- Smartworks, a leading managed office space provider, has recently secured a substantial office lease in Pune’s western Balewadi suburb.
- The company has taken on 6.13 lakh square feet of office space in the 43 EQ office building, marking a significant expansion in its Pune operations.
- The lease, valued at Rs 4.48 crore per month, includes the 4th through 18th floors of the building, according to documents reviewed by real estate data analytics firm CRE Matrix.
- The lease agreement was officially registered in April and commenced on July 1, with Smartworks paying a starting rent of Rs 73 per square foot per month.
- Over the five-year license period, Smartworks provided a security deposit of Rs 13.21 crore, with actual lease payments beginning on May 1, 2025.
- With this new lease, Smartworks’ managed office space portfolio in Pune now exceeds 3 million square feet, and the company’s total managed portfolio across India has reached 8 million square feet.
- The 43 EQ property is strategically located in Balewadi, off the Mumbai-Bengaluru highway, making it a convenient location for technology companies, startups, and global capability centers.
- Balewadi has become a prominent hub for various sectors including automotive, technology, telecommunications, and heavy engineering, as well as a significant retail and food and beverage destination.
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