Goldman Sachs Leases Massive Office Space in Mumbai's Worli for ₹2 Crore+ per Month
Goldman Sachs has leased over 73,000 sq ft of office space in K Raheja's Acentia project for ₹2 crore+ per month.
Goldman SachsK Raheja Pvt LtdOffice LeasingMumbaiWorliReal Estate MumbaiSep 13, 2024
The facility comes with 59 car parkings, and the building is spread across 10 floors and is located on prime Annie Besant Road next to the Metro station. The starting monthly rent works out to be ₹280 per month.
The agreement was signed on September 5, 2024, and the lease period is for 10 years with an option to further increase by five plus five years. The lease commencement date is August 1, 2024. The lock-in period is 48 months from the lease commencement date which is September 1, 2025.
Maintenance charges amount to ₹25 per sq ft per month. Goldman Sachs and K Raheja Pvt Ltd did not comment on the deal.
This is not the first time Goldman Sachs has leased a large office space in India. In July 2023, the company had leased nine floors spread across an area of 3.5 lakh square feet (sq ft) in Hyderabad for a period of 117 months. The monthly rental worked out to be ₹4.14 crore.
Other companies have also been leasing large office spaces in India. Earlier this year, British multinational universal bank Barclays Bank Plc had picked up a sea-view front office space spread over two floors in a commercial tower in Mumbai’s plush Worli locality through a long-term lease totalling over 10 years.
In 2022, Morgan Stanley had leased two floors spread across 86,000 sq ft in a commercial tower in Worli for 10 years at a rent of ₹325 per sq ft per month.
The office leasing market in India has been growing steadily. According to a report by JLL, office leasing touched 33.5 million sq ft in the first half of the year, up by 29% from the same period last year.
About Goldman Sachs
Goldman Sachs is a leading global investment banking, securities, and investment management firm that provides a wide range of financial services to corporations, financial institutions, governments, and individuals.
About K Raheja Pvt Ltd
K Raheja Pvt Ltd is a leading real estate developer in India that has developed several commercial and residential projects across the country.
Frequently Asked Questions
How much office space has Goldman Sachs leased in Mumbai?
Goldman Sachs has leased over 73,000 sq ft of office space in K Raheja's Acentia project in Worli, Mumbai.
What is the monthly rent for the office space leased by Goldman Sachs?
The monthly rent for the office space leased by Goldman Sachs is ₹2.06 crore.
How long is the lease period for the office space leased by Goldman Sachs?
The lease period for the office space leased by Goldman Sachs is 10 years with an option to further increase by five plus five years.
What is the lock-in period for the office space leased by Goldman Sachs?
The lock-in period for the office space leased by Goldman Sachs is 48 months from the lease commencement date which is September 1, 2025.
Who is the developer of the Acentia project where Goldman Sachs has leased office space?
The Acentia project where Goldman Sachs has leased office space is developed by K Raheja Pvt Ltd.
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