CA Technologies, a US-based software solutions provider, has renewed its lease for a 1.08 lakh sq ft commercial space in Pune’s Kharadi area. The company has agreed to pay an annual rent of over Rs 12 crore for the next five years.
The office space, located in the Eon Free Zone commercial complex, will be occupied by CA Technologies’ Indian arm. The company will pay a monthly rent of Rs 1.08 crore, along with common area maintenance (CAM) charges of over Rs 14.73 lakh, taking the total payout to Rs 1.23 crore per month.
The lease agreement, which was registered on November 28, includes a three-year lock-in period. CA Technologies has paid a security deposit of Rs 8.46 crore and a stamp duty of Rs 49.57 lakh.
According to Abhishek Kiran Gupta, CEO & Co-founder of CRE Matrix & (link unavailable), this office lease transaction highlights the buoyancy of office markets, driven by the expansion of GCCs, Indian corporates, and Indian start-ups. Gupta also noted that Pune remains a preferred office market choice due to its abundance of human capital, Grade A quality office buildings, and affordability.
The rent for the office space will increase by 5% per annum, with the company paying Rs 1.12 crore per month from November 2025 to November 2026, followed by Rs 1.18 crore between 2026 and 2027, Rs 1.24 crore between 2027 and 2028, and Rs 1.30 crore between 2028 and 2029.
Lease Period: 5 years
Lease Commencement Date: 4 Nov 2024
Lock-In Period: 3 years from Lease Commencement Date
Rent Escalation: 5% per annum
CAM Charges: Rs 13.58 per sq. ft. per month with 5% escalation every year
