Most large Indian IT parks are built by Indian developers – DLF, K Raheja, Embassy, RMZ, Mindspace. International Tech Park Pune Kharadi is one of the few exceptions. The campus is owned and operated by Singapore-headquartered CapitaLand Investment, funded by the Ascendas India Growth Programme with Singapore’s sovereign wealth fund GIC as the principal investor. That single fact – a foreign developer running a Grade A asset in Kharadi – explains almost everything about how the park is built, who it has leased to, and why it commands the rents it does.
If you are a tenant evaluating Kharadi for a new India centre, or a 20-person team looking at flexible coworking options in Kharadi within the ITPP catchment, this guide covers the layout, the confirmed tenant list, how ITPP Kharadi stacks up against EON Free Zone next door, and what the realistic office options look like at different team sizes.
What is International Tech Park Pune Kharadi? International Tech Park Pune Kharadi (ITPP-K) is a 2.7 million sq ft Grade A IT campus on 16.5 acres in Kharadi, Pune. Built by Singapore’s CapitaLand Investment through its Ascendas India Growth Programme fund, the park houses three office blocks and is designed for 30,000+ IT professionals at full capacity.
International Tech Park Pune Kharadi at a glance
ITPP Kharadi is a 16.5-acre, 2.7 million sq ft campus that commenced operations in May 2023, with CapitaLand reporting roughly 80% of Phase 1 already committed at handover. Even allowing for the usual gap between letters of intent and signed leases, that absorption is among the fastest for any new Pune IT park in the last five years and signals how the market read the asset before it opened.
The headline numbers are worth keeping in one place:
- Developer: CapitaLand Investment Limited (Singapore), through the Ascendas India Growth Programme.
- Principal investor: GIC, Singapore’s sovereign wealth fund.
- Land: 16.5 acres.
- Built-up area: 2.7 million sq ft, with potential to scale to 3 million sq ft.
- Project cost: Approximately ₹17.5 billion (S$311 million), per CapitaLand’s public disclosures at the time of the Ascendas India Growth Programme’s investment commitment.
- Blocks: Three office blocks (Block 1, Block 2, Block 3).
- Capacity: 30,000+ IT and ITES professionals at full build-out.
- Sustainability: LEED Gold registered.
- Location: Off Nagar Road, Kharadi, opposite EON Free Zone, about 8 km from Pune airport.
The campus sits in the heart of Kharadi’s IT belt, which over the last decade has become Pune’s primary destination for global captive centres – especially BFSI, analytics and engineering R&D occupiers. The wider context on IT parks driving coworking demand in Pune applies directly here: more tenants on the campus pulls in more support workforce, which pulls in more flexible workspace inventory in the surrounding catchment.
Quick Recap: ITPP Kharadi is a 2.7 million sq ft, 16.5-acre LEED Gold campus that opened in May 2023 with 80% of Phase 1 already leased.
CapitaLand and Ascendas: who built ITPP and why it matters
CapitaLand is one of Asia’s largest real estate investment managers, headquartered in Singapore and majority-owned by Temasek. The Ascendas tech-park brand – which CapitaLand acquired in 2019 – runs business parks across India, Singapore, China, South Korea and Vietnam. In India alone, CapitaLand operates 12 business parks across Bangalore, Chennai, Hyderabad, Mumbai and two locations in Pune (Hinjewadi and Kharadi).
Why does this matter to a prospective tenant? Three reasons.
First, foreign-developer assets in India tend to be built and run closer to international Grade A standards. The brief, the architects, the facilities-management vendors and the leasing approach all draw from a global template rather than an Indian one. For multinational tenants who run a Singapore or US headquarters, that consistency is part of why they shortlist ITPP at all.
Second, the capital structure shapes the tenant mix. The Ascendas India Growth Programme is a private fund – GIC is the anchor LP – which means the asset is held for long-term yield, not flipped. That patient capital lets CapitaLand lease selectively to anchor occupiers rather than chasing fill-rate at any rent. The 80% pre-lease at launch was a function of curated demand, not a fire sale.
