Awfis Space Solutions Leases 197,000 Sq Ft Office Space in Pune's Kharadi
Awfis Space Solutions, a leading flexible office provider, has secured a 197,000 sq ft office space in Pune’s Kharadi through a long-term lease agreement. The facility spans 17 floors and will cater to the growing demand for hybrid workspaces.
Awfis Space SolutionsFlexible Office SpaceCommercial Real EstatePuneKharadiReal Estate PuneJan 10, 2025
The lease agreement is for a period of more than five years, reflecting the company's commitment to meeting the evolving needs of businesses in the region.
During the initial fit-out period of three months starting from January 1, Awfis will pay a rental of Rs 18 per sq ft per month.
Post the fit-out period, the lease rentals will be based on a profit-sharing and minimum guarantee agreement between Awfis and the project's developer.
Awfis has also paid a security deposit of Rs 8.87 crore, as per documents accessed through the realty data analytics platform CRE Matrix.
The transaction was registered on December 30.
In addition to the lease rentals, Awfis will be paying Rs 4 per sq ft of carpet area per month for common area maintenance charges.
The entire leased space spans across 17 floors of the commercial tower, making it a significant addition to Awfis's portfolio.
Despite reaching out to Awfis Space Solutions for further details, the company did not respond to ET's email query before the publication of this article.
Over the last two years, the demand for flexible office spaces in India has surged, driven by changing work patterns and economic uncertainties.
Businesses, particularly startups and Small and Medium Enterprises (SMEs), have increasingly prioritized agility and flexibility over long-term commitments.
The rise of hybrid work models has further fueled the demand for short-term, customizable leases.
Major cities such as Bengaluru, Mumbai, and Delhi-NCR have seen rapid growth in the number of flexible workspace providers, offering tailored solutions for various team sizes.
Awfis Space Solutions, with its robust network of flexible workspaces, is well-positioned to capture this growing market.
The company’s strategic expansion in Pune’s Kharadi highlights its commitment to providing top-notch, flexible office solutions to businesses of all sizes.
As the hybrid work model continues to gain traction, the demand for flexible office spaces is expected to remain strong.
Awfis’s latest acquisition in Pune is a testament to the company’s adaptability and forward-thinking approach in the evolving commercial real estate landscape.
Frequently Asked Questions
What is the total leased office space that Awfis Space Solutions has secured in Pune's Kharadi?
Awfis Space Solutions has secured a total of 197,000 sq ft of office space in a commercial complex in Pune’s Kharadi.
For how long is the lease agreement between Awfis Space Solutions and the developer?
The lease agreement is for a period of more than five years.
What is the rental rate during the initial fit-out period?
The rental rate during the initial fit-out period of three months is Rs 18 per sq ft per month.
What is the security deposit amount paid by Awfis Space Solutions?
Awfis Space Solutions has paid a security deposit of Rs 8.87 crore.
How many floors does the leased office space span across?
The leased office space spans across a total of 17 floors in the commercial tower.
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