy to expand our footprint in strategically located Grade A logistics parks with world-class amenities.
The recent land acquisitions will enable us to develop warehousing and other logistics infrastructure in Farukhnagar, a strategic gateway to North India, with convenient access," said Jatin Chokshi, MD TREL.
Allcargo has developed 5.5 million square feet of Grade A logistics parks in key locations, including NCR Delhi, Bengaluru, Hyderabad, and JNPT in MMR Mumbai.
The global logistics conglomerate has just completed the sale of a portion of its logistics parks portfolio to Blackstone Group, a global private equity investor.
This transaction involves the transfer of assets in Bengaluru, Hyderabad, and Goa, while the NCR, Hosur, and MMR regions will remain under the company's ownership.
Following the demerger, the new real estate company also has plans for additional projects totaling about 8.6 million square feet, which it is pursuing on its own balance sheet.
“Indian economy is growing at breakneck speed.
