• Home
  • Real Estate
  • WeWork India Leases 2 Lakh Sq Ft Office Space in Pune's Wakad at ₹73 per sq ft
Real Estate

WeWork India Leases 2 Lakh Sq Ft Office Space in Pune's Wakad at ₹73 per sq ft

  • by- Zaid
  • Apr 24, 2026
Flexible workspace major WeWork India Management has leased more than 2.04 lakh sq ft of office space in Pune's Wakad locality at Phoenix Millennium Tower 3 under a long-term agreement.
WeWork India Leases 2 Lakh Sq Ft Office Space in Pune's Wakad at ₹73 per sq ft

Mumbai, April 24: The lease covers five floors — from the 13th to the 17th. The 13th, 14th and 15th floors have been leased for 10 years, while the 16th and 17th floors are on a five-year term.

Lease Terms

  • Monthly rent: ₹73 per sq ft

  • Total monthly outgo: Over ₹1.49 crore

  • Escalation: 12% after first three years, then 13.5% every three-year cycle

  • Security deposit: ₹4.47 crore

Readiness Dates

  • 13th-15th floors: November 2026

  • 16th-17th floors: August 2026

Subleasing

WeWork India has subleased portions of the 13th, 14th and 15th floors to three tenants at rentals of ₹255 per sq ft per month , expected to commence from August 2026.

Expansion Plans

WeWork India is adding approximately 7,700 desks across Hyderabad, Pune, and Bengaluru with an investment of ₹110 crore:

  • Hyderabad & Pune: New centers expected by July-August 2026

  • Bengaluru: Expansion targeted for completion by September 2026

Location Advantage

Phoenix Millennium Tower 3 is in Wakad, one of Pune's fast-growing office micro-markets, supported by connectivity to the Mumbai-Pune Expressway and proximity to Hinjewadi IT hub.