IKEA's First Pune Store to Land in Viman Nagar with ₹38 Lakh Monthly Rent

IKEA India Pvt. Ltd. has leased 37,259 sq. ft. of space on the ground floor of Phoenix Marketcity Mall in Viman Nagar, Pune, as per the news reports. The lease agreement, signed on October 15, 2025, is for 4 years and 11 months. The company will pay a starting monthly rent of ₹38.11 lakh, which will rise to ₹42.70 lakh from the 37th month. 

Location and Property Information

The rented space, listed as Unit G-01 at Phoenix Marketcity, is owned by Vamona Developers Pvt. Ltd., part of the Phoenix Mills Group. The mall is among Pune’s busiest retail destinations and houses several global and domestic brands. IKEA’s lease covers a property located on Viman Nagar Road, within the Lohegaon area.

IKEA’s Retail Network in India

This will be IKEA’s 6th store in India and the first in Pune. The company currently operates three large-format stores in Hyderabad, Bengaluru, and Navi Mumbai, along with smaller “city stores” in Mumbai’s Worli area and Delhi’s Pacific Mall. The brand had earlier closed its Ghatkopar store in Mumbai as part of a consolidation plan.

IKEA’s Operations in Pune

Before setting up a physical outlet, IKEA launched its e-commerce operations in Pune in January 2020. The city was the second market in India to gain full access to IKEA’s online range. Many customers from Pune have also been visiting the Navi Mumbai store since it opened, given the short travel distance between the two cities.

Distribution and Logistics

The company operates a distribution centre in Chakan, near Pune, to serve its western and southern markets. For northern India, IKEA relies on an outsourced distribution facility in Haryana that supports its upcoming stores in the National Capital Region.

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Conclusion

The new Pune store adds to IKEA’s growing retail network in India, combining physical presence with existing online services in key urban markets.

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