Welspun Enterprises Ltd has signed a long-term lease for over 4.5 lakh sq ft of office space at Radius IT Park in Hinjewadi, Pune, a prominent IT hub in India. This transaction, one of the largest in the city this year, involves a chargeable area of approximately 457,500 sq ft and a carpet area of over 3.29 lakh sq ft, spanning ground plus seven floors. The lease commenced on April 1 and is set for five years, with a starting rental rate of ₹27.5 per sq ft, resulting in a monthly expenditure of more than ₹1.25 crore. The agreement includes a 5% annual escalation clause, indicating expectations of steady rental growth in Pune's Grade-A office market. Hinjewadi has emerged as a key destination for various sectors, attracting firms due to its established ecosystem and competitive rental rates compared to major cities like Bengaluru and Mumbai. This deal underscores the ongoing demand for large office spaces in established business districts, as companies prioritize campus-style developments and long-term leases amidst changing workplace strategies.