E-commerce major Amazon Development Center (India), a provider of software and support services, has leased a nearly 200,000 SqFt office facility in the information technology (IT) special economic zone (SEZ) Gera Commerzone in Pune’s Kharadi neighborhood.
The company has decided to lease the four-story office space for ten years at a total cost of approximately INR 208 crore, including rental escalations.
The agreement states that after every three years, the monthly rent will increase by 15%. Amazon Development Center (India) will also have a three-year lock-in period as a tenant.
Amazon Development Center (India), in accordance with the documents retrieved by Propstack, paid INR 1.79 crore in stamp duty for the lease transaction that was completed and registered on January 13, 2023.
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