Smartworks Expands Pune Presence with Massive 6.13 Lakh Sq Ft Lease
Smartworks has leased a massive 6.13 lakh sq ft office space in Pune for a starting rent of ₹4.44 crore per month. The company has expanded its Pune portfolio, adding over 6 lakh sq ft of prime office space.
SmartworksPuneOffice SpaceLeaseRentCommercial Real EstateManaged WorkspaceReal Estate PuneAug 21, 2024
The leased space comprises 4th to 18th floors of the 43EQ building located in Balewadi. The floors from the fourth to the eighth floor have been leased for a monthly rent of ₹1.49 crore for which a security deposit of ₹4.40 crore has been paid. The total area is 2.05 sq ft. These floors come with 178 four-wheeler parking spaces and 520 two-wheeler parking spaces.
The rent for the nine to the 13th floors is ₹1.46 crore per month and the security deposit paid amounts to ₹4.40 crore. The total area leased is 2.01 lakh sq ft. These floors have been provided with 175 four-wheeler parking spaces and 511 two-wheeler parking spaces.
Floors from the 14th to the 18th floors will be charged a monthly rent of ₹1.49 crore. A security deposit of ₹4.40 crore has been paid towards the lease of these floors. The total area leased is 2.05 lakh sq ft and these come with 178 four-wheeler parking spaces and 521 two-wheeler parking spaces.
The starting rent of ₹73 per sq ft per month has a 4.77% escalation built in every annum.
Smartworks has a presence in 13 cities and a portfolio comprising more than 39 centres spanning over 8 million sq ft. The company caters to sector-agnostic large organizations, including Forbes 2000 and Fortune 500, as well as unicorns and soonicorns, serving over 550 clients.
Recently, the company filed its preliminary papers with markets regulator Securities and Exchange Board of India to mobilise funds through an initial public offering (IPO). With this, Smartworks aims to raise ₹550 crore from fresh issue.
Information
Smartworks is a leading managed workspace platform that provides flexible and customized office spaces to large organizations, unicorns, and soonicorns. The company has a presence in 13 cities across India and has a portfolio of over 8 million sq ft. Smartworks is a managed workspace platform that provides flexible and customized office spaces to large organizations, unicorns, and soonicorns. The company has a presence in 13 cities across India and has a portfolio of over 8 million sq ft.
Frequently Asked Questions
How much office space has Smartworks leased in Pune?
Smartworks has leased 6.13 lakh sq ft office space in Pune.
What is the starting rent of the leased space?
The starting rent of the leased space is ₹4.44 crore per month.
How many floors have been leased by Smartworks?
Smartworks has leased floors from 4th to 18th floors of the 43EQ building.
What is the total area of the leased space?
The total area of the leased space is 6.13 lakh sq ft.
How many clients does Smartworks serve?
Smartworks serves over 550 clients across various sectors.
Related News Articles
Mumbai Residential Market on a Bull Run: Prices Soar 20.4% in Two Years
The average residential rates in Mumbai have increased 6.5% quarter-on-quarter to reach INR 26,780 per square foot, driven by sustained demand and limited supply.
Revolutionizing Railway Security: Matrix Unveils Cutting-Edge Solutions at Rail Tech Conclave 2024
Matrix showcases its advanced security products and solutions, including FACE recognition technology, fingerprint readers, and network cameras, tailored for Railway and Metro systems.
Kuwait’s Real Estate Sector Slumps as Interest Rates Rise
According to the latest Financial Stability Report from the Central Bank of Kuwait, the nation's real estate market is experiencing a significant decline in 2023, primarily due to the surge in interest rates.
Swastik - A Luxurious Wellbeing Retreat Opens in Pune
Swastik, a luxurious wellbeing sanctuary, has recently opened its doors in Pune. Spanning 51 acres, this retreat by the renowned real-estate developer Nyati Group, aims to offer a unique and holistic path to wellness and relaxation.
NAR India Teams Up with UCO to Transform the Indian Real Estate Market with National MLS Initiative
New Delhi [India], NAR India has announced a groundbreaking partnership with UCO to launch a National MLS (Multiple Listing Service) platform, set to revolutionize the Indian real estate industry. This collaboration aims to bring transparency, efficiency,
Revolutionizing Fractional Real Estate Risk Assessment with Deep Learning and Fog Computing
Explore how Girish Wali's cutting-edge model uses deep learning and fog computing to transform risk assessment in fractional real estate investments, providing more accurate and dynamic evaluations.