Tishman Speyer, Axis CRE and Kasturi Partner for Pune Office Project

24 Nov 2025 CW Team

As part of the alliance, Tishman Speyer, via the Axis CRE fund, has acquired an equal stake alongside Kasturi in a special purpose vehicle that will oversee construction, development and leasing of the project. The upcoming development will offer approximately 1 million sq ft of premium office space designed with advanced sustainability standards and modern workplace technologies. The project is being planned for LEED/IGBC certification and will focus on a wellness-oriented and future-ready work environment.

“We are delighted to expand our footprint in India with a trusted and forward-thinking partner like Kasturi Housing,” said Parvesh Sharma, Managing Director, Tishman Speyer India. “Pune’s growth as a major business hub aligns with our vision of developing world-class, sustainable workplaces. This project underscores our long-term commitment to India.”

Chetan Shah, Head Real Estate, Axis AMC, said, “With significant infrastructure development underway, we are excited to launch our latest project in Pune, strategically located in a rapidly revitalising area. The Kasturi group has created a landmark development at Balewadi.”

Bharat Agarwal, Chairman, Kasturi Housing, said, “This collaboration marks a significant milestone for Kasturi as we bring together our design-driven development approach with Tishman Speyer’s global expertise. The project will redefine workspaces in Pune with a focus on sustainability, technology, and experience.”

Sanjay Bajaj, Senior Managing Director, JLL Pune, said, “This partnership marks a significant milestone for Pune’s commercial real estate market. Bringing together Tishman Speyer’s global development strengths and Kasturi Housing’s established presence creates a powerhouse combination.”

Construction completion is expected by 2028. Pune remains one of the country’s most sought-after office markets with more than 360 global capability centres driving occupier demand.

Tishman Speyer, through its investment arm Axis Commercial Real Estate Fund, has entered into a strategic partnership with Kasturi Housing to develop a Grade-A commercial and IT office project in Balewadi, Pune. JLL Capital Markets, Pune advised and structured the partnership, acting as exclusive real estate consultant. As part of the alliance, Tishman Speyer, via the Axis CRE fund, has acquired an equal stake alongside Kasturi in a special purpose vehicle that will oversee construction, development and leasing of the project. The upcoming development will offer approximately 1 million sq ft of premium office space designed with advanced sustainability standards and modern workplace technologies. The project is being planned for LEED/IGBC certification and will focus on a wellness-oriented and future-ready work environment. “We are delighted to expand our footprint in India with a trusted and forward-thinking partner like Kasturi Housing,” said Parvesh Sharma, Managing Director, Tishman Speyer India. “Pune’s growth as a major business hub aligns with our vision of developing world-class, sustainable workplaces. This project underscores our long-term commitment to India.” Chetan Shah, Head Real Estate, Axis AMC, said, “With significant infrastructure development underway, we are excited to launch our latest project in Pune, strategically located in a rapidly revitalising area. The Kasturi group has created a landmark development at Balewadi.” Bharat Agarwal, Chairman, Kasturi Housing, said, “This collaboration marks a significant milestone for Kasturi as we bring together our design-driven development approach with Tishman Speyer’s global expertise. The project will redefine workspaces in Pune with a focus on sustainability, technology, and experience.” Sanjay Bajaj, Senior Managing Director, JLL Pune, said, “This partnership marks a significant milestone for Pune’s commercial real estate market. Bringing together Tishman Speyer’s global development strengths and Kasturi Housing’s established presence creates a powerhouse combination.” Construction completion is expected by 2028. Pune remains one of the country’s most sought-after office markets with more than 360 global capability centres driving occupier demand.

Resources

03 Jun 2026

Jyoti Structures Launches Heat Safety Drive Across Sites

Jyoti Structures (JSL) has strengthened heat safety measures across its project sites and manufacturing facilities as temperatures rise across India. The company has implemented a Summer Safety Plan covering all transmission line projects to address risks related to heat stress, dehydration and worker fatigue.The initiative includes rescheduling work away from peak afternoon temperatures, provision of drinking water, ORS and lemon-salt solutions, and installation of rest shelters near work areas. Daily toolbox talks, worker health monitoring, first-aid preparedness, emergency transport arrange..

Real Estate

03 Jun 2026

MHADA Declares 82 Buildings Most Dangerous in Central and South Mumbai

The Maharashtra Housing and Area Development Authority (MHADA) has declared 82 buildings as most dangerous across Central and South Mumbai and has appealed to residents to vacate immediately. The list, prepared after structural assessments by the authority, identifies buildings judged to pose imminent risk to occupants and to passersby. Local civic bodies have been asked to coordinate evacuations and to make arrangements for temporary shelter and rehabilitation for displaced households. Officials said the authority prioritised buildings with visible structural distress, severe cracking, tiltin..

Infrastructure Transport

03 Jun 2026

Damage Reported At Halwara Airport Terminal After First Rains

Severe damage was reported at the terminal of Halwara Airport during the first major rain spell of the season, prompting immediate concern among aviation and local authorities. Images from the site showed water ingress and visible deterioration of the terminal interior, affecting passenger areas and ancillary services. The airport authority suspended certain operations temporarily to assess structural safety and ensure passenger wellbeing. Preliminary inspections have prioritised electrical systems and roof seals to prevent further water ingress. State aviation officials ordered a formal inqui..