Pune's commercial real estate market has recorded another significant office transaction, with Nice Interactive Solutions India Private Limited leasing approximately 1.63 lakh square feet of workspace in Hinjewadi. The deal, valued at over ₹44 crore, further reinforces Hinjewadi's position as the city's dominant IT and technology office corridor.

According to property registration documents, Nice Interactive has taken 162,967 sq ft of office space at Embassy Tech Zone 1.5 Rhine, a commercial development owned by Embassy Pune Techzone Private Limited.

The lease covers office premises across the second, third, fourth and eighth floors of the building. The agreement is valid for five years, from November 2025 to November 2030.

The rental terms include:

• Rent of ₹48 per sq ft per month
• Monthly outgo of approximately ₹78.22 lakh
• Total lease value exceeding ₹44 crore over five years
• 15 percent rent escalation after two years

The transaction was registered on November 28, 2025. Stamp duty of over ₹64 lakh and a registration fee of ₹30,000 were paid as part of the process.

The lease agreement includes 166 car parking spaces for the tenant. Additional parking spaces are available at ₹2,000 per car per month.

Nice Interactive has also deposited approximately ₹5.58 crore as a security deposit, as per the registered documents.

These terms reflect structured commercial leasing practices typical of Grade A IT parks in Pune's western corridor.

Hinjewadi, located on Pune's western edge and closer to the Mumbai-Pune Expressway, has evolved into the city's primary IT and corporate hub.

The area is home to:

• Large IT parks
• Global Capability Centres
• Technology and consulting firms
• Multinational occupiers

Its availability of large floor plates, modern infrastructure, and connectivity advantages continues to attract enterprise-scale leasing.

Nice Interactive's lease is part of a broader trend of significant transactions in the micro-market.

• In 2025, ArcelorMittal's Global Capability Centre leased approximately 1 lakh sq ft at Nalanda SEZ IT Park in Hinjewadi, increasing its total monthly rent to around ₹62.6 lakh.
• In 2024, Infosys BPM Limited leased 1.3 lakh sq ft at Embassy Tech Zone in Pune at a monthly rent of ₹70.4 lakh under a three-year agreement.

Such transactions highlight sustained demand from IT and global firms seeking scalable, campus-style office developments.

The 1.63 lakh sq ft lease signals continued confidence in Pune's commercial real estate sector, especially within the technology and services space.

Large-format leasing indicates:

• Stable enterprise demand
• Preference for established IT corridors
• Continued relevance of Grade A business parks
• Long-term expansion plans by occupiers

Hinjewadi's role as Pune's IT backbone remains intact, supported by ongoing corporate commitments.

Nice Interactive's ₹44 crore leasing transaction adds to the growing list of high-value office deals in Hinjewadi. With strong leasing momentum from technology companies and GCCs, Pune's western corridor continues to demonstrate resilience and scalability. As enterprises expand and consolidate operations, Hinjewadi is expected to remain central to Pune's commercial growth trajectory.