Intercontinental Exchange, through its subsidiary ICE Mortgage Technology India, has leased nearly 193,053 sq ft of Grade-A office space in Magarpatta Cybercity to establish a new Global Capability Centre (GCC).
The long-term lease covers nine levels — including the lower ground floor, upper ground floor, and floors one to seven — in Tower S3. The space has been leased from Axis Max Life Insurance as part of the company’s India expansion strategy focused on technology and mortgage infrastructure operations.
Lease Structure and Financial Details
The rental agreement has been structured at Rs 90 per sq ft per month, resulting in an estimated monthly rental outflow of approximately Rs 1.73 crore. The contract includes a 15% rental escalation every three years, consistent with Grade-A institutional leasing benchmarks.
At the time of registration in January, the company deposited around Rs 10.42 crore as security, according to documents accessed via Propstack.
GCC Expansion Strengthens Pune’s Position
The transaction reflects the continued expansion of Global Capability Centres in Pune, as multinational companies increasingly diversify their India footprint beyond traditional metros.
Companies in financial services and technology sectors are scaling operations through integrated campuses that support product engineering, data infrastructure, and backend processing. The new Pune facility is expected to strengthen Intercontinental Exchange’s technology delivery capabilities, particularly in mortgage and financial market platforms.
Talent and Cost Advantages Driving Demand
Pune’s established office ecosystem, strong engineering talent pipeline, and competitive operating costs continue to attract multinational occupiers. Established micro-markets such as Magarpatta, Hinjewadi, and Kharadi have emerged as preferred destinations due to integrated business environments and campus-style developments.
The city is increasingly positioned alongside major GCC markets such as Bengaluru and Hyderabad, which anchor technology-led office demand.
Institutional Grade-A Supply Supporting Long-Term Growth
The deal also highlights the growing role of institutional capital in India’s commercial real estate sector. Developers are delivering scalable Grade-A office campuses designed for multinational tenants seeking long-term operational stability and expansion flexibility.
As GCC investments accelerate, transactions of this scale reinforce Pune’s emergence as a strategic global delivery location, particularly for technology-enabled financial services infrastructure.
Visit Our News section and follow us on LinkedIn and Twitter
Read more full news: Here
