Mahashian Di Hatti Private Ltd, popularly known as MDH has bought two industrial land in Gurgaon for Rs 120 crore, documents accessed by CRE Matrix, a real estate data analytics firm, shows.
Masala brand MDH was founded by Dharampal Gulati, who was famous as Mahashaya ji.
“It has bought 20,236 sq metre land in sector 18 Gurgaon for Rs 98 crore and another 1,000 sq metre land for Rs 22 crore in Udyog Vihar in Gurgaon,” said one person aware of the deal.
“Increased demand in space take-up by FMCG and the manufacturing player has been witnessed in the last two quarters against the backdrop of macro-economic recovery,” said Anshuman Magazine Chairman & CEO – India, South East Asia, Middle East & Africa, CBRE.
In Q3, Delhi-NCR region recorded the highest share of leasing activity in the Industrial and Logistics sector across all major cities in India.
“Overall leasing in Q3 grew by 40% Q-o-Q. The Industrial & Logistics sector is expected to grow by 12% on an annual basis, and the overall leasing is estimated to be in the range of about 28-32 million sq. ft. in 2022,” said Magazine.
MDH has offices in Dubai and London and exports to about 100 countries.
As a part of their expansion programme, MDH has established large fully automatic manufacturing plants at Delhi, Gurgaon (Haryana) 3 plants of spices, Papad and Export Unit, Nagaur (Rajasthan) 2 plants of Methi and spices and Sojat (Rajasthan).
Branches have been set up at Ghaziabad (U.P.) Amritsar and Ludhiana (Punjab)
India’s top 8 cities closed at least 68 land deals accounting for 1,656 acres in the first nine months of 2022, compared with 20 deals during the same period last year.
The proposed developments include residential, retail, mixed-use, commercial and warehousing.
Of the total land deals in 2022 (January-September), nearly 40 covering more than 590 acres were proposed for residential development, 147 acres for industrial and logistic parks and warehouses, 119 acres for data centres, 115 acres for mixed-use development and 26 acres for commercial development, among others.