Co-working giant Awfis Space Solutions expands its footprint with a 197,000 Sq Ft lease in Pune’s thriving Kharadi over a five-year lease, according to documents accessed by CRE Matrix.
For the initial three-month fit-out period commencing on January 1st, the company will pay a monthly rental of Rs 18 per square foot. After the initial three months, lease rentals will be structured based on a profit-sharing model with a minimum guarantee, as outlined in the agreement between the company and the developer.
This transaction, registered on December 30th, involved a security deposit payment of Rs 8.87 crore from Awfis Space Solutions. The leased office space occupies all 17 floors of the commercial tower. The agreement includes a monthly common area maintenance charge of Rs 4 per square foot of carpet area.
Startups and small businesses are leaving behind traditional office setups and embracing the freedom of flexible workspaces. With hybrid work becoming the norm, who needs a massive office gathering most of the time? Coworking spaces and managed offices offer the perfect solution. This flexibility is a game-changer, especially in dynamic cities like Bengaluru, Mumbai, and Delhi-NCR. The market is exploding with options, from sleek, modern offices to cozy, creative workspaces.
Recent Office Transactions in Pune
Pune’s manufacturing and IT sectors are driving the city’s office market. Areas like Magarpatta City, Kharadi, and Hinjewadi are popular spots for businesses, with lots of modern office buildings popping up. You can find everything from big corporate towers to smaller, more flexible spaces, so there’s something for every company.
In a recent transaction, CA India Technologies Pvt. Ltd. Extended its Office Lease in Pune’s IT Hub with Annual Rent Exceeding ₹12 Crore.
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