India, Oct. 31 -- FM India Supply Chain Private Limited, a logistics firm, has leased 1.31 lakh sq ft of industrial space at Lodha Industrial Park in Palava City, Thane district, near Mumbai, for five years at a total rent of over Rs.33 crore, according to property registration documents accessed by CRE Matrix.

The property is owned by Palava Induslogic 4 Private Limited, a subsidiary of Lodha Developers, it showed.

The lease agreement specifies a starting monthly rent of Rs.50.37 lakh and a security deposit of Rs.2.65 crore. It also includes a clause for annual rental escalation.

The per-square-foot rent of the leased property translates to approximately Rs.31.60 per square foot per month, as per the documents.

The transaction was re...