Eaton Tech Leases 1.5 Lakh Sq. Ft. Office in Pune for ₹1.65 Cr. Monthly Rent

Eaton Technologies, the Indian arm of Eaton Corporation, has leased 1.5 lakh sq. ft. office space in Pune's Baner area for a monthly rent of Rs 1.65 crore. The deal includes a 10-year lease, with an annual escalation of 4.5% and an estimated rental outflow of over Rs 250 crore over the entire term. The company plans to set up its Global Capability Center in Pune. This 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.

Eaton Technologies, the Indian arm of global intelligent power management company Eaton Corporation, has leased 1.5 lakh sq. ft. of office space in Pune's Baner area for a monthly rent of Rs 1.65 crore. The deal includes a 10-year lease with an annual escalation of 4.5% and an estimated rental outflow of over Rs 250 crore over the entire term. The company plans to set up its Global Capability Center (GCC) in Pune. This 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.

The office space, comprising three floors at Aditya Shagun Infinity IT Park, has been leased from Astrope Properties, a subsidiary of K Raheja Corp. The lease, registered on August 3, 2025, carries a five-year lock-in period and provides 150 four-wheeler and 150 two-wheeler parking slots. Eaton Technologies has paid a security deposit of Rs 9.9 crore at the time of registration [1].

The lease commences on July 15, 2025, with rent kicking in across three phases. Fit-out rent has been fixed at Rs 2,400 per sq ft per month of chargeable area, while common area maintenance (CAM) charges are set at Rs 14.75 per sq ft per month [1].

This transaction adds to Pune’s position as a preferred location for GCCs in sectors such as technology, engineering, and financial services. According to real estate consultants, the western corridor of Pune, covering Baner, Balewadi, and Hinjewadi, has witnessed a surge in large, pre-committed office deals over the last 18 months [1].

India’s commercial office market has witnessed a landmark year in fiscal year 2025, with office leasing hitting record levels. According to rating agency ICRA, the momentum is expected to sustain in 2026, driven by sustained demand from key sectors such as GCCs, Banking, Financial Services and Insurance (BFSI) institutions, flexible workspace operators, and domestic Information Technology-Business Process Outsourcing (IT-BPM) firms [2].

The net absorption of commercial office space across the top six cities, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai Metropolitan Region (MMR), and Pune, reached a record high of 65 million sq ft in FY2025, a growth of 14% year-on-year. This surge in demand surpassed the 58 million sq ft of supply for the year, indicating a strong pace of growth [2].

References:
[1] https://economictimes.indiatimes.com/industry/services/property-/-cstruction/eaton-technologies-picks-up-1-50-lakh-sq-ft-in-pune-through-10-year-lease-pact/articleshow/123239195.cms
[2] https://economictimes.indiatimes.com/industry/services/property-/-cstruction/eaton-technologies-picks-up-1-50-lakh-sq-ft-in-pune-through-10-year-lease-pact/articleshow/123239195.cms