Nielsen Media Leases 1.52 Lakh Sq Ft Office Space in Mumbai for ₹3.87 Crore
Nielsen Media and its subsidiary Whats On Media have leased a massive 1.52 lakh sq ft office space in Commerze III, a project by Oberoi Realty, in Mumbai for a starting monthly rent of ₹3.87 crore.
Nielsen MediaOberoi RealtyMumbaiOffice SpaceCommercial PropertiesReal Estate MumbaiJul 15, 2024
The office space is spread across two agreements. The first agreement is for an area of 39,852 sq ft located on the 35th floor in Commerz III, International Business Park, Oberoi Garden, Goregaon East, Mumbai. The starting monthly rent is more than ₹1 crore, with a security deposit of more than ₹8 crore. The rent works out to be ₹252 per sq ft.
The second agreement was signed between Oberoi Realty and Nielsen India Media Pvt Ltd for an area of 112404 sq ft. The office space is located on the 36, 37, and 38th floors in Commerz III, International Business Park, Oberoi Garden, Goregaon East, Mumbai. The starting monthly rent is ₹2.87 crore, with a security deposit of ₹22.9 crore. The monthly rent for the three floors is ₹255 per sq ft.
Both agreements come with a significant number of car parking spaces. The first agreement includes 46 car parkings, of which four will be payable at ₹5000 per car parking. The second agreement comes with 122 free car parks, and 11 car parks have been leased at a monthly rent of ₹5000 per car park.
Oberoi Realty is a well-known real estate developer in India, with a focus on developing residential and commercial properties. The company's International Business Park is a prime location for businesses, with three commercial buildings - Commerz 1, Commerz 2, and Commerz 3.
The leasing of office space by Nielsen Media and its subsidiary Whats On Media is a significant development in the Mumbai real estate market. Earlier, Unity Small Finance Bank had purchased commercial properties in two separate locations in Mumbai in deals valued at around ₹400 crore. Red Fox IT Infra LLP, a subsidiary of Redbrick Offices, a co-working space provider, has also purchased 22 office spaces spread over an area of 87,618 sq ft in Andheri area of Mumbai for ₹267 crore.
Information Nielsen Media is a leading global market research and analytics firm, providing insights and data to businesses across various industries. The company has a significant presence in India, with its subsidiary Whats On Media operating in Mumbai. Oberoi Realty is a Mumbai-based real estate developer, with a focus on developing residential and commercial properties.
Oberoi Realty is a Mumbai-based real estate developer, with a focus on developing residential and commercial properties. The company's International Business Park is a prime location for businesses, with three commercial buildings - Commerz 1, Commerz 2, and Commerz 3.
Frequently Asked Questions
What is the total area of the office space leased by Nielsen Media and its subsidiary?
1.52 lakh sq ft
What is the starting monthly rent of the office space leased by Nielsen Media and its subsidiary?
₹3.87 crore
What is the period of the lease agreement between Nielsen Media and Oberoi Realty?
10 years
How many car parking spaces are included in the first agreement?
46
What is the monthly rent per sq ft for the second agreement?
₹255
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