Tata Digital Secures Major 58,668 Sq. Ft. Lease at One International Centre in Mumbai
Tata Digital has signed a significant lease for 58,668 sq. ft. of office space at One International Centre in Lower Parel, Mumbai, marking a major milestone in the city's real estate market.
Tata DigitalOne International CentreMumbai Real EstateCommercial LeaseGradea PropertyReal Estate MumbaiMay 30, 2025
The leased premises encompass units 1501-02, 1601-03, and 1702-03 across the 15th, 16th, and 17th floors. The monthly rent is set at ₹1,05,60,235, which equates to ₹180 per sq. ft. Additionally, a substantial security deposit of ₹7,07,53,572 has been agreed upon.
The license agreement is for a tenure of 60 months, commencing on February 1, 2025. Tata Digital will benefit from a rent-free period from the start date until July 15, 2025. The rent will become payable from July 16, 2025, and an annual escalation clause will increase the rent by 5% each year during the lease term.
In addition to the rent, Tata Digital will be responsible for monthly common area maintenance (CAM) charges of ₹21 per sq. ft., amounting to approximately ₹12.3 lakh per month. The agreement also includes 49 dedicated car parking slots, for which an additional ₹4.9 lakh per month will be charged at ₹10,000 per parking space.
One International Centre, located in Lower Parel, is a prestigious Grade-A commercial property that offers state-of-the-art facilities and a prime location in Mumbai’s central business district. This strategic move by Tata Digital underscores the company's commitment to expanding its operations and maintaining a strong presence in the heart of Mumbai's business landscape.
The lease agreement not only highlights the robust real estate market in Mumbai but also reflects the growing demand for high-quality office spaces in the city. As one of the leading technology companies in India, Tata Digital’s decision to lease such a significant space at One International Centre is a clear indication of its long-term growth strategy and its confidence in the Mumbai market.
In conclusion, this major lease deal by Tata Digital at One International Centre in Lower Parel is a significant development in the Mumbai real estate sector, setting a benchmark for future commercial property transactions in the area.
Frequently Asked Questions
What is the size of the leased space by Tata Digital?
Tata Digital has leased 58,668 sq. ft. of office space at One International Centre in Lower Parel, Mumbai.
What is the monthly rent for the leased space?
The monthly rent for the leased space is ₹1,05,60,235, which translates to ₹180 per sq. ft.
When does the lease agreement commence?
The lease agreement commences on February 1, 2025, with a rent-free period until July 15, 2025.
What are the additional charges included in the lease agreement?
In addition to the rent, Tata Digital will bear monthly common area maintenance (CAM) charges of ₹21 per sq. ft. and an additional ₹4.9 lakh per month for 49 dedicated car parking slots.
What is the significance of this lease deal for the Mumbai real estate market?
This lease deal is significant as it marks one of the largest Grade-A commercial leases in Mumbai’s central business district this year, reflecting the robust real estate market and the growing demand for high-quality office spaces.
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