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.
Related News Articles
Tata Curvv to Challenge Creta Dominance with CNG Variant Launch
Tata Motors hints at launching a CNG variant of the Tata Curvv, set to rival the Hyundai Creta in the mid-size SUV segment.
Avadhoot Gupte Secures Luxurious Apartment in Bandra for Rs 7.7 Crore
The property is located in the upscale neighborhood of Bandra (Khar West), Mumbai, highlighting the area's growing appeal as a premier destination for high-end real estate.
Mumbai: Prominent Pharma Tycoon Acquires Prime Sea-View Apartment in Lodha Sea Life
The recent acquisition of a high-end sea-view apartment by the promoter of Alkem Laboratories, Cyriac George Singh, has stirred the Mumbai real estate market. Singh's purchase, along with other significant transactions, highlights a growing trend of luxur
Nifty on Track for a Phenomenal 2025? 20-25% Returns Possible, Says Sharad Avasthi
The Indian stock market, bolstered by solid economic growth and transformative trends, is set to deliver impressive returns in 2025. Sharad Avasthi, a market expert, predicts a strong performance driven by robust government spending and sectoral growth.
TN CM Advocates Innovative Urban Plans for Sustainable Housing
The Chief Minister of Tamil Nadu has called for the development of innovative urban plans to address the growing demand for sustainable housing. He highlighted ongoing efforts to create comprehensive master plans that balance urbanization with environment
Bracing for the Economic Storm: Kiyosaki’s 2025 Financial Crisis Prediction
In an era of market volatility and economic uncertainty, financial guru Robert Kiyosaki is sounding the alarm bells with his bold 2025 economic forecast. He recommends strategic investments in gold, silver, Bitcoin, and real estate to safeguard against po