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Pankaj Udhas' Wife Leases 3,347 Sq Ft Commercial Property in Pune for Rs 2.89 Crore
Farida Pankaj Udhas has leased a commercial property in Pune to ICICI Bank for nine years, totaling Rs 2.89 crore. The lease includes a 10% rent escalation every three years.
Confidence: 95%Sentiment: NeutralMedium Priority
Tags
Entities
Pankaj Udhas· PersonFarida Pankaj Udhas· PersonICICI Bank· OrganizationPune· CityFarena Corporate Park· Location
What Happened?
Farida Pankaj Udhas has leased a commercial property in Pune to ICICI Bank for nine years, totaling Rs 2.89 crore. The lease includes a 10% rent escalation every three years.
Why it matters
This lease highlights the growing commercial real estate market in Pune.
Key points
- Farida Pankaj Udhas leased a 3,347 sq ft property in Pune to ICICI Bank.
- The lease is for nine years with a total rent of Rs 2.89 crore.
- Monthly rent is set at Rs 2.50 lakh, with a 10% increase every three years.
- The lease agreement includes a 105-day rent-free period and a six-month lock-in.
- ICICI Bank has paid a security deposit of Rs 10 lakh.
Key insights
- The lease agreement reflects the demand for commercial spaces in Pune.
- ICICI Bank's investment indicates confidence in the Pune market.
- The property is strategically located near key employment centers.
AI Quick Summary
Farida Pankaj Udhas leases a Pune property to ICICI Bank for Rs 2.89 crore over nine years.
Source
Times of India
