CitiCorp Rents 7.71 Lakh Sq Ft Office in Pune - CRE Matrix

New Delhi, Mar 25 (PTI) CitiCorp Services India Pvt Ltd has taken on rent 7.71 lakh square feet office space in Pune for a starting monthly rent of nearly Rs 7 crore, according to CRE Matrix.

Real estate data analytics firm CRE Matrix has reviewed the registered lease agreements.

Three separate lease agreements were registered on March 12.

CitiCorp Services India Pvt Ltd has leased around 7.71 lakh sq ft office spaces from Pune Business Spaces Pvt Ltd in commercial project 'Panchshil Busines Hub' in Pune with a total monthly rent of over Rs 6.78 crore.

The starting monthly rent is Rs 88 per square feet.

The total 7.71 lakh square feet space is spread across 10 floors. The three lease agreements are for around 10-year period. There is a rent escalation clause of 15 per cent every three years.

According to various consultants, the gross leasing of office space hit an all-time high in 2024 on huge demand from foreign and domestic firms.

Pune is an important office market in India.