Indospace Acquires 135 Acres in Gurugram For Logistics Park

Warehouse and logistics park developer IndoSpace, the real estate arm of Everstone Group, is in talks to acquire a 135 acre land parcel in Gurgaon for Rs 280 crore. The land parcel, along national highway 8, belongs to Gurgaon-based developer Uppal Group and several other partners who own stake in it. “The land parcel is located right in the middle of the upcoming Delhi-Mumbai expressway. Ideally, the land is suitable not just for warehousing but also for integrated industrial township to promote walk to work,” said Anckur Srivasttava, chairman of GenReal Property Advisers, a real estate advisory firm. Everstone Group, which has 35 logistics and industrial parks, is looking to expand its presence in North India.