Third, the development pipeline. CapitaLand has stated public intent to scale its India business-park footprint, and ITPP Kharadi is the newer, premium sister to the older ITPP Hinjewadi. If you are negotiating space here, you are negotiating with a counterparty that is committed to the asset for decades.
Quick Recap: ITPP is owned by Singapore’s CapitaLand and funded by GIC, which gives it global Grade A standards, patient capital and a curated tenant strategy.
The three blocks: layout, sizes and what sits inside
ITPP Kharadi is laid out across three office blocks on a single 16.5-acre plot, with shared landscaping, food courts, parking basements and a central campus spine. Phase 1 – which opened in May 2023 – included Block 1 and Block 2. Block 3 was added subsequently to round out the 2.7 million sq ft footprint.
Each block is a multi-wing tower with large, mostly column-free floor plates that the leasing team markets in the 35,000-50,000 sq ft range per wing. That floor-plate size is deliberate – it suits global captives that need 200-500 contiguous seats per floor rather than fragmented occupancy split across stacks. Double-glazed facades reduce solar heat load and cut HVAC running costs, which is part of why the LEED Gold registration was achievable.
Campus amenities include:
- An urban farm on the property.
- Rooftop solar panels feeding common-area loads.
- Food courts and F&B outlets across blocks.
- Multi-level basement parking.
- EV charging points.
- Rainwater harvesting and organic waste converters.
- LED and motion-sensor lighting throughout common areas.
The layout is denser than the sprawling, multi-tower campuses at EON Free Zone or Hinjewadi’s larger parks – 2.7 million sq ft built on 16.5 acres works out to roughly 3.75x FSI utilisation, well above the typical Pune IT-park average – but the trade-off is that everything stays within a five-minute walk on the central spine.
Quick Recap: Three towers, 35,000-50,000 sq ft floor plates, shared amenities including urban farm, rooftop solar and food courts on a tight 16.5-acre plot.
Companies inside ITPP Kharadi: the tenant map
The tenant roster at ITPP Kharadi skews heavily towards global captives, BFSI-adjacent analytics, engineering R&D and managed-workspace operators. This is what 80% pre-leasing at launch actually looked like on the ground.
| Company | Sector | What they do at ITPP |
|---|---|---|
| Acuity Knowledge Partners | Research and consulting | Financial research and advisory delivery centre serving global investment banks and asset managers. |
| Bharti Airtel | Telecom | Technology and operations functions for the telecom business. |
| Deloitte | Professional services | Consulting and audit support teams, part of Deloitte’s India delivery network. |
| Hewlett Packard Enterprise (HPE) | Enterprise tech | Engineering, R&D and global business services. |
| NielsenIQ | Consumer analytics | Global capability centre for retail and consumer measurement analytics. |
| SAP Labs | Engineering R&D | Product engineering for SAP’s enterprise software stack. |
| Sulzer | Industrial engineering | Engineering services hub for the Swiss industrial group. |
| Whirlpool India | Consumer durables | R&D and shared services for the home-appliances business. |
| ZS Associates | Analytics consulting | Analytics and consulting delivery centre, primarily for pharma and life sciences clients. |
| 315 Work Avenue | Flexible workspace | Managed and serviced offices inside the campus for smaller teams that can’t take direct leases. |
Other confirmed names include PTEC Technology Solutions and Tablespace, which operates a second managed-workspace footprint in the park. The presence of two flex operators inside a premium tech park is unusual – most CapitaLand peers in Bangalore and Hyderabad host only one. It reflects an explicit strategy: anchor the park with large captives, then offer flex inside the campus for their vendors, satellite teams and project-based hires.
Quick Recap: Tenants skew to global captives, BFSI analytics and engineering R&D, with two flex operators (315 Work Avenue, Tablespace) handling smaller-team demand inside the campus.
