ArcelorMittal Global Capability Centre (GCC) Pvt Ltd has leased nearly 1 lakh sq ft of office space at Nalanda SEZ IT Park, Hinjewadi, Pune, reinforcing Pune’s position as a key GCC hub in India.
Lease Details
The expansion includes two separate five-year lease agreements signed with Nalanda Shelter Pvt Ltd, taking ArcelorMittal GCC’s total monthly rent to about ₹62.6 lakh, according to Propstack data.
- 25,581 sq ft (Ground Floor): Leased at ₹85 per sq ft per month, with a monthly rent of ₹21.74 lakh, 5% annual escalation, and no security deposit.
- 77,198 sq ft (Third Floor): Leased at ₹53 per sq ft per month, generating a monthly rent of ₹40.9 lakh, with a 15% escalation every three years and a ₹2.05 crore security deposit.
Both leases commenced on May 15, 2025.
Expansion Flexibility
As part of the agreement, ArcelorMittal GCC has secured a hard option to lease an additional 61,506 sq ft, allowing for future expansion within the same IT park.
Market Significance
Real estate experts note that the transaction reflects strong demand from multinational GCCs for large, scalable office spaces in Pune’s IT corridors. Hinjewadi continues to attract GCCs due to SEZ-ready infrastructure, cost competitiveness, and a deep talent pool.
Broader GCC Context
The development aligns with Maharashtra’s GCC Policy 2025, which aims to attract significant investment and employment through large-scale GCC expansion across the state.
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