Welspun Enterprises Secures 4.5 Lakh Sq Ft Office Space in Pune's Hinjewadi
Welspun Enterprises has secured a substantial 4.5 lakh sq ft of office space in Hinjewadi, Pune, through a long-term agreement. This transaction ranks among the larger commercial office deals in the city, according to property registration data and market disclosures released earlier this week.
The office space has been taken at a Grade A development within the Hinjewadi IT cluster, with the lease structured for a five-year term commencing earlier this month and extending until the end of the decade. The total rental outgo for the duration of the lease is estimated to exceed INR 82 crore.
The transaction covers approximately 3.29 lakh sq ft of carpet area and about 4.57 lakh sq ft of chargeable space. The starting monthly rent is reported at around INR 1.25 crore, with an annual escalation clause of 5 per cent built into the agreement. This reflects the prevailing leasing structures in institutional-grade commercial assets.
The space has been leased from Indo Global Soft Solutions and Technologies Pvt Ltd and is located within Radius IT Park, a part of the Hinjewadi IT hub. This area continues to attract large occupiers due to its established infrastructure and connectivity to key residential and commercial zones.
The deal highlights the continued demand for large-format office spaces in Pune, particularly in the western corridor led by Hinjewadi. The micro-market has remained a preferred destination for both domestic occupiers and multinational firms, supported by its mature ecosystem of IT parks, talent availability, and connectivity to key urban nodes.
Industry data indicates that Pune’s office market has been witnessing sustained leasing activity, with multiple large transactions recorded across both eastern and western corridors. While areas such as Kharadi have seen significant interest from global corporations, Hinjewadi continues to attract occupiers seeking scalable office footprints within established IT clusters.
The leasing activity is also aligned with broader trends in India’s commercial real estate sector, where demand is being driven by the expansion of Global Capability Centres, domestic corporate growth, and the consolidation of office portfolios into high-quality Grade A assets.
The transaction reinforces Pune’s position as a key office market, with continued occupier interest in large, integrated business districts capable of supporting long-term expansion plans.