ITPP Kharadi vs EON Free Zone: which Kharadi park fits which tenant
The most useful comparison for any Kharadi-bound tenant is ITPP versus EON IT Park next door. The two sit on opposite sides of Nagar Road and target overlapping but distinct occupier profiles.
| Attribute | ITPP Kharadi | EON Free Zone |
|---|---|---|
| Developer | CapitaLand Investment (Singapore) | Panchshil Realty (Pune) |
| Land area | 16.5 acres | 57 acres |
| Built-up area | 2.7 million sq ft (3 blocks) | 5.6 million sq ft (multiple blocks) |
| Year operational | May 2023 (Phase 1) | Operational since 2008 |
| Layout | Dense, 3-block, shared central spine | Sprawling, multi-tower campus |
| SEZ status | Non-SEZ | SEZ (Free Zone) |
| Tenant profile | Global captives, BFSI analytics, R&D, ESG-conscious occupiers | IT services majors, GICs, mixed scale |
| LEED rating | Gold (registered) | Multiple LEED-rated buildings |
| Best fit for | New India captives wanting a single-park identity with global standards | Tenants needing SEZ tax benefits and large contiguous floor plates |
The simplest decision rule: if you are setting up an India centre and want a foreign-developer asset with patient capital and a curated neighbour mix, ITPP is the obvious choice. If you need SEZ tax treatment for export revenue, EON Free Zone is the only one of the two that gives you that. Many tenants also pick on availability – ITPP’s small footprint and high pre-lease rate mean ready space is harder to find here than at EON.
Quick Recap: ITPP is the foreign-developer, captive-led, non-SEZ option; EON is the larger SEZ campus with broader floor availability.
Office-space reality at ITPP Kharadi: rents, leases and who can move in
Direct leases at ITPP Kharadi are aimed at large occupiers. The campus does not chase 5,000-15,000 sq ft cellular take-up; the leasing strategy is full-wing and full-floor commitments to credit-worthy tenants on long-tenor leases (typically 5+ 5+ 5 years).
What you should know if you are evaluating a direct lease:
- Minimum take-up: Practically full-floor or larger, often 35,000 sq ft and above. Smaller asks get redirected to the flex operators inside the campus.
- Lease tenure: Five-year primary term is the norm, with two renewal options of five years each.
- Rent escalation: Typically 15% every three years, in line with prevailing Pune Grade A market practice we see across recent ITPP and EON deals; final escalations are negotiated case by case.
- Fit-out: Warm-shell handover is standard – tenants bring their own interiors, often using CapitaLand’s empanelled contractor list to stay within the campus’s MEP and facade specifications.
- Security deposit: Six to twelve months of rent, refundable, with the actual band set by tenant covenant strength and lease tenure.
Quoted rents at ITPP are at the upper end of the Kharadi Grade A range, reflecting the developer brand, LEED Gold registration and the quality of the existing tenant mix. The campus is not the cheapest box per square foot in Kharadi – but it is rarely on the shortlist of tenants chasing the cheapest box.
Note: Lease structures, rent escalations and SEZ-related tax treatment can change with market conditions and policy updates. Verify the current terms with a registered property advisor or your tax counsel before committing.
Quick Recap: Direct leases at ITPP are full-floor minimums on 5+5+5 terms, warm-shell handover, with rents at the top of Kharadi’s Grade A band.
Flexible workspace options near ITPP Kharadi
If your team is smaller than 100 seats, a direct lease inside ITPP is unlikely to be the right path. The realistic options fall into two buckets: take seats with 315 Work Avenue or Tablespace inside the campus itself, or pick a managed workspace in the broader Kharadi catchment within a 5-10 minute drive.
The wider Kharadi locality has dense flexible-workspace inventory across operators like Smartworks, WeWork, Awfis, Cowrks and several boutique operators – serving the ITPP, EON and World Trade Center demand pool together. Pricing in the locality runs ₹5,999-22,000 per seat per month for dedicated coworking, with private cabins and managed offices priced separately.
