Chennai-based Avigna Group's Avigna Industrial & Logistics Park declared it has launched a 4 million sq. ft warehousing provision in Hoskote, Karnataka, and will invest ₹500 crore- ₹600 crores.
Avigna projects to hand over the first million sq. ft at the Hoskote Industrial Park in 2022-23. Recently, the company leased out its first 1 million sq. ft space of industrial warehouse at Hosur Park in Tamil Nadu to multiple brands like Whirlpool, Wakefit, and Stellar Value Chain.
Abhijit Verma, the executive director, and chief executive officer of Avigna Group, stated, "We are delighted to announce that the construction of the industrial warehouse has begun after the laying of the foundation stone at Hoskote, Karnataka. Such a development will fill a gap in the demand for modern, state-of-the-art warehousing and logistics facilities in India for which we are already in discussion with multiple clients".
The project is a part of Avigna Group's ₹2,000 crore expansion plan to have a track of 10 million sq. ft warehouse space over the succeeding three years in Karnataka.
Besides warehouses in Hosur, Chennai, and Nellore (Andhra Pradesh), Avigna also secures its occupancy in Bhiwandi and Jaipur in the west, Farrukhnagar in the north, and Patna, Guwahati, and Kolkata in the east, among other locations.
On Thursday, Indospace, Everstone Group's industrial and logistics real estate development platform, announced it had propelled a new industrial park in Narasapura, near Bengaluru.
The park is on a 64-acre parcel near National Highway 75, Narasapura industrial area. It is well-connected to consumption hubs across central, east, and northeast Bengaluru. Strategically, it is also placed to offer connectivity to Chennai, Tirupati, and the Hoskote-Malur industrial area.