Mahindra Lifespaces, Actis Joint Venture in Chennai: A Strategic Move in Logistics

The strategic alliance between Mahindra Lifespaces and Actis has culminated in the formation of Ample Parks, a joint venture aimed at revolutionizing the industrial and logistics real estate sector in India. Under the leadership of CEO Akash Rastogi, Ample Parks is poised to make significant strides in this burgeoning market. The venture aims to acquire and develop 1.5 million square meters of land in key Indian markets, positioning itself as a leading provider of industrial and logistics real estate solutions. This ambitious target underscores the joint venture’s commitment to leveraging their combined expertise to meet the growing demand for high-quality industrial spaces in India.

The first acquisition under this joint venture is a 70-acre industrial land parcel in Mahindra World City, Chennai. This strategically located land will be developed into an integrated industrial and logistics park, featuring state-of-the-art facilities designed to attract top-tier industrial occupiers. The location offers excellent infrastructure, accessibility, and a skilled workforce, making it an ideal choice for businesses looking to establish or expand their operations in India. This project is expected to set a new benchmark in industrial and logistics real estate development, offering both plug-and-play and built-to-suit options for customers.

Mahindra World City, Chennai, is India’s first integrated business city, providing a self-contained ecosystem with excellent road, rail, and port connectivity. This makes it a prime location for industrial and logistics developments. Amit Sinha, Managing Director and CEO of Mahindra Lifespaces, believes that this project marks a significant milestone in their commitment to developing sustainable industrial infrastructure. The partnership between Actis and Mahindra Lifespaces combines global expertise with a deep understanding of the Indian market, ensuring that the project will meet the highest standards of quality and sustainability.

The project will offer approximately 2 million square feet of grade A industrial development, with a focus on sustainability. The aim is to minimize environmental impact while enabling businesses to operate efficiently. This aligns with the broader trend of decentralizing manufacturing from China and the Indian government’s initiatives to promote domestic manufacturing through schemes like ‘Make in India’ and the ‘Production Linked Incentive Scheme’. These factors make India a promising market for industrial and logistics prospects, and Ample Parks is well-positioned to capitalize on these opportunities.

Ample Parks is committed to delivering excellence in every aspect of their projects. The management team, led by Akash Rastogi, brings a wealth of experience and expertise to the table. This ensures that the projects will be executed to the highest standards, meeting the needs of businesses and contributing to the development of India’s industrial infrastructure. Raghvendra Chandak, Director at Actis, views this as a great first step in developing a strategic location in Chennai’s thriving industrial ecosystem. The goal is for Ample Parks to become a leading provider of industrial and warehousing space in India, offering tailored solutions for customers and supply chain operators.

Actis holds the majority stake in the joint venture, with Mahindra Lifespaces owning a significant minority stake. This partnership allows Ample Parks to benefit from Actis’ global network and real estate expertise, as well as Mahindra Lifespaces’ access to prime land parcels and key stakeholders in the Indian market. This synergy between the two companies will enable Ample Parks to deliver world-class industrial and logistics facilities that meet the evolving needs of businesses in India.

The industrial and logistics market in India is a high-growth real estate asset class, driven by rising consumer demand and the realignment of global supply chains. Actis has invested and committed approximately $1.7 billion to real estate in Asia since its inception, reflecting its confidence in the region’s growth potential. The launch of Ample Parks and their projects in India are expected to play a pivotal role in building and strengthening India’s industrial infrastructure, creating new opportunities for businesses and contributing to the country’s economic growth.

Mahindra Lifespaces has also received approval to develop an additional 104 acres in their Mahindra World City project near Chennai. The Ministry of Commerce and Industry has given the go-ahead for the partial denotification of 42.073 hectares of land for commercial and residential use. This move enables Mahindra Lifespaces to meet the increasing market demand and launch new projects in Chennai and Jaipur in the coming year. The company aims to generate a gross development value of INR 45,000 crore from residential projects alone, reflecting strong investor confidence and the growing demand for high-quality real estate in India.

Mahindra World City offers multiple locations in international and domestic markets for development, with a presence in over 25 cities across India. The Ministry’s decision to partially denotify the land will allow for better utilization and development potential, enabling Mahindra Lifespaces to leverage its brand and expertise in project development and management. The company’s goal is to create sustainable and high-quality integrated cities that cater to the needs of its residents, providing a variety of options for individuals and businesses looking to invest in real estate in the area.

The joint venture between Actis and Mahindra Lifespaces seeks to create sustainable and world-class industrial infrastructure in India. With a focus on sustainability, efficiency, and growth, Ample Parks aims to be a leading player in India’s industrial and logistics real estate sector. The partnership combines Actis’ global expertise and investment acumen with Mahindra Lifespaces’ deep understanding of the Indian market and access to prime land parcels. This synergy will enable Ample Parks to deliver high-quality industrial and logistics facilities that meet the evolving needs of businesses and contribute to the development of India’s industrial landscape.

The project in Chennai is strategically located in India’s first integrated business city, offering excellent connectivity and social infrastructure. This makes it an ideal location for businesses looking to establish or expand their operations in India. The project will cater to the evolving needs of businesses through its state-of-the-art facilities, providing a range of options from plug-and-play to bespoke built-to-suit solutions. This flexibility will enable businesses to operate efficiently and sustainably, contributing to the overall growth and development of India’s industrial and logistics sector.

The ongoing decentralization of manufacturing from China, along with government initiatives like ‘Make in India’ and the ‘Production Linked Incentive Scheme’, makes India a promising market for industrial and logistics prospects. Ample Parks is well-positioned to capitalize on these opportunities, with a highly experienced management team and a strategic partnership between Actis and Mahindra Lifespaces. The joint venture aims to acquire and develop 1.5 million square meters of land in key markets across India, establishing itself as a leading provider of industrial and logistics real estate solutions. This ambitious target reflects the joint venture’s commitment to leveraging their combined expertise to meet the growing demand for high-quality industrial spaces in India.

Overall, the launch of Ample Parks and their projects in India are expected to play a pivotal role in building and strengthening India’s industrial infrastructure. The partnership between Actis and Mahindra Lifespaces combines global expertise with a deep understanding of the Indian market, ensuring that the projects will meet the highest standards of quality and sustainability. With a focus on sustainability, efficiency, and growth, Ample Parks aims to be a leading player in India’s industrial and logistics real estate sector, contributing to the overall growth and development of the country’s economy.