India, Oct. 2 -- DHL Logistics Private Limited has renewed its lease for 3.17 lakh sq ft of warehousing space in Panvel, near Mumbai, from Ascendas Panvel FTWZ Private Limited (CapitaLand) for five years, at a rent of Rs.1.80 crore per month, according to documents accessed by Propstack.

Located near the upcoming airport, Panvel is increasingly becoming a key logistics hub.

The logistics and supply chain giant has renewed its lease at the Ascent Free Trade and Warehousing Zone, developed by Ascendas Panvel FTWZ, part of the CapitaLand Group. The lease, starting August 1, 2024, is at a rent of Rs.56.70 per sq ft per month, according to the documents.

The lease comes with a 5% escalation from June 2025, they showed.

The company has depo...