Welspun Enterprises Ltd has leased 4.5 lakh sq ft of commercial office space in Radius IT Park in Pune’s Hinjewadi for over ₹82 crore, according to property registration documents accessed by Propstack.
According to the documents, the space was leased for 5 years, commencing on April 1, 2026, and expiring on March 31, 2031.
The documents show that the space was leased from Indo Global Soft Solutions and Technologies Pvt Ltd
The transaction includes 3.29 lakh sq ft of carpet space and 4.57 lakh sq ft chargeable area. The starting monthly rent is ₹1.25 crore, and there is a clause for an annual 5% escalation in the monthly rent, according to the documents.
The transaction was registered on March 27, 2026, for which a stamp duty of ₹18 lakh and a registration fee of ₹500 were paid, the documents show.
“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),” said Raja Seetharaman, co-founder of Propstack.
An email query was sent to Welspun Enterprises and Indo Global Soft Solutions and Technologies. The story will be updated if a response is received.
“While East Pune, led by Kharadi, has recently secured mega-transactions from global leaders like Maersk and Citicorp, this 4.5 lakh sq ft. commitment by Welspun, alongside recent entrants like Arcelor Mittal in Hinjewadi, reinforces that the appetite for large-scale, high-quality Grade A space remains equally potent in the West,” Seetharaman said.
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Recent transactions in the Pune real estate market
Recently, 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, according to documents accessed by Propstack.
Along with this, BMW has expanded its 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, documents accessed by Propstack showed.
In November 2025, leased around 1.63 lakh sq ft of office space in Pune’s Hinjewadi area for a total rent of over ₹44 crore, according to property registration documents accessed by Propstack.
US-based Mortgage Technology’s Indian subsidiary, ICE MT India Private Limited, has leased 1.93 lakh sq ft of office space in to set up its Global Capability Centre (GCC) for a total rent of ₹217 crore, according to property registration documents accessed by Propstack. The space has been leased from Axis Max Life Insurance Limited for nine years, according to the documents.
The company has taken space measuring 1.54 lakh sq ft of carpet area and 1.93 lakh sq ft of chargeable area in Tower S3, Magarpatta Cybercity. The space spans the underground floor, lower ground floor and seven floors, from level one to level seven, according to the documents. The transaction was registered on December 29, 2025 for which a stamp duty of ₹4.42 crore was paid for registering the transaction.