Welspun Enterprises Leases 4.5 Lakh Sq Ft in Pune's Hinjewadi: A Boost for Commercial Real Estate
Welspun Enterprises Ltd has made a significant move in Pune's commercial real estate market by leasing 4.5 lakh sq ft of office space in Radius IT Park in Hinjewadi for over ₹82 crore. This transaction, according to property registration documents accessed by Propstack, underscores the ongoing growth and maturity of Global Capability Centres (GCCs) in the region.
The lease agreement is for a period of 5 years, commencing on April 1, 2026, and expiring on March 31, 2031. The space, leased from Indo Global Soft Solutions and Technologies Pvt Ltd, includes 3.29 lakh sq ft of carpet area and 4.57 lakh sq ft of chargeable area. The starting monthly rent is ₹1.25 crore, with an annual 5% escalation clause.
The transaction was registered on March 27, 2026, with a stamp duty of ₹18 lakh and a registration fee of ₹500. This move by Welspun Enterprises is not only a significant investment but also a strong indicator of the city's appeal for large-scale, high-quality Grade A office spaces.
Pune’s commercial real estate market is currently experiencing a robust growth cycle, driven by the expansion and maturity of GCCs. Raja Seetharaman, co-founder of Propstack, commented, “Pune’s commercial real estate is currently witnessing a robust growth cycle, fundamentally anchored by the continued expansion and maturity of Global Capability Centres (GCCs).”
While East Pune, particularly Kharadi, has recently seen mega-transactions from global leaders like Maersk and Citicorp, this 4.5 lakh sq ft commitment by Welspun in Hinjewadi, along with recent entrants like Arcelor Mittal, reinforces the strong demand for large-scale, high-quality office spaces in the West.
Recent transactions in the Pune real estate market highlight the city's attractiveness for both domestic and international companies. For instance, Maersk Global Service Centres (India) Pvt Ltd has leased 1.93 lakh sq ft of office space in Pune for 10 years at a monthly rent of ₹1.45 crore. Additionally, BMW has expanded its Pune footprint by leasing an additional 1.35 lakh sq ft logistics facility from ESR Pune Industrial Park Private Limited at a monthly rent of ₹53.19 lakh for a tenure of 7 years and 5 months.
In November 2025, Nice Interactive Solutions India Private Limited leased around 1.63 lakh sq ft of office space in Pune’s Hinjewadi area for a total rent of over ₹44 crore. US-based Mortgage Technology's Indian subsidiary, ICE MT India Private Limited, has also leased 1.93 lakh sq ft of office space in Pune's Magarpatta Cyber City to set up its Global Capability Centre (GCC) for a total rent of ₹217 crore. The space, leased from Axis Max Life Insurance Limited for nine years, spans the underground floor, lower ground floor, and seven floors from level one to level seven.
These transactions collectively indicate a robust and dynamic commercial real estate market in Pune, making it an attractive destination for businesses looking to establish or expand their operations in India.
