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Eaton Tech leases 1.5 lakh sq. ft. office in Pune for ₹1.65 cr monthly rent
The deal, inked on August 3, 2025, covers 1,50,000 sq. ft. of chargeable area with 150 four-wheeler and 150 two-wheeler parking slots. The starting monthly rent is ₹1.65 crore, translating to ₹110 per sq. ft., with an annual escalation of 4.5%, as per property documents accessed by CRE Matrix, a data-driven real estate firm.
Eaton will pay a security deposit of ₹9.9 crore to lessor Astrope Properties Pvt Ltd. The agreement includes a 5-year lock-in period and a full-term fit-out lock-in. Fit-out rent has been set at ₹2,400 per sq. ft. per month, along with CAM charges of ₹14.75 per sq. ft.
The lease will commence on July 15, 2025, with phased rent commencement — Phase 1: 120 days post-lease start, Phase 2: December 1, 2025, Phase 3: January 15, 2026.
The tenant also has the option to lease an additional 47,000 sq. ft. in Unit 801.
The deal involves an estimated rental outflow of over Rs 250 crore over the entire term.
The company is planning to set up its Global Capability Center (GCC) here.
This transaction marks one of Pune's largest IT park leasing deals in 2025, underlining sustained demand for Grade A office space in the city's Baner micro-market.
According to a recent Vestian Research report, more than 53 percent of global Global Capability Centres (GCCs) now operate out of India. India has established itself as the global hub for GCCs with over 1,700 of the estimated 3,200 centres worldwide.
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