 "Office space in Pune's Koregaon Park leased for Rs 1.2 crore monthly rent")
The Indian arm of US-based CA Technologies has renewed its lease for a 1.08 lakh sq ft commercial space in Pune's Kharadi area with a subsidiary firm of Panchshil Realty for an annual rent of over Rs 12 crore for five years, as per property registration documents accessed by CRE Matrix.
The over 1.08 lakh sq ft office space is spread across three floors in a commercial complex Eon Free Zone located in Pune’s eastern information technology corridor Kharadi.
The software solutions provider for managing information technology infrastructure and services will be paying a rent of Rs 1.08 crore per month initially. In addition to this, the company will also be paying common area maintenance (CAM) charges of over Rs 14.73 lakh, taking total payout to Rs 1.23 crore per month till November 2025.
The rental transaction was registered on November 28. The tenant has paid a security deposit of Rs 8.46 crore and a stamp duty of Rs 49.57 lakh.
CA India Technologies Private Limited has rented the property for five years with a three-year lock-in period.
"This office lease transaction highlights three to four key points, as per Abhishek Kiran Gupta, CEO & Co-founder, CRE Matrix & IndexTap.com
1. Office markets remain buoyant as GCCs, Indian corporates, Indian Start-ups continue to expand footprint
2. Pune as a preferred office market choice primarily driven by abundance of human capital, Grade A quality office buildings and affordability
3. Grade A office Rentals are still rising albeit growth is slowing down
Between 2022 and 2024, the company paid Rs 2.05 crore monthly rent for leasing space of over 1.83 lakh sq ft.
From November 2025 to November 2026, the rent will increase to Rs 1.12 crore per month, followed by Rs 1.18 crore between 2026 and 2027, Rs 1.24 crore between 2027 and 2028, and Rs 1.30 crore between 2028 and 2029, the documents showed.
Deal details:
- Lease Period:- 5 years
- Lease Commencement Date:- 4 Nov 2024
- Lock-In Period:- 3 years from Lease Commencement Date
- Rent Escalation:- 5% per annum
- CAM Charges:- Rs 13.58 per sq. ft. per month with 5% escalation every year