Mastercard Technology leases 4 lakh sq. ft in Pune for Rs 4.12 crore a month

The office space is being developed and is likely to be delivered in three phases between October 2022 and October 2024

Mastercard Technology has leased over 400,000 square feet of space in a commercial building in Pune for 20 years with rent starting at Rs 4.12 crore per month, documents accessed by Propstack showed.

The 423,070 sq. ft of space at Nephronia Ecopaces is owned by Witwicky One and Farokh Framji Wadia in the Yerwada area of Pune, the lease agreement showed. The space is being developed and is likely to be delivered in three phases between October 2022 and October 2024.

The lock-in period is 10 years and the security deposit is for 12 months. Rent escalation is at the rate of 4.75 percent per annum from the commencement of lease and includes car parking and signage. The commercial space comes with parking for 683 cars and 1,174 two-wheelers.

source: Online.

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