IndoSpace, a leading industrial and logistics real estate developer, has announced plans to develop two significant logistics parks in Karnataka with a combined investment of ₹580 crore. This initiative is part of a broader ₹3,000 crore commitment made under a Memorandum of Understanding (MoU) with the Government of Karnataka in 2022.
The two new parks, IndoSpace Nelamangala II and IndoSpace Narasapura II, will collectively span over 75 acres, catering to a wide range of industries including automobiles, engineering, electronics, and third-party logistics (3PL) operators. The Nelamangala II park, situated along the Bengaluru-Mumbai highway (NH48), will cover 35 acres with an investment of ₹240 crore. The Narasapura II park, located off Old Madras Road (NH 75) and close to key industrial hubs such as Vemgal, Malur, and Hoskote, will span more than 40 acres with an investment of ₹340 crore.
IndoSpace’s expansion in Karnataka underscores its commitment to supporting the state’s industrial growth. These new developments will add to the company’s existing portfolio in Karnataka, which already includes three operational logistics parks: IndoSpace Nelamangala I, IndoSpace Bommasandra, and Narasapura I. Together, these parks provide critical infrastructure to support the logistics needs of various industries across the region.
Backed by the Everstone Group, IndoSpace boasts a network of 52 logistics parks across 11 cities in India, with a total footprint of 58 million square feet, either delivered or under development. This latest expansion reinforces IndoSpace’s position as a key player in India’s logistics and industrial real estate sector.