The Indian arm of US-based CA Technologies has renewed its lease for a 1.08 lakh sq ft commercial space in Pune’s Kharadi area. The lease is with a subsidiary of Panchshil Realty, with an annual rent exceeding Rs 12 crore for a five-year term, according to property registration documents accessed by CRE Matrix.
The office space spans three floors in the Eon Free Zone complex, situated in Pune’s prominent IT hub, Kharadi. The software solutions provider, specializing in IT infrastructure and services, will initially pay a monthly rent of Rs 1.08 crore. In addition to the rent, the company will also cover common area maintenance (CAM) charges of over Rs 14.73 lakh, bringing the total monthly payout to Rs 1.23 crore until November 2025.
The lease transaction, which was officially registered on November 28, also includes a security deposit of Rs 8.46 crore and stamp duty of Rs 49.57 lakh. CA India Technologies Private Limited has committed to the property for five years with a three-year lock-in period.
According to Abhishek Kiran Gupta, CEO & Co-founder of CRE Matrix & IndexTap.com, this deal highlights several key trends:
- Office markets remain strong, driven by the expansion of GCCs, Indian corporates, and startups.
- Pune continues to be a preferred office market due to its skilled workforce, Grade A office spaces, and affordability.
- Though Grade A office rents are rising, the pace of growth is slowing.
Between 2022 and 2024, CA Technologies paid a monthly rent of Rs 2.05 crore for leasing over 1.83 lakh sq ft. Going forward, rent will increase gradually, with Rs 1.12 crore per month expected from November 2025 to November 2026, and further increments in the subsequent years.
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