Citigroup has made a big move by renting 7.7 lakh square feet of office space in Kharadi, Pune. This deal is worth Rs 1,100 crore and will last for 10 years. This is the largest office leasing deal in India for 2023, showing that many companies still want office space even when the global economy is uncertain.

The lease started on April 1 and covers 10 floors in a well-known building called Panchshil Business Hub. This space will be used for Citigroup's important work in risk management, IT services, and analytics. They'll pay between Rs 2.02 crore and Rs 2.71 crore in rent every month, with a plan to increase rent by 15% every 3 years because of rising costs and market value.

Citigroup also has a lot of parking for its employees. They've 770 parking spots for cars and 1,185 for bikes. This ensures that all employees have a place to park and helps follow local rules for buildings.

The company that signed this lease is Citicorp Services India, which helps manage Citigroup's work around the world. Choosing Kharadi shows that Pune is becoming an important place for technology and finance, with great facilities and skilled workers available.

This large deal shows that Citigroup is serious about growing its business in India. The 10-year lease gives both Citigroup and the building owner security, and the planned rent increases help keep the deal valuable over time.