Crisil Secures Prime Office Space in Mumbai with a 15-Year Lease
Crisil, a global analytics firm, has leased 2.5 lakh square feet of office space in Lightbridge, Saki Vihar, Mumbai, for a total rent of ₹597.3 crore over 15 years.
CrisilOffice SpaceMumbaiLeaseReal EstateReal Estate MumbaiOct 09, 2025
Crisil has leased floors 10 to 15 in the property and will pay a monthly rent of Rs 2.35 crore, translating to Rs 94 per square foot per month. The rent will escalate by 4.77 per cent annually. The company has also paid a security deposit of Rs 38.20 crore to the landlords, Nathan Properties Private Limited and Gamma Construction Private Limited. The lease commenced on August 31, 2025.
Meanwhile, Cowrks, a co-working operator owned by Brookfield, has leased 1.76 lakh square feet of space in Crisil House (One Downtown Central), Powai. The firm has taken the premises for seven months and will pay a monthly rent of Rs 3.88 crore, equivalent to Rs 220 per square foot per month.
Cowrks has leased the ground floor and floors three to nine from Kairos Properties Private Limited. The lease began on September 1, 2025, and Cowrks will undertake fit-out work for managed office services during the tenure.
Saki Vihar has emerged as a prime commercial real estate micro-market in Mumbai, housing several multinational and domestic corporates. The average rent for commercial office space on Saki Vihar Road is currently estimated at Rs 132 per square foot per month as of October 2025, up slightly from Rs 130 per square foot per month in October 2024, according to data from Magicbricks.
Similarly, Powai—another key commercial micro-market in the Mumbai Metropolitan Region (MMR)—has seen a steady rise in office rents. The average rent in the locality increased from Rs 121 per square foot per month in October 2024 to Rs 131 per square foot per month in October 2025, reflecting healthy demand for quality office spaces in the area.
Frequently Asked Questions
What is the total rent Crisil will pay over the 15-year lease term?
Crisil will pay a total rent of ₹597.3 crore over the 15-year lease term.
How much monthly rent will Crisil pay for the leased space?
Crisil will pay a monthly rent of ₹2.35 crore.
What is the annual rent escalation rate for Crisil's lease?
The annual rent escalation rate for Crisil's lease is 4.77 per cent.
Which floors has Crisil leased in Lightbridge, Saki Vihar?
Crisil has leased floors 10 to 15 in Lightbridge, Saki Vihar.
What is the average rent for commercial office space in Saki Vihar as of October 2025?
The average rent for commercial office space in Saki Vihar as of October 2025 is ₹132 per square foot per month.
Related News Articles
Tier-2 Cities Witness 10-15% Growth in Property Prices, Outperforming Metros
Tier-2 cities in India are rapidly closing the gap with Tier-1 cities, driven by economic diversification, rising consumer demand, and reverse migration patterns.
Boosting India's Real Estate Sector: Expectations from Union Budget 2024-25
Industry experts emphasize the need for enhanced tax incentives, single window clearance, and infrastructure development to drive growth and stability in the real estate sector.
Bajaj Housing Finance Q2 FY25: Profit Rises 21% YoY to Rs 546 Crore, Revenue Up 26%
Earlier in the day, Bajaj Housing shares settled 1.97 percent lower at Rs 136.55.
Trump Towers: A Project Set to Revolutionize the Indian Real Estate Market
As the Indian real estate market continues to evolve, one of the most ambitious projects on the horizon is Trump Towers. Licensed partner in India reveals plans to generate ₹15,000 crore in sales over the next 4-6 years, making it a landmark development i
India's Luxury Housing Market Booms: A ₹279,000 Crore Surge
India's luxury housing market is witnessing a significant surge, driven by affluent buyers who are increasingly seeking exclusivity and high-end living. Key cities like Mumbai, Delhi-NCR, and Bengaluru are leading this trend, with a substantial increase i
10 Lakhs in Bengaluru, Mumbai, and Delhi: What You Can Buy in the Real Estate Market
Discover what 10 lakhs can get you in the real estate markets of Bengaluru, Mumbai, and Delhi, according to a recent report by Knight Frank. Explore the current property trends and investment opportunities in these major Indian cities.