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.
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