Pune Real Estate Market Sees Significant Deals: MRF Leases Massive Warehouse Space
MRF leases 3.85 lakh sq ft warehousing space in Pune at a monthly rent of ₹1.04 crore, contributing to the growing real estate market in the city.
Pune Real EstateMrfNdr Tradehouse Pvt LtdCre MatrixMacrotech DevelopersReal Estate NewsJul 29, 2024
The property has been leased by NDR Tradehouse Pvt Ltd, according to the documents accessed by CRE Matrix. Despite an email query, neither MRF nor NDR Tradehouse Pvt Ltd responded to requests for comment.
Pune's real estate market is thriving, driven in part by the presence of several automobile manufacturing units and ancillary materials required for the manufacturing process. This deal follows other significant transactions in the region, including Bajaj Auto's leasing of 7.63 lakh square meters of land from Maharashtra Industrial Development Corporation (MIDC) in Chakan, near Pune, for ₹53.43 crore. In another deal, Finolex Industries sold its leasehold rights of 25 acres of land for ₹470 crore to Terravista Developers Pvt Ltd in Pimpri near Pune.
The city has also seen a surge in high-end property deals, with a 12,000 sq ft penthouse being sold in Pune for ₹37 crore, making it the most expensive property deal in the city. The property is located in Lodha One, Bund Garden, a project by listed real estate developer Macrotech Developers.
Information
MRF is a leading Indian tyre manufacturer, founded in 1946 and headquartered in Chennai. The company produces a range of tyres for passenger vehicles, trucks, buses, and motorcycles.
NDR Tradehouse Pvt Ltd is a private limited company, involved in real estate development and management.
CRE Matrix is a leading real estate data analytics firm, providing insights and information on property transactions and trends.
Macrotech Developers, formerly known as Lodha Developers, is a leading Indian real estate developer, founded in 1980 and headquartered in Mumbai. The company has developed several residential and commercial projects across India and the UK.
Frequently Asked Questions
How much is the monthly rent for MRF's leased warehousing space?
The monthly rent is ₹1.04 crore.
Who is the lessor of the warehousing space leased by MRF?
NDR Tradehouse Pvt Ltd is the lessor of the warehousing space.
What is the lock-in period for the lease agreement?
The lock-in period is three years.
What is the annual rental escalation clause built into the lease agreement?
The annual rental escalation clause is 4.5%.
What is the most expensive property deal in Pune?
A 12,000 sq ft penthouse sold in Pune for ₹37 crore is the most expensive property deal in the city.
Related News Articles
GST Council Revamps 3 Key Groups of Ministers with 11 New State Ministers Onboard
The GST Council is set to reconstitute three crucial Groups of Ministers (GoMs) following the induction of 11 new state ministers, including those from Andhra Pradesh, Bihar, and Odisha.
Affordable Housing in India: Struggling to Survive Amid Luxury Boom
Mumbai and Bengaluru lead supply in the luxury housing segment, while the mid (₹50 lakh - 1 crore) and affordable housing (under ₹50 lakh) segments see a year-on-year decline.
Godrej and Macrotech Realtors Achieve Stellar Sales of Over Rs 22,000 Crore in H1 2024
Two of India's leading real estate firms, Godrej Properties and Macrotech Developers, have reported combined sales bookings of Rs 22,120 crore during April-September 2024, marking a 56% year-on-year growth. The majority of these sales were in housing unit
Baba Siddique: The Man Who Bridged Bollywood and Mumbai's Real Estate
Baba Siddique's influence in Mumbai's political and social circles extended far beyond his role as an MLA for Bandra West. His connections with Bollywood and the real estate lobby made him a powerful figure in the city's power corridors.
Congress Announces Third List of 16 Candidates for Maharashtra Assembly Elections
The Congress party has unveiled its third list of 16 candidates for the upcoming Maharashtra Assembly elections, including notable names like Sachin Sawant and Manikrao Thakare.
Housing Prices in MMR Experience a 4% Year-on-Year Rise
The real estate market in the Mumbai Metropolitan Region (MMR) continues to witness a steady increase, with housing prices rising by 4% year-on-year. This uptrend reflects the growing aspirational demand for property in the region, particularly in Mumbai