If shortlisting operators and negotiating across all of them sounds like a lot of work for a 20-50 seat requirement, myHQ’s workspace advisors handle the comparison and price negotiation across 168 listings in Kharadi at zero brokerage, and typically secure an average 15% discount on listed prices. Teams of six or more desks can request a free consultation.
For a wider price view across the city, you can also read our breakdown of coworking space cost in Pune by locality and check all the coworking spaces across Pune.
Quick Recap: Teams under 100 seats either take flex inside ITPP via 315 Work Avenue or Tablespace, or pick a managed workspace in the wider Kharadi catchment at ₹5,999-22,000 per seat.
Frequently Asked Questions
Who built International Tech Park Pune Kharadi?
ITPP Kharadi was built and is owned by CapitaLand Investment Limited, headquartered in Singapore. The asset is held through the Ascendas India Growth Programme, a private fund whose principal investor is GIC, Singapore’s sovereign wealth fund. CapitaLand acquired the Ascendas tech-park brand in 2019 and operates 12 business parks across six Indian cities.
What companies are inside ITPP Kharadi?
Confirmed tenants include Acuity Knowledge Partners, Bharti Airtel, Deloitte, Hewlett Packard Enterprise, NielsenIQ, SAP Labs, Sulzer, Whirlpool India, ZS Associates and PTEC Technology Solutions. Flex operators 315 Work Avenue and Tablespace run managed workspaces inside the campus for smaller teams and project-based hires that cannot commit to full-floor direct leases.
How is ITPP Kharadi different from EON IT Park?
ITPP Kharadi is a 16.5-acre, 2.7 million sq ft non-SEZ campus built by CapitaLand and opened in 2023. EON Free Zone is a 57-acre, 5.6 million sq ft SEZ campus built by Panchshil and operational since 2008. ITPP is denser and newer with a captive-heavy tenant mix; EON offers SEZ tax benefits and broader floor availability.
When did ITPP Kharadi commence operations?
Phase 1 of ITPP Kharadi commenced operations in May 2023 with the first two office blocks. At the time of launch, around 80% of Phase 1 space was already pre-leased to anchor tenants. Block 3 was added subsequently to complete the 2.7 million sq ft footprint envisaged in the original master plan.
Is ITPP Kharadi a SEZ?
No, ITPP Kharadi is not a Special Economic Zone. It is a non-SEZ Grade A IT campus. Tenants that need SEZ tax treatment for export revenue typically look at EON Free Zone next door, which holds SEZ status. Non-SEZ status at ITPP does not affect day-to-day operations but does change the indirect-tax treatment for export-oriented occupiers.
Can a small team get office space inside ITPP Kharadi?
Direct leases at ITPP are aimed at large occupiers taking full floors of 35,000 sq ft or more. Smaller teams can still get space inside the campus by taking seats with 315 Work Avenue or Tablespace, both of which run managed workspaces within the park. Alternatively, the wider Kharadi catchment offers flex options within a short drive.
Conclusion
International Tech Park Pune Kharadi is best understood as a Singapore-developer asset dropped into Pune’s busiest IT corridor. CapitaLand’s patient capital, Ascendas tech-park playbook and curated tenant mix give the campus a distinct identity even on a street that already houses EON Free Zone and the World Trade Center. The 2.7 million sq ft footprint, three-block layout, LEED Gold credentials and concentration of global captives are all expressions of that single underlying fact – this is not how most Indian IT parks are built.
If your team is large enough to take a full floor, ITPP is one of the strongest Grade A options in Pune today. If you are smaller, the campus still gives you access through 315 Work Avenue and Tablespace, and the broader Kharadi flex inventory sits within a 10-minute drive – shortlistable in a single sitting on myHQ’s Kharadi page.
