Eaton Signs Rs 165 Million-a-Month Baner Office Lease

13 Aug 2025 CW Team

Eaton Technologies, the Indian arm of global intelligent power management firm Eaton Corporation, has signed a 10-year lease for 150,000 sq ft of office space in an IT park in Pune’s Baner area, at a starting monthly rent of Rs 165 million.

The agreement, finalised on 3 August 2025, includes 150 four-wheeler and 150 two-wheeler parking slots. The rent, set at Rs 110 per sq ft, will increase annually by 4.5 per cent. Eaton will pay a security deposit of Rs 990 million to lessor Astrope Properties Pvt Ltd. The deal also has a five-year lock-in period and a full-term fit-out lock-in, with fit-out rent fixed at Rs 2,400 per sq ft per month and common area maintenance (CAM) charges at Rs 14.75 per sq ft.

The lease begins on 15 July 2025, with phased rent commencement — Phase 1: 120 days after lease start, Phase 2: 1 December 2025, and Phase 3: 15 January 2026. Eaton also holds an option to lease an additional 47,000 sq ft in Unit 801. The total rental outflow over the lease term is estimated at over Rs 2.5 billion.

Eaton plans to establish its Global Capability Centre (GCC) at the site. The deal ranks among Pune’s largest IT park leasing transactions in 2025, reflecting strong demand for Grade A office space in Baner’s micro-market.

According to Vestian Research, more than 53 per cent of Global Capability Centres operate from India, which hosts over 1,700 of the estimated 3,200 such centres worldwide.

Infrastructure Urban

03 Oct 2025

Indian REITs Association Joins Global REIT Alliance

The Indian REITs Association (IRA) has become a member of the Global REIT Alliance, a coalition representing the global Real Estate Investment Trust (REIT) sector. The alliance, launched at the European Public Real Estate Association’s 2025 ReThink conference in Stockholm, aims to promote cross-border cooperation, policy dialogue, and market standardisation for the growth of REITs as an investment asset class.The Global REIT Alliance, which includes members from 24 countries, focuses on promoting global awareness of securitised real estate, supporting sustainable investment, providing indust..

Vande Bharat May Soon Connect Chennai and Rameswaram

Southern Railway plans to introduce a Vande Bharat Express between Chennai and Rameswaram following the completion of electrification on the 53-km Ramanathapuram–Rameswaram section.A proposal has been submitted to the Railway Board to operate the new daytime service from either Chennai Egmore or Tambaram, aiming to ease congestion on existing overnight trains along the 600–660 km route.Officials noted that while the section is cleared for electric locomotives, a 220-metre gap near Uchipuli will undergo trials before the Vande Bharat is introduced. The final route will consider travel time,..

RITES Partners with Etihad Rail to Boost Infrastructure Collaboration

RITES, a leading transport infrastructure consultancy and engineering firm, has signed a Memorandum of Understanding (MoU) with UAE-based Etihad Rail to enhance business collaboration with its subsidiary, National Infrastructure Construction Company (NICC).The partnership aims to combine RITES’ five decades of expertise in consultancy, transport infrastructure, and engineering with NICC’s execution capabilities, creating synergies for infrastructure projects across the UAE and other regions.The MoU was signed by HE Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Di..