Google has leased 1 lakh square ft of flexible office space in Pune’s Mundhwa area. The 1-million square feet of google office in Pune is spread across three blocks and was leased for 12 years. The property, located at Vikram Das Marg, has all the facilities, like power backup, water supply, and a sewage treatment facility. This property is part of the company’s global office real estate strategy across multiple geographies in India and abroad.
The lease agreement was signed between the two companies last week. The first phase of this project has been completed and occupied by Google Cloud Services India Pvt Ltd (GCSI), as per an official press release issued by GCSI on Tuesday evening.
Google chose the property because it’s close to Pune International Airport, which allows employees easy access to business meetings outside of their offices as well.
The property also has ample parking for its tenants, as well as onsite amenities such as cafes and restaurants that can be used by employees during work hours.
Facilities
- Power backup: The property has a power backup of 5,000 volts.
- Water supply: Water is provided to the tenants by an on-site water treatment plant at a cost of Rs 8 per month.
- Sewage treatment facility: The project includes a separate sewage treatment plant and all hotels are connected directly to this system.
The sewage treatment plant is equipped with a membrane bioreactor (MBR) and other technology to ensure that the treated water meets the standards set by the government. The treated water is used for flushing toilets and washing vehicles.
The new office of Google
Google India is a subsidiary of Google Inc. It is the largest online search provider in India, with over 500 million users across its websites—Google Search, Gmail, Maps, and YouTube among them.
In July 2017, it opened a new office in Pune’s Mundhwa region (the first time it had opened an office outside of Bangalore). The company said that this location would give them better accessibility to clients who work in Pune as well as other parts of Maharashtra state.
Google had leased about 9,000 square ft at Phoenix Tower and another 6,300 sq ft at Leisure World in the past few years, but now it has increased its footprint to over 14 acres with this latest allotment.
The new facility will be used by Google to accommodate its growing workforce in India. The company started with 1,000 employees and is expected to grow further as it expands its operations in the country.
The company has been looking at expanding its presence across the country, especially in tier-2 and tier-3 cities. This includes Google office space in the Pune Mundhwa area, where it has leased 1 lakh sq ft for office use by 2019.
The company wants to set up its own offices in these regions so that it can attract talent from local colleges and universities, who then get trained on IBM’s technology platform.
The company has been looking at expanding its presence across the country, especially in tier-2 and tier-3 cities to buy commercial offices in Pune.
Conclusion
Corporate real estate is a highly profitable business, so it should not be surprising that technology companies are investing heavily in it. The real estate market has been growing at a healthy pace in India, with an estimated occupancy of 70 percent by 2020.
This is expected to further increase as more corporate offices are being built across the country. With technology companies such as Google investing heavily in real estate, the demand for commercial space will continue to grow and there are sure to be many winners from this trend.
