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.
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