Swedish home furnishings giant IKEA is opening its Pune store soon at the Phoenix Marketcity Mall in Viman Nagar.
A Reddit user shared a picture on the app with a massive poster saying, "Hej Pune! We're coming soon."
Hej is a Swedish word for "hello" and is a common greeting at IKEA stores, reflecting the company's Swedish origins.
The store is located on the ground floor of the mall with a total area of 37,259 sq ft.
According to property registration documents accessed by CRE Matrix, the area has been leased for a total rent of ₹23.54 crore for 4 years and 11 months. The starting monthly rent is ₹38.11 lakh for the first 36 months, which will increase to ₹42.69 lakh for the remaining period.
As per the documents accessed, a stamp duty of ₹6,26,800 was paid for the transaction, along with a registration fee of ₹1,000.
Additionally, the company will pay common area maintenance charges of ₹7.45 lakh per month for the first 36 months, which will increase to ₹8.34 lakh per month for the remaining period, as per the documents.
Moreover, the company will pay a security deposit of ₹2.28 crore for the entire lease transaction, followed by a common area maintenance deposit of ₹44.71 lakh, according to the documents.
An IKEA spokesperson said, “Pune has been an important market for IKEA India and we’ve witnessed strong demand. IKEA launched e-commerce presence in Pune in January 2020, making it the second market in India to access the full IKEA range online before a physical store opened. With its proximity to Navi Mumbai, many customers from Pune have also embraced the IKEA Navi Mumbai store experience.”
“Pune continues to be a priority market for IKEA, and we are now excited to offer a more dynamic experience through an omnichannel presence in the city, starting with a city store. We will be able to share more details once we are ready to announce,” the spokesperson added.
