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Welspun Enterprises has leased over 4.5 lakh sq ft of office space in Hinjewadi, Pune, marking one of the largest commercial leasing transactions in the city in recent months. The space, located in a Grade A IT park, has been taken on a five-year lease with a total rental commitment exceeding INR 82 crore. The deal reflects sustained occupier demand in Pune’s western IT corridor, driven by expansion plans of domestic firms and continued traction from Global Capability Centres. Hinjewadi remains a key micro-market for large-format office transactions.
Welspun Enterprises has leased more than 4.5 lakh sq ft of office space in Hinjewadi, Pune, through a long-term agreement, in a transaction that ranks among the larger commercial office deals in the city, according to property registration data and market disclosures released earlier this week. Advertisement
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, reflecting 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, which continues to attract large occupiers due to its established infrastructure and connectivity to key residential and commercial zones.
The deal highlights 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 expansion of Global Capability Centres, domestic corporate growth, and 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.
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