WeWork India Secures Major Lease in Powai for ₹1.38 Crore Per Month
WeWork India has secured a significant lease agreement for 1.26 lakh square feet of commercial space in Powai, highlighting its strategic expansion in Mumbai's real estate market.
Wework IndiaCommercial Real EstatePowaiLease AgreementMumbaiReal Estate MaharashtraDec 30, 2024
The deal, according to registration papers accessed by Propstack, entails a monthly rent of Rs 1.38 crore.
The leased property, situated in a building named Lightbridge in the Saki Vihar area, highlights WeWork's strategic expansion in Mumbai's commercial real estate market.
The transaction was officially registered on November 29, 2024.
According to the registration documents, a stamp duty of Rs 22 lakh and a registration fee of Rs 1,000 was 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 building, with a monthly rent rate of Rs 109 per square foot.
A security deposit of Rs 4.14 crore has also been paid.
The space has been rented out by Gamma Constructions Pvt Ltd.
and Shrishti Developers.
Gamma Constructions is a joint company of Dr Niranjan and Surendra Hiranandani.
Frequently Asked Questions
What is the size of the leased commercial space in Powai by WeWork India?
The leased commercial space in Powai by WeWork India is 1.26 lakh square feet.
What is the monthly rent for the leased property in Powai?
The monthly rent for the leased property in Powai is Rs 1.38 crore.
When does the lease agreement commence and conclude?
The lease agreement commences in August 2025 and concludes in August 2030.
What is the monthly rent rate per square foot for the leased property?
The monthly rent rate per square foot for the leased property is Rs 109.
Who are the landlords of the leased property in Powai?
The landlords of the leased property in Powai are Gamma Constructions Pvt Ltd. and Shrishti Developers.
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