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

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

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. 

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. 

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?