Cinema VinesICICI Bank Limited has signed a nine‑year lease for 3,347 square feet of commercial space in Pune’s Farena Corporate Park, located on the first floor of the building on Mundhawa Road in Hadapsar. The lease was formally registered on 17 September 2026, the same day it takes effect, and the bank will pay a total rent of about ₹2.89 crore over the life of the agreement.
Under the terms, the monthly rent is set at ₹2.50 lakh, which translates to roughly ₹74.69 per square foot based on the registered carpet area. The rent is scheduled to increase by 10% every three years, and the contract includes a 105‑day rent‑free period at the beginning of the lease. A security deposit of ₹10 lakh has also been paid by the bank.
The leased premises come with four car parking spaces and 15 two‑wheeler parking spots. The agreement contains a six‑month lock‑in period during which both parties must adhere to the conditions outlined in the registered document.
The property owner is Farida Pankaj Udhas, the widow of late ghazal legend Pankaj Udhas. While the bank has confirmed the transaction, Farida Pankaj Udhas could not be reached for comment. The deal adds to a series of high‑profile office leases in Pune, including a recent transaction by State Bank of India for a large block of land and built‑up space in Kharadi Knowledge Park.
