Citigroup Leases 7.7 Lakh Sq Ft Office Space in Pune for ₹1,100 Crore

Citigroup Inc. has leased over 7.7 lakh sq ft office space across 10 floors in Pune's Kharadi locality at Panchshil Business Hub. The ₹1,100 crore deal, starting April 1, includes monthly rentals ranging from ₹2.02 crore to ₹2.71 crore, with a 15% escalation every 36 months. The lease spans up to 10 years with a 4-5 year lock-in period. Citigroup will also get 770 car and 1,185 two-wheeler parking slots. The deal includes ₹197 crore in CAM charges with 5% annual escalation. Citicorp Services India, Citigroup’s subsidiary, will operate from the space, providing back-office, IT, and financial services. This is India’s largest office space deal of 2024.