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Tata Digital Leases 58,688 Sq Ft Office Space in Lower Parel for ₹12 Crore Annual Rent

Tata Digital Leases Office

Tata Digital has taken a major step toward expanding its operational footprint by leasing 58,688 sq ft of premium office space at One International Centre in Lower Parel, Mumbai. The five-year lease deal, valued at over ₹12 crore annually, highlights the company’s confidence in the strategic advantages offered by this Central Mumbai business district.

According to property registration documents accessed by CRE Matrix, Tata Digital has leased five units across the 15th, 16th, and 17th floors of the commercial complex. The lease agreement, registered on March 17, 2025, comes with a security deposit exceeding ₹7 crore. The lease officially commences on February 1, 2025, with rent becoming chargeable from July 16, 2025.

The monthly rental for the space is pegged at ₹1.05 crore, with a 5% escalation clause applicable each year. Additionally, the agreement includes 49 parking slots, while provisions for extra parking are priced at ₹10,000 per month per slot.

One International Centre is among the most sought-after commercial properties in Mumbai, housing several multinational corporations and offering modern infrastructure, prime location benefits, and strong connectivity.

Tata Digital, the technology arm of the Tata Group, was established to develop and lead its digital consumer businesses. It holds majority stakes in BigBasket, 1mg, and other strategic platforms, driving the group’s digital vision across e-commerce, health tech, and consumer services.

This move by Tata Digital not only reflects its operational expansion but also reaffirms Lower Parel’s growing stature as a hub for tech-driven enterprises and corporate headquarters. The locality’s robust infrastructure, access to key transport corridors, and a growing ecosystem of modern commercial spaces continue to attract major occupiers.

Recent Transactions

The commercial real estate sector in Mumbai continues to witness high-value leasing activity, with prominent companies securing premium office spaces across major business hubs. These recent transactions reflect strong demand, strategic expansions, and a positive outlook for India’s office space market in 2025.

In a recent transaction, Eternal Ltd, formerly Zomato, signed a five-year lease for 84,157 sq. ft. of prime office space in Andheri, Mumbai. In another transaction, Amazon renewed its lease for over 94,000 sq ft of office space at Godrej Two in Vikhroli for a five-year term, with a monthly rent of ₹1.73 crore.

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Shikhar Dhawan Buys Ultra-Luxury Apartment in DLF’s The Dahlias, Gurugram for ₹69 Crore

Shikhar Dhawan Buys Apartment in the Dahlias (2)

Former Indian cricketer Shikhar Dhawan has purchased a luxury apartment in The Dahlias, a premium project by DLF in Gurugram’s Sector 54. The property was bought for ₹69 crore and is one of the most expensive real estate deals recently.

The property, part of DLF’s most exclusive residential enclave, The Dahlias, is one of the costliest real estate transactions in the country. According to documents accessed by CRE Matrix, the apartment spans an impressive 6,040 sq. ft. and comes with five dedicated parking slots. The registration took place in early February 2025, shortly after Dhawan announced his retirement from all forms of cricket in August 2024.

The base cost of the apartment stands at ₹65.61 crore, while the total transaction value, including a stamp duty of ₹3.28 crore, rounds off at ₹68.89 crore. The rate per square foot comes out to ₹1,14,068.61 on carpet area and ₹1,08,631 on the super area—placing it among the highest price-per-square-foot deals in India’s residential real estate market.

DLF’s The Dahlias is popular for its super-luxury offerings, world-class amenities, privacy, and exclusivity, attracting top-tier buyers, including industrialists, corporate honchos, and now, a cricketing icon.

This move not only underlines Dhawan’s transition into his post-cricket life but also reflects the continued demand for luxury real estate in Gurugram’s Golf Course Road micro-market.

As Dhawan turns the page on his illustrious cricketing career, he seems to be setting new benchmarks in luxury living, continuing to stay in the spotlight, albeit off the field.

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O3plus MD, Wife Buy Delhi Bungalow for Rs 72 Crore

o3plus md buys bungalow

Vineet Kapur, founder and managing director of the skincare brand O3plus, along with his wife Sonia Kapur, has purchased a premium bungalow in Delhi’s posh Vasant Vihar area for a whopping Rs 72 crore. The property, built on a 663 sq m plot, is one of the latest additions to the capital’s booming luxury real estate segment.

According to data accessed via CRE Matrix, the transaction was registered in the first week of April, with Kapur paying a stamp duty of Rs 1.8 crore.

