Deloitte leases 80,000 sq ft space in the Oberoi Commerz skyscraper in Mumbai for 2.09 crore per month

By Bricksnwall | 2024-09-07

Deloitte released Services India LLP has leased the commercial space for five years, according to a leave and licence agreement released by Propstack. 

Deloitte Shared Services India LLP rented 80,849 sq ft of office space in the Oberoi Commerz III building in Mumbai for 2.09 crore a month, according to a leave and licence agreement shared by Propstack.

The area on two floors has been leased for five years. The arrangement includes a 15% increase in rent after 36 months. The beginning rent is ₹258 per square foot per month, according to the paperwork.

According to the documents, the corporation paid a ₹18.8 crore security deposit over a nine month period.

The lease begins November 1, 2024.

Emails have been addressed to both Deloitte India and Oberoi Realty. The story will be updated as soon as a response is received.

Deloitte Consulting India also leased around 1.56 lakh square feet of office space for ten years in the International Tech Park in Pune's Kharadi neighbourhood earlier this year.

IDFC First Bank previously leased four floors totalling 1.64 lakh square feet at Oberoi Garden City in Mumbai's Goregaon East area, according to property registration data obtained through real estate portal FloorTap.com.

The deal includes parking for 165 automobiles in Commerze III of the commercial district, with a beginning monthly price of ₹3.85 crore or ₹233 per square feet, according to the paperwork. The arrangement includes a 15% rent increase after 36 months of the license's commencement date. The five-year lease period begins on January 15, 2025.

at July, Nielsen Media and its subsidiary Whats On India Media Pvt Ltd leased a 1.52 sq ft commercial space at Commerze III, International Business Park, Oberoi Gardens, a project by Oberoi Realty, in Mumbai for a beginning monthly fee of ₹3.87 crore for ten years.

The initial deal occupied 39,852 square feet on the 35th floor of Commerz III, International Business Park, Oberoi Garden, Goregaon East, Mumbai. The agreement was struck by Oberoi Realty and Whats On Media Pvt Ltd. The beginning monthly rent is over ₹1 crore. The rent amounted to ₹252 per square foot. The security deposit for the Leave and License agreement exceeded 8 crore.

Oberoi Realty's international Business Park has three commercial buildings: Commerz 1, a hotel development with 17 stories of offices, and Commerz 2, which has 30 floors. These buildings have been leased out.

Commerze III is a 51-story commercial tower located in Oberoi Garden City's International Business Park. Morgan Stanley, a multinational investment bank, has leased 1.6 million square feet of space on the building's lower levels.

WeWork India had already renewed its lease for 1.4 lakh square feet of office space in nearby Nesco IT Park for a monthly leasing cost of ₹2.25 crore. The transaction involved a stamp duty of ₹37.93 lakh.

Source: Hindustan Times