Pune’s New Era: Flexible Workspaces Redefine Corporate Real Estate

A Landmark Lease in Pune’s Tech Hub

In a move that underscores the growing momentum of flexible workspaces in India, 315Work Avenue has leased 50,000 sq ft of premium office space to METRO Global Solutions Center Pvt Ltd (MGSC) at International Tech Park Pune (ITPP) in Kharadi. This landmark transaction not only solidifies 315Work Avenue’s presence in Pune’s thriving IT corridor but also highlights the city’s emergence as a key destination for modern, agile workplaces.

Setting the Stage for Collaboration and Innovation

Situated in Kharadi, a vibrant IT hub on Pune’s North Eastern corridor, ITPP is a Grade A commercial development by Ascendas-Singbridge, spanning 2.5 million sq ft and offering world-class infrastructure. The park’s proximity to Pune Lohegaon International Airport further enhances its appeal, making it a strategic choice for multinational corporations and dynamic enterprises alike.

A Growing Footprint for 315Work Avenue

With this latest lease, 315Work Avenue now operates six centers in Pune, collectively spanning 0.6 million sq ft and providing approximately 12,000 seats. The company’s partnerships with leading developers such as Ascendas, Panchshil, and Raheja reflect its commitment to delivering best-in-class workspaces tailored to the evolving needs of today’s businesses. Nationally, 315Work Avenue manages 3 million sq ft and 60,000 seats across 45 locations in Bengaluru, Chennai, Hyderabad, Mumbai, and Pune.

The Rise of Flexible Workspaces

Manas Mehrotra, founder of 315Work Avenue, notes, “We continue to see a significant rise in demand for co-working spaces from corporates of all sizes. Flexible workspace has become a key component in their real estate portfolio, enhancing employee productivity, fostering collaboration, and optimizing operational costs by scaling up or down as per business requirements.” This trend is mirrored across the country, as businesses increasingly prioritize agility, cost-efficiency, and collaborative environments.

A Vision for the Future

According to JLL, flexible workspaces accounted for 20% of India’s office leasing in 2024, with the segment expected to exceed 100 million sq ft across the top seven cities by 2026. This rapid growth is driven by a diverse mix of industries, including IT-BPM, engineering, and professional services, all seeking adaptable solutions in a dynamic business landscape.

Anchoring Pune’s Growth Story

As Pune continues to attract global enterprises and innovative startups, flexible workspaces are redefining the city’s commercial real estate narrative. 315Work Avenue’s latest lease with MGSC is a testament to this transformation, positioning Pune as a leading hub for modern, collaborative workspaces that empower businesses to thrive in an ever-changing world.