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).
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