Recently, Google India and Google Cloud India renewed their office space lease. These properties are in Bandra Kurla Complex and spread in 1.99 acres. They are a part of First international Financial Center (FIFC), BKC.
Google India renewed its office space lease for an overall chargeable area of 1.10 lakh sq ft (10,310 sq ft) in two floors.
According to a leading property news portal, the rent agreement values at Rs. 320 per month. The lease agreement includes a monthly rental of Rs. 3.55 crore. The said values are in reference from the Inspector General of Registration (IGR).
Also Read: Smartworks, Google leases Office Space in Gurugram
Additionally, Google paid a security deposit of Rs. 9.64 Crore. The renewal of lease incurred a stamp duty of Rs. 1.87 Crore and a registration fee of Rs. 30,000.
Google Cloud India has renewed it office space lease for 38,678 sq ft. Its lease agreement values rent of Rs.1.24 Crore per month.
The rent per square feet is Rs. 320 per month according to the agreement. Going forward, the company also paid a security deposit of Rs. 3.13 Crore. The lease agreement includes a stamp duty of Rs. 66.92 lakh and a registration charge of Rs. 30,000.
Also Read: Mumbai Real Estate: Triplex Apartment in BKC sold for Rs. 99 Crore
Both these renewals were registered in the month of February for next five years till June 2025. Both the agreement focus on escalating 15% rent after 36 months.
Property Registration in Mumbai Cross 9,000 mark in first 27 Days of January
Mumbai real estate keeps its growth momentum going in the New Year 2025. According to the data of IGR (Inspector General of Registration), Maharashtra Government, the city crossed the property registration mark of 9,200.
The majority of registrations are from the residential vertical and are likely to cross 10,000-mark by the end of January 2025.
By far, Maharashtra Government yielded a revenue of Rs. 740 Crore from 9,212 property registrations. It is in the form of stamp duty and registration fees collected from real estate transactions. The said amount is collectable latest till 10 am on 27th January 2025.
