Pune’s western IT corridor has recorded another large-format commercial transaction, with a technology firm committing to over 1.6 lakh sq ft of workspace in Hinjewadi under a multi-year lease valued at more than ₹44 crore. The deal reinforces sustained demand for Grade A office space in a market that continues to anchor the city’s employment and infrastructure growth.
Property registration records show that the premises, located within a premium technology park in Hinjewadi Phase I, have been leased for a five-year tenure beginning November 2025. The agreed rental of ₹48 per sq ft per month translates into a monthly outgo of roughly ₹78 lakh, with a pre-agreed escalation after two years. The transaction includes dedicated parking provisions and a security deposit running into several crore rupees, reflecting the scale and institutional nature of the commitment. The Pune Hinjewadi office leasing market has remained active despite moderation in residential registrations in recent months. Commercial brokers say global capability centres and digital services companies continue to consolidate or expand footprints in established tech parks that offer large, contiguous floor plates and integrated amenities.
Hinjewadi’s location along the Mumbai–Pune corridor, combined with improving metro connectivity and arterial road upgrades, has strengthened its appeal as a corporate cluster. Urban economists note that commercial leasing decisions often shape surrounding real estate ecosystems, influencing housing demand, retail activity and mobility planning. Over the past two years, similar large transactions by multinational firms have reaffirmed the corridor’s positioning as Pune’s primary office destination. Analysts tracking the Pune Hinjewadi office leasing segment observe that companies are increasingly favouring energy-efficient buildings with sustainability certifications, reflecting global ESG commitments and operational cost considerations.
From a fiscal perspective, sizeable lease agreements contribute to stamp duty revenues and registration collections for the state, even as residential transactions experience periodic recalibration. Commercial absorption also signals confidence in the local employment market, particularly in technology and business process management sectors that drive Pune’s economic base. However, planners caution that sustained office expansion must be matched by infrastructure upgrades. Traffic congestion, last-mile connectivity and water management remain structural challenges in parts of the IT corridor. Integrated transport systems and low-carbon mobility solutions will be critical to ensuring that growth does not outpace civic capacity.
Market participants suggest that demand for high-quality office environments remains resilient, especially where campuses offer amenities that support hybrid work models. As firms recalibrate workplace strategies post-pandemic, flexible layouts and collaborative spaces are gaining prominence.
The latest transaction underscores that while residential indicators fluctuate, the Pune Hinjewadi office leasing market continues to demonstrate depth. For the city, commercial absorption in key corridors will remain closely tied to job creation, urban infrastructure investment and the broader trajectory of sustainable economic growth.
Pune Office Leasing Strengthens In Hinjewadi
