BENGALURU: ICE MT India Pvt. Ltd, a subsidiary of US monetary providers agency Intercontinental Alternate Inc., has opened a 193,053 sq. ft international functionality centre (GCC) at Pune’s Magarpatta Cybercity enterprise park.
The corporate pays a month-to-month lease of ₹1.73 crore, based on lease paperwork accessed by actual property information analytics agency Propstack. The settlement features a 15% lease escalation each three years.
The US-headquartered agency, which gives digital know-how, software program and information providers for the residential mortgage business, has leased the area from Axis Max Life Insurance coverage Ltd for a nine-year time period.
“This transaction by ICE MT India reinforces the continued strong demand from international functionality centres for large-format workplace areas in Pune. The nine-year tenure and substantial deal worth sign long-term confidence within the Magarpatta micro-market as a premier IT hall,” stated Raja Seetharaman, cofounder, Propstack.
Mint couldn’t instantly attain ICE MT India for remark.
GCCs are more and more reshaping India’s business workplace market, with leasing by such companies touching a file 31 million sq. ft in 2025, up from 28 million sq. ft a yr earlier. IT-led cities together with Bengaluru, Hyderabad, and Pune proceed to drive demand, although exercise is regularly increasing past main metros.
Whereas Bengaluru leads GCC workplace leasing, adopted by Hyderabad, Pune has accounted for 15–20% of nationwide GCC exercise over the previous 4 years. The town has attracted multinational firms as a consequence of quality-of-life benefits, expertise availability and sectoral positioning, based on property advisory JLL India. Pune has emerged as a powerful hub throughout banking, monetary providers and insurance coverage (BFSI), automotive, IT/ITeS, manufacturing and engineering providers.
Whereas Bengaluru leads GCC workplace leasing, adopted by Hyderabad, Pune has accounted for 15–20% of nationwide GCC exercise over the previous 4 years. The town has attracted multinational firms as a consequence of quality-of-life benefits, expertise availability and sectoral positioning, based on property advisory JLL India. Pune has emerged as a powerful hub throughout banking, monetary providers and insurance coverage (BFSI), automotive, IT/ITeS, manufacturing and engineering providers.
“India’s GCC panorama has developed, shifting past easy value arbitrage to leverage every metropolis’s distinctive strengths. With over 90% of present GCC exercise concentrated in Tier I cities, these centres have commanded greater than 263 million sq ft of Grade A workplace inventory throughout the highest seven cities, whereas driving 40% of all workplace leasing exercise over the previous decade,” stated Samantak Das, chief economist and head of analysis and REIS, India, JLL.
Greater than 200 new GCCs have entered India prior to now two years, with projections indicating the overall GCC footprint will surpass 350 million sq. ft inside the subsequent three to 4 years. A lot of this growth has been pushed by US-headquartered companies, which accounted for 70% of GCC demand between 2018 and 2025.