WeWork India Secures Major ₹1.38 Crore Monthly Lease in Powai
WeWork India has secured a significant lease agreement for 1.26 lakh square feet of commercial space at Powai, highlighting its strategic expansion in Mumbai's real estate market.
Wework IndiaPowaiCommercial Real EstateLease AgreementMumbaiReal Estate NewsDec 30, 2024
The deal, as per registration papers accessed by Propstack, entails a monthly rent of ₹1.38 crore.
The leased property, situated in the Lightbridge building in the Saki Vihar area, underscores WeWork's strategic expansion in Mumbai's commercial real estate market.
The lease agreement was officially registered on November 29, 2024.
According to the registration documents, a stamp duty of ₹22 lakh and a registration fee of ₹1,000 were paid.
The lease tenure is set to commence in August 2025 and will span five years, concluding in August 2030.
The commercial space encompasses the 6th, 7th, and 8th floors of the Lightbridge building, with a monthly rent rate of ₹109 per square foot.
Additionally, a security deposit of ₹4.14 crore has been paid.
The space has been rented out by Gamma Constructions Pvt Ltd.
and Shrishti Developers, a joint company of Dr.
Niranjan and Surendra Hiranandani.
Commenting on the development, Dr.
Niranjan Hiranandani, Chairman of Hiranandani Group, said, \
Frequently Asked Questions
What is the monthly rent for the leased space in Powai by WeWork India?
The monthly rent for the leased space in Powai by WeWork India is ₹1.38 crore.
Where is the leased property located?
The leased property is located in the Lightbridge building in the Saki Vihar area of Powai, Mumbai.
Who are the owners of the leased property?
The leased property is owned by Gamma Constructions Pvt Ltd. and Shrishti Developers, a joint company of Dr. Niranjan and Surendra Hiranandani.
When will the lease tenure commence and conclude?
The lease tenure will commence in August 2025 and conclude in August 2030.
What is the monthly rent rate per square foot for the leased space?
The monthly rent rate for the leased space is ₹109 per square foot.
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