India, March 13 -- Swedish home furnishings giant IKEA India Pvt. Ltd has opened its first store in Pune, Maharashtra, spanning more than 32,000 sq ft at Phoenix Marketcity Mall on Viman Nagar Road. The outlet marks the company's sixth store in India.

The company leased the space for a total rent of Rs.23.54 crore for a period of four years and 11 months, according to property registration documents accessed by CRE Matrix.

"The company wanted to take this opportunity to share that they've officially opened doors to the homes and hearts of Punekars with the very first city store at Phoenix Mall, Viman Nagar, on March 12. Spread across 32,000 sq ft., the store makes it convenient for customers to explore and shop for their homes- bringing...