Pankaj Udhas’ wife leases out 3347sq feet commercial property in Pune with a total rent of Rs 2.89 crore: Report |

Late ghazal singer Pankaj Udhas’ wife, Farida Pankaj Udhas, has leased out a 3,347 sq ft commercial property in Pune to ICICI Bank for nine years. According to property registration documents accessed by CRE Matrix, the deal involves a total rent of around Rs 2.89 crore over the lease period.The property is located on the first floor of Farena Corporate Park on Mundhawa Road in Hadapsar, Pune. It has been leased at a monthly rent of Rs 2.50 lakh, which works out to around Rs 74.69 per sq ft based on the registered carpet area.The lease agreement was registered on September 17, 2026, which is also the date on which the lease commenced. The nine-year agreement includes a 10% rent escalation every three years. Based on the initial monthly rent and the agreed escalation, the total rental outgo over the full tenure is estimated at around Rs 2.89 crore, excluding the rent-free period and other applicable charges.As per the registration documents, ICICI Bank has paid a security deposit of Rs 10 lakh. The premises also include four car parking spaces and 15 two-wheeler parking spaces.The agreement provides for a total rent-free period of 105 days and includes a six-month lock-in period. Both parties will be bound by the terms and conditions specified in the registered lease agreement.Farena Corporate Park is situated along Mundhawa Road in Hadapsar, an established commercial and residential corridor in eastern Pune. The area has emerged as a prominent mixed-use hub due to its proximity to key employment centres, residential developments and connectivity to other parts of the city.An email query has been sent to ICICI Bank seeking a comment. The story will be updated if a response is received. Farida Pankaj Udhas could not be reached for comment.Rs 414 crore Pune property dealThe development comes soon after another significant banking sector property transaction in Pune. In August 2026, the State Bank of India (SBI) acquired 8,581 sq m, or around 92,000 sq ft, of leasehold land along with 1.83 lakh sq ft of built-up space spread across 15 floors at Pune’s Kharadi Knowledge Park for Rs 414 crore, according to property registration documents accessed by CRE Matrix.The transaction is among the largest office asset deals involving a bank. The purchase gives SBI leasehold rights to the land as well as outright ownership of the 17,078.56 sq m, or around 1.83 lakh sq ft, building standing on the plot.The building comprises a basement, stilt and 15 floors and has 200 car parking spaces. The transaction was registered on August 14, 2026, with Siddhivinayak Enterprises as the assignor and SBI as the assignee.