Co-working space firm Awfis has leased commercial space of 2.7 lakh sq ft in Pune’s Kharadi area for an annual rent of ₹15.77 crore for five years, according to property documents accessed by Propstack.com
The commercial space is spread across 17 levels in a building named Nyati Enthral 2 located in the Kharadi area of Pune. The documents show that the lease commenced on January 1, 2025, and the transaction was registered on December 27, 2024.
The company has paid a security deposit equivalent to seven months of rent. The lease period tenure is 60 months, the documents showed.
According to the documents, the rent-free or fit-out period is 18 months, with a 15% rent escalation clause after three years
An email query has been sent to Awfis and Nyati Group. If a response is received, the story will be updated.
Awfis had announced in November 2024 that it would secure the mandate to design, build, and operate a 1.65 lakh-square-foot office space in Mumbai for the National Stock Exchange.
Recent commercial deals in Pune
In November 2024, US-based business software maker CA (India) Technologies Private Limited renewed its 1.08 lakh sq ft commercial space lease in Pune’s Kharadi area with a subsidiary firm of Panchshil Realty for five years at an annual rent of over ₹12 crore, as per property registration documents.
Also Read: Pune real estate market’s property registrations report an 11% YoY fall in November, stamp duty collections fall by 2%
According to property registration documents accessed by Propstack, Mindspace Business Parks REIT renewed the lease for 3.75 lakh sq ft in Commerzone in Pune’s Yerwada to Nvidia Graphics Private Limited in September 2024 for ₹3.03 crore per month rent.
Bengaluru-based listed real estate developer Prestige Estates’ wholly owned subsidiary Prestige Exora Business Parks Ltd had, in April 2024, purchased a 4.57-acre land parcel in Pune for ₹200 crore, according to property registration documents.
Also Read: Pune real estate land deal: Prestige Exora Business Parks buys 4.57-acre land parcel for ₹200 crore
According to local brokers, Kharadi’s commercial real estate market has witnessed commercial transactions getting sealed at a monthly per sq ft rent of around ₹90. Several multinational and domestic companies like Deloitte, Wipro, Tech Mahindra, Infosys have their presence in Kharadi.
