Welspun Enterprises Leases 4.5 Lakh Sq Ft Commercial Office Space in Pune's Hinjewadi
Welspun Enterprises Ltd has leased a massive 4.5 lakh sq ft of commercial office space in Radius IT Park in Pune's Hinjewadi for over ₹82 crore, according to property registration documents accessed by Propstack.
Key Highlights of the Lease Agreement
- Lease Period: 5 years, commencing on April 1, 2026, and expiring on March 31, 2031
- Space Leased: 3.29 lakh sq ft of carpet space and 4.57 lakh sq ft chargeable area
- Starting Monthly Rent: ₹1.25 crore
- Rent Escalation: Annual 5% escalation in the monthly rent
The transaction was registered on March 27, 2026, for which a stamp duty of ₹18 lakh and a registration fee of ₹500 were paid, the documents show.
Experts Weigh In on Pune's Commercial Real Estate Market
"Pune’s commercial real estate is currently witnessing a robust growth cycle, fundamentally anchored by the continued expansion and maturity of Global Capability Centres (GCCs)," said Raja Seetharaman, co-founder of Propstack.
"While East Pune, led by Kharadi, has recently secured mega-transactions from global leaders like Maersk and Citicorp, this 4.5 lakh sq ft. commitment by Welspun, alongside recent entrants like Arcelor Mittal in Hinjewadi, reinforces that the appetite for large-scale, high-quality Grade A space remains equally potent in the West," Seetharaman said.
Other Recent Leases in Pune's Commercial Real Estate Market
- Maersk leases about 2 lakh sq ft office space in Kharadi in Pune for ₹1.45 cr monthly rent
BMW has expanded its Pune footprint by leasing an additional 1.35 lakh sq ft logistics facility from ESR Pune Industrial Park Private Limited at a monthly rent of ₹53.19 lakh for a tenure of 7 years and 5 months.
Nice Interactive Solutions India Private Limited leased around 1.63 lakh sq ft of office space in Pune’s Hinjewadi area for a total rent of over ₹44 crore in November 2025.
US-based Mortgage Technology's Indian subsidiary, ICE MT India Private Limited, has leased 1.93 lakh sq ft of office space in Pune's Magarpatta Cyber City to set up its Global Capability Centre (GCC) for a total rent of ₹217 crore in December 2025.