This high-profile acquisition comes shortly after Eleannt Enterprises secured a 1,280-sq yd plot in the same neighbourhood for Rs 95 crore, highlighting Vasant Vihar’s continued appeal among HNIs and business leaders. CBRE acted as the exclusive advisor for Kapur’s deal.

South Delhi, particularly areas like Vasant Vihar, has emerged as a hotspot for luxury homebuyers. Industry estimates peg the real estate potential of this upscale region at an astounding Rs 5.65 lakh crore across 42 colonies regulated by the Municipal Corporation of Delhi (MCD). These colonies, largely classified under Categories A and B, are home to a significant number of high-value residential plots, both occupied and vacant.

As per recent data, there are about 18,446 plots available across these colonies, with plot sizes ranging from 125 sq yd to 1,750 sq yd. Prices currently range between Rs 6 lakh to Rs 15 lakh per sq yd, depending on location, connectivity, and property status.

Over the past couple of years, Delhi-NCR has witnessed a surge in luxury housing sales. This is driven by increasing affluence, generational wealth transfers, and a desire for bespoke, premium living environments. Experts anticipate sustained momentum in this segment as demand continues to rise across both established and emerging luxury micro-markets.

Recent Transactions 

Delhi’s upscale neighborhoods are witnessing a surge in high-value property transactions. From Vasant Vihar to other elite South Delhi colonies, luxury bungalows are being snapped up. This reflects strong demand from HNIs and business leaders seeking premium residences in the capital.

In a recent transaction, Delhi High Court senior advocate Arun Kathpalia purchased a 763 sq yard bungalow in Delhi’s posh Golf Links neighborhood for a whopping  Rs 69 crore. In another transaction, Sanjay Kukreja, a partner at ChrysCapital, purchased a 1,250-square-yard bungalow in the same neighborhood for Rs 155 crore. 

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Zomato (Now Eternal Ltd) Leases Office Space in Mumbai’s Andheri for ₹85 Crore

Zomato Leases Office Space in Andheri

In a major commercial leasing transaction, Eternal Ltd, formerly known as Zomato, has signed a five-year lease for 84,157 sq. ft. of prime office space in Andheri, Mumbai. The deal is valued at ₹85 crore, as per documents accessed by CRE Matrix.

The lease deal was registered on May 9, 2025, and the new workspace is located on the 7th floor of R Square, a commercial building owned by Histyle Retail Pvt Ltd (Runwal Realty). The leased premises include six units and 57 car parking spaces, offering a significant footprint in one of Mumbai’s busiest commercial hubs.

The lease agreement begins on May 1, 2025, and includes a 60-month lock-in period for the licensor and 36 months for the licensee. As per documents accessed by CRE Matrix, the monthly rent is set at ₹1.34 crore for the initial 36 months, after which it will increase to ₹1.54 crore for the remaining two years, reflecting a 15% escalation. The effective rent works out to approximately ₹160 per sq. ft.

This move aligns with Eternal’s evolving corporate vision. In February 2025, Zomato officially rebranded itself as Eternal Ltd. This was a shift in focus beyond its core food delivery business. Founder and CEO Deepinder Goyal shared that the rebranding reflects the company’s broader ambitions, particularly with the growing impact of Blinkit, Zomato’s quick-commerce arm.

Commenting on the strategic location, Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix and IndexTap.com, said that Andheri is emerging as a prominent office market due to factors such as increasing annual leasing activity, ongoing housing developments, enhanced metro, airport, and highway connectivity, as well as robust hospitality infrastructure. He added that these advantages are driving many established brands to set up their base in Andheri.

Recent Transactions

Mumbai’s commercial real estate market continues to witness robust activity, with several high-value office space transactions recently finalized. Growing demand from diverse industries and improving infrastructure are driving companies to secure prime locations across key business districts in the city.

In a significant recent transaction within R Square, the same building mentioned earlier, HDFC Bank secured a lease agreement valued at ₹1,020 crore for a sprawling 4.5 lakh sq ft of premium office space. In another transaction, Amazon renewed its lease for over 94,000 sq ft of office space at Godrej Two in Vikhroli for a five-year term, with a monthly rent of ₹1.73 crore.

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Amazon Renews ₹1.73 Crore Monthly Lease With Godrej Green Homes in Mumbai’s Vikhroli

Amazon Renews ₹1.73 Crore Monthly Lease

In a notable reaffirmation of Mumbai’s commercial real estate potential, Amazon has renewed its lease for over 94,000 sq ft of office space at Godrej Two in Vikhroli for a five-year term, with a monthly rent of ₹1.73 crore. Located along the Eastern Express Highway, this Grade-A office development continues to attract top-tier tenants, with Amazon maintaining a significant presence through four of its group companies.

