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Tesla India takes on lease 8,200 sq ft commercial space in Delhi's Aerocity

Economic Times

Economic Times · 23h ago

Tesla India takes on lease 8,200 sq ft commercial space in Delhi's Aerocity

Tesla is expanding its presence in India by leasing 8,200 sq ft of commercial space in Delhi’s Aerocity for Rs 17.22 lakh per month, according to CRE Matrix. The lease is for nine years, with a 15% rent escalation every 36 months. This follows Tesla's setup in Gurugram, Haryana, where it leased a 33,000 sq ft space for a service center and sales outlet. These moves indicate Tesla's commitment to strengthening its foothold in the Indian market.

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WeWork India renews lease on 1.4 lakh sq ft space in Goregaon East, Mumbai

Money Control

Money Control · 1y ago

WeWork India renews lease on 1.4 lakh sq ft space in Goregaon East, Mumbai

WeWork India has renewed its lease on a 140,000 sq ft space from Nesco at its Goregaon East office complex for five years. The lease agreement, effective from August 1, includes a rent of INR 162 per sq ft per month, amounting to a total of INR 27 crore per year. The agreement also includes two escalations in 2025 and 2028. WeWork India, majority-owned by Embassy Group, operates independently from WeWork Inc and manages around 8 million sq ft of office spaces across multiple cities in India. Embassy Group plans to make WeWork India public in the next two years.

JP Morgan leases office in Mumbai’s BKC in Rs 1,000-cr rental deal

Economic Times

Economic Times · 1m ago

JP Morgan leases office in Mumbai’s BKC in Rs 1,000-cr rental deal

JP Morgan has pre-leased over 116,210 sq ft of office space for ten years in Sumitomo's commercial tower at Mumbai's Bandra-Kurla Complex (BKC). The lease, requiring a monthly rent of Rs 6.91 crore, is renewable for three additional five-year terms. Total rental is estimated over Rs 2,500 crore for 25 years. The space, located on the 11th and 12th floors, will likely serve as JP Morgan’s India headquarters.

Sumadhura Group gives on rent 5 lakh sq ft commercial spaces in Bengaluru, to earn Rs 50cr/yr

Economic Times

Economic Times · 1d ago

Sumadhura Group gives on rent 5 lakh sq ft commercial spaces in Bengaluru, to earn Rs 50cr/yr

Sumadhura Group has leased 5 lakh sq ft of commercial office and retail space in its flagship project, Sumadhura Capitol Towers, located in Whitefield, Bengaluru. This lease is projected to generate an annual rental income of Rs 50 crore for the company. Sumadhura Capitol Towers spans 8.67 acres and offers a total leasable area of 1.5 million sq ft. The strong demand for Grade A+ office spaces in Bengaluru is driven by multinational corporations establishing Global Capability Centers.

Blackrock leases 42,700 sq ft of office space in Mumbai's Worli for 5 years

Money Control

Money Control · 11m ago

Blackrock leases 42,700 sq ft of office space in Mumbai's Worli for 5 years

Fund manager Blackrock Services India Pvt Ltd has leased 42,700 sq ft of office space in Worli, Mumbai for a monthly rent of Rs 300 per sq ft. The 5-year lease will have a monthly rent of Rs 1.1 crore for the first eight months and Rs 1.28 crore for the next four months, with escalations in subsequent years. The office space is located on the 13th floor of the office tower Altimus. The lock-in period for the transaction is 36 months, and a security deposit of Rs 12.8 crore was paid.

WeWork India signs lease agreements for co-working centres in Bengaluru, Hyderabad

Economic Times

Economic Times · 1y ago

WeWork India signs lease agreements for co-working centres in Bengaluru, Hyderabad

WeWork India has leased 2.72 lakh sq ft of office space in Bengaluru and Hyderabad to open two new co-working centres with around 4,000 desks. The company is expanding in South India and has signed lease agreements for Manyata Redwood in Bengaluru and RMZ Spire in Hyderabad. WeWork India has grown its portfolio to over 6.5 million sq ft across 50 locations in various cities in India. The Indian business is not affected by the bankruptcy proceedings of WeWork Global.

'Will be unprofitable': Redditors on Tesla's Rs 35 lakh-per-month-showroom in Mumbai's BKC

Business Today

Business Today · 5m ago

'Will be unprofitable': Redditors on Tesla's Rs 35 lakh-per-month-showroom in Mumbai's BKC

Tesla plans to open a Mumbai showroom with a monthly lease of Rs 35 lakh, followed by another in Delhi's Aerocity. The company may import vehicles from its Berlin facility for the Indian market, aiming for a price under $25,000 to increase accessibility. Current US starting prices are approximately $35,000. Job openings in customer support, operations, and business support have been posted for Mumbai and Delhi on LinkedIn.

Elon Musk’s Tesla to set up first India showroom in Mumbai’s BKC

YourStory

YourStory · 5m ago

Elon Musk’s Tesla to set up first India showroom in Mumbai’s BKC

Tesla is set to open its first showroom in India, having leased a 4,000-sq ft space in Mumbai's Bandra Kurla Complex. The company, led by Elon Musk, will pay over Rs 35 lakh monthly rent, with annual increments. The showroom, near India's first Apple store, hints at future plans for local manufacturing. The lease, secured from Univco Properties, lasts five years with a significant security deposit, marking Tesla's entry into the Indian market.

HDFC Bank leases Navi Mumbai office space for 10 years, to pay ₹320 crore rent | Company Business News

Livemint

Livemint · 8m ago

HDFC Bank leases Navi Mumbai office space for 10 years, to pay ₹320 crore rent | Company Business News

HDFC Bank has leased a 400,000-square-foot office space at Mindspace Business Parks in Airoli West, Navi Mumbai for INR 320 crore. The bank has entered into two separate lease agreements for a total of 395,000 sq ft of office space, along with parking slots. The ten-year lease agreement includes a 15% rental escalation provision. This move is part of the bank's expansion plans for its back office operations and IT-enabled services. Navi Mumbai is an emerging micro-market for commercial real estate, attracting businesses due to its strategic location and connectivity.

Byju's vacates massive 4 lakh sq ft office space in Bengaluru amid ongoing financial challenges: Report

IndianStartupNews

IndianStartupNews · 1y ago

Byju's vacates massive 4 lakh sq ft office space in Bengaluru amid ongoing financial challenges: Report

Bangalore-based edtech firm Byju's has reportedly reduced its office space in an effort to cut costs amid ongoing financial challenges. The company has vacated a 400,000 sq ft property at Prestige Tech Park, with lease termination occurring earlier this year. Byju's has also received a legal notice for non-payment of rent for a 500,000 sq ft office space at Kalyani Tech Park. In addition to these moves, the company has also ceased operations at other office locations, signaling a strategic pullback from physical office space usage. Byju's parent company, Think and Learn, has received a commitment of $300m from investors amid financial troubles.

Air India leases seven floors of Gurugram building for annual rent of ₹24.05 crore

Livemint

Livemint · 1y ago

Air India leases seven floors of Gurugram building for annual rent of ₹24.05 crore

Air India has leased seven floors of office space in Gurugram for a period of five years. The lease agreement with Vatika One on One Pvt Ltd includes 1.80 lakh sq ft of office space, with a monthly rent of ₹1.89 crore. The leased property is located in Sector 16 of Gurugram and offers convenient connectivity to the airport. The deal also includes car parking spaces and a provision for a 15% rent increase after three years. Air India plans to expand its fleet and international operations in the coming months.

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