MUMBAI: Welspun Enterprises Ltd has leased over 450,000 sq ft of office space in Pune’s prominent IT area, Hinjewadi, marking one of the largest office deals in the city this year.
The space, located at Radius IT Park, part of the Hinjewadi IT Park cluster, has been acquired from Indo Global Soft Solutions & Technologies under a fresh lease agreement that began on April 1.
The lease encompasses approximately 457,500 sq ft of chargeable area and over 329,000 sq ft of carpet area, distributed across eight floors of the commercial space, according to documents obtained from Propstack. The agreement commences with a rental rate of ₹27.5 per sq ft per month, resulting in a monthly expense exceeding ₹1.25 crore.
This five-year lease includes an annual escalation clause of 5%, reflecting optimistic rental growth expectations in Pune’s Grade-A office market.
Hinjewadi, one of India’s largest IT corridors, continues to draw companies from various sectors due to its established ecosystem, availability of talent, and competitive rental rates compared to major markets like Bengaluru and Mumbai.
This micro-market has consistently attracted technology firms, global capability centers, and increasingly, infrastructure and engineering companies.
RealtyDailyNews’s email inquiry to Welspun Enterprises went unanswered by the time of publication.
This transaction highlights the ongoing demand for large, contiguous office spaces, particularly in established business districts with strong infrastructure. Industry experts indicate that companies are prioritizing scale, campus-style settings, and long-term leases as workplace strategies evolve.
Pune has emerged as a significant office market in recent years due to its robust talent pool and cost advantages, with Hinjewadi accounting for a substantial portion of leasing activity. The Welspun deal adds to a series of large transactions in the corridor, reinforcing its status as a top choice for companies seeking to expand beyond traditional metro areas.
