Advertisement
Tata Digital Pvt Ltd has leased approximately 59,000 sq. ft. of office space across three floors at One International Centre in Mumbai's Lower Parel business district. The five-year lease covers the 15th, 16th, and 17th floors, with a monthly rent of INR 1.05 crore plus INR 12.32 lakh in CAM charges, totalling about INR 1.18 crore monthly. The lease includes a 5% annual rent escalation and a rent-free period from February 1 to July 15, 2025. Tata Digital has paid INR 7.07 crore as security deposit and secured 49 car parking slots, with additional parking available at INR 10,000 per slot. This move reflects sustained demand for premium office spaces in Lower Parel, a preferred hub for corporate occupiers due to its strategic location, connectivity, and modern amenities.
The digital company of the Tata Group, Tata Digital Pvt Ltd, recently made a big move to increase its footprint in Mumbai by renting about 59,000 square feet of office space over three floors of One International Centre, which is situated in the busy Lower Parel business district. Advertisement
The lease agreement, spans five years and encompasses the entire 15th, 16th, and 17th floors of the building. Tata Digital will pay a monthly rental of INR 1.05 crore for this prime office space. Alongside this, the company will bear common area maintenance (CAM) charges amounting to INR 12.32 lakh monthly, bringing the total monthly outgo to approximately INR 1.18 crore.
A 5% annual escalation in rent has been agreed upon, reflecting the competitive nature of Mumbai's commercial real estate market, where demand for premium office spaces remains robust. In addition, the agreement provides for a rent-free period extending from February 1 to July 15, 2025, offering Tata Digital valuable cost relief during the initial months of occupancy.
The company has deposited a security sum of INR 7.07 crore as part of the leasing arrangement. Moreover, the lease includes 49 dedicated car parking slots, which are highly coveted in the congested Mumbai commercial areas. Additional parking can be availed at a monthly rate of INR 10,000 per slot, ensuring flexibility to accommodate future growth in employee or client visits.
This leasing move comes at a time when Mumbai's office space market, especially in regions like Lower Parel, continues to experience strong leasing activity. Lower Parel is favoured by many national and multinational companies due to its strategic location, excellent connectivity, and modern infrastructure.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