According to documents sourced from CRE Matrix, the leased premises span the 7th floor of Godrej Two and cover over 58,000 sq ft of carpet area. The lease includes 60 parking spaces, 20 of which are paid at a monthly fee of ₹8,508 per space, and is secured with a 48-month lock-in period.

As per the property registration documents, the first lease transaction involved portions of units 701, 702, and 703, comprising over 42,000 sq ft of leasable area, which was taken up by Amazon Seller Services Pvt Ltd at a monthly rent of more than ₹78 lakh. The second transaction included parts of units 701, 702, 703, and 704, totaling approximately 19,926 sq ft, leased to Amazon Development Centre India Pvt Ltd for over ₹36 lakh per month.

In the third transaction, Amazon Data Services India Pvt Ltd leased portions of units 701 and 704, spanning 16,447 sq ft, at a monthly rent exceeding ₹30 lakh. The fourth lease, involving unit 703 and measuring 15,181 sq ft, was secured by Amazon Smart Commerce Solutions Pvt Ltd for a monthly rent of over ₹27 lakh.

Karan Bolaria, MD & CEO of Godrej Fund Management, commented, “Amazon has renewed its lease for office space on the 7th floor of Godrej Two, located along the Eastern Express Highway in Vikhroli, Mumbai. As one of the building’s original tenants, Amazon’s continued presence reaffirms the enduring appeal of Godrej Two as a premium commercial address.”

Launched in March 2021, Godrej Two is LEED Platinum certified and fully leased, reflecting the high demand for premium office spaces across sectors such as BFSI, IT, logistics, engineering, pharmaceuticals, and manufacturing. Amazon’s renewal further cements Vikhroli’s rising stature as a thriving business hub in the city.

Recent Transactions

Mumbai’s commercial real estate market continues to show resilience with major office space lease renewal transactions. Corporate giants are reinforcing their long-term presence in the city’s premium business hubs. This reflects strong demand for Grade-A office spaces, strategic locations, and top-tier infrastructure across key micro-markets like Vikhroli. 

In a recent transaction, HDFC Bank leased 4.5 Lakh sq ft of office space in Mumbai’s Andheri for ₹1,020 crore. 

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Princeton Digital Leases 1 Million Sq Ft at Airoli Knowledge Park near Mumbai for Flagship Data Centre Campus

Princeton Digital Leases 1 Million Sq Ft at Airoli Knowledge Park

In a major commercial deal, Princeton Digital Group (PDG) has signed a landmark lease agreement with Mindspace Business Parks REIT, acquiring 1 million sq ft of space at Airoli Knowledge Park. The transaction, registered on April 1, 2025, is valued at ₹10.42 crore in monthly rent and involves three buildings owned by Gigaplex Estate Pvt Ltd, a Mindspace REIT entity.

According to property registration documents accessed by CRE Matrix, the lease spans both 20-year and 40-year terms, with a 15-year lock-in. It also includes a rent escalation clause—4% annually for the first 15 years and 5% thereafter. Additionally, PDG has secured 81 car parking spaces as part of the agreement.

The leased space, totaling one million sq ft, is distributed across three separate agreements. Princeton Digital has leased 3.15 lakh sq ft at a monthly rent of ₹3.10 crore, 2.52 lakh sq ft for ₹2.48 crore per month, and 4.91 lakh sq ft at ₹4.83 crore per month.

This deal marks a pivotal step in PDG’s expansion in India. Mindspace REIT had earlier announced, on September 25, 2024, a strategic partnership with PDG to develop its flagship and largest data centre campus in the country at Mindspace Airoli West.

As per the agreement, Mindspace will construct three built-to-suit data centres for PDG, adding to the two already developed, which span 0.63 million sq ft. Once complete, the campus will include five buildings and a total footprint of 1.65 million sq ft, making it one of the largest data centre developments in India. The facilities will form part of a 15-acre development within Mindspace Airoli West’s expansive 50-acre business ecosystem.

This agreement highlights the increasing significance in the digital infrastructure landscape in addition to the growing need for hyperscale data centers in India.

Recent Transactions

Commercial transactions for setting up data centers are rapidly increasing in India, especially near Mumbai. The region’s strategic connectivity and robust infrastructure make it a preferred destination for hyperscale and colocation data center investments.

In a recent transaction, Equinix India Pvt Ltd, a US-based data center company, paid ₹155 crore for 5,597 sq m of land in the Chandivali neighborhood of Mumbai. The company intends to establish a new data centre, marking its third such facility in Mumbai. 

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