AMAZON TIES UP with GMR Logistics Park

Amazon India has entered into an agreement with GMR Logistics Park Pvt. Ltd., as of August 19, 2021, to lease a 10 lakh sq. ft., of warehousing space for a period of 20 years, in Hyderabad, as revealed by Propstack. The chargeable area is 10.08 lakh sq. ft., and the starting rent is around

2 crore per month ( 20.15 per sq. ft.).

The lease starts from April 15, 2022, as per documents. As per the clause in the lease agreement, there will be a rental escalation of 15 per cent every three years. GMR Logistics Park Pvt. Ltd., is expected to hand over the first phase of the leaseable premises on April 15, 2022, and phase-II of the leaseable premises on September 1, 2022.