International Tech Park Pune, Kharadi commences operations with 80% leasing commitment from leading multinational companies CapitaLand Investment now has 12 business parks across six cities in India
CapitaLand Investment Limited (CLI) has commenced operations for Phase 1 of International Tech Park Pune, Kharadi (ITPP-Kharadi). Spread over 1.5 million square feet (sq ft), the two office blocks in Phase 1 development of ITPP-Kharadi have achieved a leasing commitment of nearly 80% from large corporations such as 315 Work Avenue, Acuity Knowledge Partners, Bharti Airtel, Deloitte, Hewlett Packard Enterprise, NielsenIQ, PTEC Technology Solutions, SAP Labs, Sulzer, Tablespace, Whirlpool India and ZS Associates.
Strategically located near the Pune Lohegaon International Airport, ITPP-Kharadi is part of Pune’s well-established IT corridor, Kharadi. ITPP-Kharadi is developed in two phases, with Phase 2 development of the 1.5 million sq ft office block expected to complete by 4Q 2023. Upon completion, ITPP-Kharadi will house over 30,000 IT service professionals.
Mr Gauri Shankar Nagabhushanam, CEO, India Business Parks, CLI said: “Pune is one of our key growth markets in India. ITPP-Kharadi is our third business park in Pune, and it exemplifies our strong commitment to contributing to Maharashtra’s flourishing IT infrastructure. We extend a warm welcome to our new tenants and are confident that our park’s collaborative spaces, state-of-the-art amenities and lifestyle and technology solutions will serve our clients well.”
ITPP-Kharadi is developed under CLI’s Ascendas India Growth Programme[1], with GIC as its principal investor. The 16.5 acres IT campus, with a total development potential of 3 million sq ft is being developed at a total project cost of INR 17.5 billion (S$311 million). ITPP-Kharadi, which is designed with green and sustainable features, has secured a INR 13 billion (S$231 million) green loan from HSBC India. ITPP-Kharadi is CLI’s third business park development in Pune, following the International Tech Park Pune, Hinjawadi and aVance Business Hub, Hinjawadi.
A sustainable business park for the Kharadi community
ITPP-Kharadi has registered for the U.S. Green Building Council’s Leadership in Energy and Environmental Design Gold certification, Platinum Certification by the Indian Green Building Council as well as WELL Gold Certification by the International WELL Building Institute. Its sustainable features include an urban farm, rooftop solar panels to generate renewable energy, LED and motion sensor lighting, EV charging, double-glazed facades with fins for energy efficiency, water-saving fittings, rainwater recycling and organic waste converters.
The park also features an array of modern amenities for collaborative team activities, including outdoor meeting areas, a rooftop sports arena for cricket, tennis and futsal, food courts and a planned amphitheater for events and team meetings. Tenants can access park amenities and updates via the CapitaStar@Work app, CapitaLand’s workspace experience solution that provides an elevated and integrated user experience across its workspace properties.
CapitaLand in India
CapitaLand has close to 30 years of experience in India and is one of the business park pioneers in the country. It has a strong portfolio of more than 30 properties across seven cities, with total assets under management of INR 247 billion (S$4 million). Its resilient and well-diversified portfolio in India includes business park, industrial, logistics, lodging and data centre assets.
