A digital services firm has leased nearly 59,000 sq ft of office space across three floors of a commercial tower in Mumbai’s Lower Parel for a five-year term. The tenant will pay monthly rentals of around Rs 1.05 crore along with common area maintenance charges of Rs 12.32 lakh, bringing the total monthly outgo to approximately Rs 1.18 crore. The agreement also includes a 5% annual escalation in rent.

The firm will receive a rent-free period from February 1 to July 15, 2025, with license fees becoming payable from July 16, according to documents accessed through a real estate data platform.

The tenant has paid a security deposit of Rs 7.07 crore for the transaction. The deal includes 49 parking spaces, with additional slots available at Rs 10,000 per month each. Queries sent to both the tenant and property owner remained unanswered at the time of reporting.

Office leasing activity in India has shown resilience in 2025, supported by strong demand from global operations centers, resulting in sustained interest in major business districts across the country.

https://www.livehomes.in/news_letter