Lodha plans 150-acre industrial housing park in Mumbai

The country's one of the largest real estate firms, Lodha Group, has entered into the warehousing space with a 150-acre facility in Palava to diversify revenue streams, Regional CEO, Shaishav Dharia, said, claiming that land for the industrial housing park has been identified and awaiting approvals. The company is also in talks with three operators for a joint venture for a Grade A warehousing industrial park. Palava's proximity to both the Jawaharlal Nehru Port (JNPT) and the upcoming Navi Mumbai airport makes it an ideal warehousing location for corporate. The proximity to critical aspects of logistics and the fact that the land is title free makes it attractive for companies. Palava is a 4,500-acre green field smart city in the Kalyan-Dombivli region being developed and managed by the Lodha Group. One is to build an economy within Palava and create jobs. Secondly, there is a clear shortage of Grade-A warehousing space in Mumbai Metropolitan Region and the company is keen to exploit this to the hilt, he added.