TDPL i.e. Tata Digital Private Limited, a sister company of Tata Sons Private Limited, renewed the lease of its South Mumbai-based headquarters. The company will pay a rental value of Rs. 2.98 crore per month as a renewed amount. These details are in the documents available on FloorTap.com. It is a commercial real estate data analytic firm.
The documents further show that the total leasable area in the agreement is 1.02 lakh sq. ft. For which, Tata Digital deposited a security amount of Rs. 15.2 crore as per the document.
This commercial real estate deal was registered on May 16th, 2024, and the subsidiary arm of Tata group paid a stamp duty of Rs. 29 lakh for the same. Furthermore, the documents show the lease of Tata Digital’s headquarters is renewed for next three years.
01st April 24’ is the commencement date for the lock-in period of one year lease. With the renewal of the three-year lease, the headquarters of Tata Digital will be at Fort House, in South Mumbai. The company based in the posh locale of India’s financial capital functions Tata Neu Super app.
The documents on FloorTap.com show per square foot monthly rental stand at Rs. 292.
Dawat-E-Hadiyah a charitable trust of Dawoodi Bohra community owns Fort House, a heritage property. In 2017, Dawat-E-Hadiyah bought the property from the Videocon group which was the original owner of this asset.
In the earlier times, the Videocon group was headquartered in Fort House. Well-positioned in South Mumbai, the property is one of Mumbai’s oldest central business districts. The building is from the British Era, with landmark office addresses. Like Mumbai Port Trust, Maharashtra Maritime Board, Prince of Wales Seamen’s Club, and BMC headquarters to name a few.
