Axis Commercial Real Estate Fund and Tishman Speyer have entered into a strategic partnership with Kasturi Housing to jointly develop a Grade-A commercial and IT office project in Balewadi, Pune.

Khaitan & Co advised Axis Commercial Real Estate Fund and Tishman Speyer on this partnership.

The transaction team consisted of Deepak Jodhani (Partner), Gautam Suseel (Partner) and Amulya Sharma (Principal Associate), with support from Devendra Deshmukh (Partner) and Anirudh Jakhotia (Principal Associate) on title / real estate aspect of the transaction.

The project is valued at ~₹1,700 crore and will deliver around 1 million sq ft of premium office space in Pune. Tishman and Axis will jointly hold 50% stake, while Kasturi Housing retains the rest. The development is positioned to meet growing demand for high-quality office infrastructure in Pune — especially from technology and corporate services firms and is expected to set a new benchmark in commercial real estate supply in the region.

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