+
 Apex Fund Service acquires 53,592 sq ft office space in Pune
Real Estate

Apex Fund Service acquires 53,592 sq ft office space in Pune

A news agency reported that a US-based fund management company, Apex Fund Service LLP, has acquired more than 53,592 sq ft office space in Pune's Viman Nagar from Panchshil Realty, a property developer. The office space is located on the 7th floor of Panchshil Business Park's Tower A, and the lease period is five years with a lock-in period spanning the entire tenure.

The registration documents accessed by the news agency revealed that Apex Fund Service will pay monthly rentals of Rs 107 per sq ft for the office space, with a provision to increase rentals by 15 per cent after the first three years. The company has paid a security deposit of Rs 15 million for the transaction and will also receive access to a total of 49 car parking and 82 two-wheeler parking slots on payment of specific parking charges.

According to property consultants, the demand for commercial real estate spaces in Pune has mainly been driven by manufacturing sector companies, banks, and financial institutions. While manufacturing companies prefer West Pune or CBD localities due to proximity to the manufacturing hubs Chakan and Bhosari, financial sector companies and banks are more inclined towards East Pune, said Rounak J of Rounak Real Estate Consultants, who acted as the transaction advisor.

The news agency's email queries to Apex Fund Services and Panchshil Realty have not been answered yet. The commercial office segment, which was significantly impacted by the pandemic, has made a comeback in the last three-four quarters, supported by strong economic growth, increased hiring, and a return to the office trend.

Also Read
Indore civic body identifies housing projects delayed
Noida may allow co-developers to complete stalled projects


A news agency reported that a US-based fund management company, Apex Fund Service LLP, has acquired more than 53,592 sq ft office space in Pune's Viman Nagar from Panchshil Realty, a property developer. The office space is located on the 7th floor of Panchshil Business Park's Tower A, and the lease period is five years with a lock-in period spanning the entire tenure. The registration documents accessed by the news agency revealed that Apex Fund Service will pay monthly rentals of Rs 107 per sq ft for the office space, with a provision to increase rentals by 15 per cent after the first three years. The company has paid a security deposit of Rs 15 million for the transaction and will also receive access to a total of 49 car parking and 82 two-wheeler parking slots on payment of specific parking charges.According to property consultants, the demand for commercial real estate spaces in Pune has mainly been driven by manufacturing sector companies, banks, and financial institutions. While manufacturing companies prefer West Pune or CBD localities due to proximity to the manufacturing hubs Chakan and Bhosari, financial sector companies and banks are more inclined towards East Pune, said Rounak J of Rounak Real Estate Consultants, who acted as the transaction advisor. The news agency's email queries to Apex Fund Services and Panchshil Realty have not been answered yet. The commercial office segment, which was significantly impacted by the pandemic, has made a comeback in the last three-four quarters, supported by strong economic growth, increased hiring, and a return to the office trend. Also Read Indore civic body identifies housing projects delayedNoida may allow co-developers to complete stalled projects

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?