India, Oct. 24 -- Swedish home furnishings giant IKEA India Private Limited has leased 37,259 sq ft of retail space at Phoenix Marketcity Mall, Viman Nagar Road, Pune, for a total rent of Rs.23.54 crore for 4 years and 11 months, according to property registration documents accessed by CRE Matrix.

The ground-floor space will have a starting monthly rent of Rs.38.11 lakh for the first 36 months, increasing to Rs.42.69 lakh for the remaining period.

The agreement was signed on October 15, 2025 between IKEA India Ltd. and Vamona Developers Private Limited, of Phoenix Mills Ltd.

A stamp duty of Rs.6,26,800 was paid for the transaction, along with a registration fee of Rs.1,000, as per the documents.

The monthly rent will commence on Febru...