Welspun Enterprises Limited has leased 4.57 lakh sq ft of office space at Radius IT Park in Pune, according to registration documents accessed by realty intelligence firm Propstack.
The five-year fresh lease, effective April 1, 2026, is priced at ₹27.5 per sq ft, translating into a monthly rental of around ₹1.25 crore, with a 5 per cent annual escalation clause. The deal spans G+7 floors, with a carpet area of 3.29 lakh sq ft and a total chargeable area of 4.57 lakh sq ft.
Pune sees demand uptick
The transaction comes amid a steady uptick in Pune’s office leasing activity, with industry experts expecting demand to double by 2030. Large infrastructure projects, including the Outer Ring Road, metro expansion, and improved air connectivity, are widening the city’s catchment and enhancing accessibility, making it increasingly attractive to occupiers.
Recent transactions underscore this momentum. Logistics major Maersk has leased 1.93 lakh sq ft in Pune for its global capability centre at a monthly rent of ₹1.45 crore, with a 10-year tenure and a 15 per cent escalation every three years.
Rental arbitrage continues to play a key role in driving demand. Average office rents in Pune stand at about ₹87 per sq ft, compared with roughly ₹102 in Bengaluru and ₹148 in Mumbai, making it a cost-effective alternative for large occupiers.
businessline had earlier reported that established micro-markets such as Kharadi, Hinjewadi, and Baner–Balewadi continue to see strong demand, while emerging corridors, including Kharadi Extension–Wagholi, Wakad–Tathawade, and the Magarpatta–Mundhwa belt, are gaining traction, driven by connectivity upgrades and the expansion of technology-led occupiers and flexible workspace operators.
Published on April 20, 2026