Indospace Leases 1.2 L Sq Ft Warehouse in Pune for Rs 4.6 Mn Monthly Rent

22 Apr 2025 CW Team

IndoSpace has leased 1.27 lakh sq ft of warehousing space to manufacturing firm Steelcase Asia Pacific Holdings in Pune, with a monthly rental of Rs 460.42 million, as per documents accessed by Propstack.

The leased premises are situated within the IndoSpace Industrial Park, and the agreement came into effect on January 29, according to the documents.

The deal includes two units leased at a rate of Rs 36.37 per sq ft per month for a tenure of five years. Steelcase paid a security deposit equivalent to six months' rent, amounting to Rs 20.78 million. The agreement also stipulates an annual rent escalation of 5 per cent.

Email queries have been sent to both IndoSpace and Steelcase. The article will be updated if any response is received.

In a recent major warehousing and industrial logistics deal, IndoSpace had leased over seven lakh sq ft of space to RenewSys India, a solar photovoltaic module manufacturer. This space, located in Khalapur near Mumbai, was leased for a duration of 10 years at a monthly rent of Rs 10.43 million.

In January 2025, Mahindra Logistics Limited had leased 4.75 lakh sq ft of warehousing and logistics space in Khed, near Pune, for a total rental value of approximately Rs 730 million over five years. This space is located in Karanje Emerald Industrial Park.

In another notable transaction in March, Malpani Group revealed that it had signed a 10-year lease agreement with Tata Autocomp Katcon Exhaust Systems. The deal involved leasing 77,800 sq ft of space in Malpani Industrial and Logistics Park, situated in Chakan near Pune, for about Rs 400 million. This marks the second leasing agreement between Malpani Group and Tata.

News source: Hindustan Times

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..