K Raheja Corp Subsidiary Leases Commercial Office Units to Eaton in Pune
K Raheja Corp's subsidiary, Asterope Properties, has leased three commercial office units in Pune's Baner area to Eaton Technologies for a 10-year term at a monthly rent of ₹1.65 crore.
Real EstateOffice LeasePuneK Raheja CorpEaton TechnologiesReal EstateAug 12, 2025
Documents show that the commercial office space measuring 1.50 lakh sq ft is located in Aditya Shagun Infinity IT Park in the Baner area of Pune. The transaction was registered on August 3, 2025, for which a stamp duty of ₹1.34 crore and a registration fee of ₹1,000 were paid.
The 10-year lease includes a five-year lock-in period and an annual rent escalation of 4.5%. Documents indicate a security deposit of ₹9.90 crore. The lease will commence in three phases - July 15, 2025 (first phase), December 1, 2025 (second phase), and January 15, 2026 (third phase).
An email query sent to Asterope Properties Pvt Ltd did not receive a response, and Eaton Technologies Pvt Ltd could not be reached for comment. The story will be updated if a response is received.
India’s office stock is set to cross 1 billion sq ft by Q3 2025, positioning it as the fourth-largest office market globally, according to a report by Knight Frank India. This milestone reflects the sector’s rapid expansion from under 200 million sq ft in the early 2000s, driven by India’s status as an affordable ‘sub-dollar’ rental market in the global context, alongside sustained economic growth, rising institutional investment, and strong resilience in global office demand, the report said.
Bengaluru, NCR, and MMR together account for 60% of India’s total office stock, while Hyderabad, Pune, and Chennai contribute another 33%. The remaining 7% is concentrated in Ahmedabad and Kolkata, highlighting the urban-centric nature of India’s office market expansion, the report said.
Frequently Asked Questions
What is the total area of the leased office space?
The total area of the leased office space is 1.50 lakh sq ft.
How long is the lease term?
The lease term is 10 years, with a five-year lock-in period.
What is the monthly rent for the leased office units?
The monthly rent for the leased office units is ₹1.65 crore.
Who are the parties involved in this lease agreement?
The parties involved in this lease agreement are Asterope Properties Pvt Ltd (a subsidiary of K Raheja Corp) and Eaton Technologies Pvt Ltd (a subsidiary of Eaton Corporation).
When will the lease commence?
The lease will commence in three phases: July 15, 2025 (first phase), December 1, 2025 (second phase), and January 15, 2026 (third phase).
Related News Articles
Mumbai's Sky-High Ambitions: Exploring the City's Love for Skyscrapers
As Mumbai continues to grow
Mumbai Records Third-Highest Surge in Luxury Housing Prices Globally
Mumbai's prime residential prices surge 11.5% year-on-year, ranking third globally, as India's economic growth drives demand in luxury housing market.
Affordable Housing Supply Dries Up as Builders Focus on Premium Projects
The latest data from JLL India reveals a 21% decline in affordable housing supply below Rs 50 lakh, while premium projects saw a significant surge in demand.
Priyanka Chopra's Real Estate Empire: A Peek into Her Investments
Priyanka Chopra Jonas is a keen investor in the real estate space, owning multiple properties in India and the US. Here's a look at her recent transactions.
Uber and Heads Up for Tails Expand Pet-Friendly Rides in Delhi and Mumbai
Uber has partnered with Heads Up for Tails to offer pet-friendly rides in Delhi and Mumbai, making travel more convenient and comfortable for pet owners.
Blackstone and Sattva-backed REIT Files Draft Papers for ₹7000 Cr IPO
A real estate investment trust (REIT) backed by asset manager Blackstone Group and Bengaluru developer Sattva Group has filed its draft papers with the Securities and Exchange Board of India (SEBI) for a ₹7000 crore initial public offering (IPO).