IndoSpace, backed by the Everstone Group, is set to invest over ₹580 crore in developing two logistics parks across 76 acres in Karnataka. This investment follows a memorandum of understanding (MoU) with the state government and aims to enhance the region’s logistics infrastructure. The parks will cover a total development area of 1.8 million sq. ft., targeting sectors such as automobiles, engineering, electronics, and third-party logistics (3PL).
The IndoSpace Nelamangala-II park, located along the Bengaluru-Mumbai highway (NH48), will span 35 acres with a ₹240 crore investment. The IndoSpace Narasapura-II park, situated off Old Madras Road (NH75) near key industrial areas, will cover 40 acres with a ₹340 crore investment. Development for both parks will start this year, with operations expected to begin within two to three years.
This initiative is part of IndoSpace’s seven-year agreement with the Karnataka government, which includes a commitment to invest ₹3,000 crore in the state’s warehousing and logistics sector, potentially creating 14,000 jobs. IndoSpace already operates three logistics parks in Karnataka: Nelamangala-I (16 acres), Bommasandra (5.4 acres), and Narasapura-I (64 acres).
The new parks are expected to bolster Karnataka’s position as a key logistics hub, providing modern facilities and infrastructure to support the growing demands of various industries. The expansion aligns with the state’s vision to enhance its logistics capabilities and drive economic growth through improved connectivity and operational efficiency.
