Commercial Property on Lease Archives

December 2, 2025December 2, 2025

WeWork Leases 1.76 Lakh Sq Ft at Skyview 20 in Hyderabad, Sub-Leases Entire Space to JP Morgan

In one of Hyderabad’s biggest office deals this year, WeWork India has leased 1,75,953 sq ft at Skyview 20 in Hitech City, Madhapur. The space was immediately sub-leased to JP Morgan Services India Pvt Ltd, as confirmed by documents accessed by CRE Matrix.

The master lease between Mahanga Commercial Properties and WeWork, and the sub-lease between WeWork and JP Morgan, were both registered in November 2025. The back-to-back execution highlights the rapid uptake of premium offices in Hyderabad’s technology corridor.

WeWork has taken the space on a 60-month lease with a starting monthly rent of ₹1.72 crore. The security deposit is ₹10.34 crore. The area covers two floors—501 and 601 and includes 176 parking slots. The handover was done on 1 July 2025, followed by a four-month fit-out and rent-free period. With rent fixed at ₹98 per sq ft, the deal signals WeWork’s strong push into the Hyderabad market. It also reflects the city’s rapidly growing demand for flexible workspaces.

On 13 November 2025, WeWork sub-leased the entire area to JP Morgan at a significantly higher monthly rent of ₹4.38 crore. The agreement comes with a security deposit of ₹25.97 crore. JP Morgan will occupy the same floors, fitted with 1,501 desks as part of a managed office solution. The sub-lease runs for 60 months with a 24-month lock-in and a 5 percent annual rent escalation. Fit-out charges were set at ₹3,540 per sq ft, and the handover was done on 15 November 2025.

The sharp rent spread from ₹98 per sq ft in WeWork’s lease to ₹249 per sq ft in JP Morgan’s sub-lease shows the premium commanded by fully built, high-quality managed offices. It also highlights how global firms are increasingly opting for ready-to-move, service-backed workspaces over traditional bare-shell leases.

Skyview 20, located along Hitech City Main Road, remains one of Hyderabad’s most sought-after Grade-A office destinations. Its strong connectivity, modern infrastructure, and proximity to major IT hubs continue to draw multinational banks, tech companies, and enterprise occupiers. Additionally, the WeWork–JP Morgan deal further elevates its position as a top-tier commercial asset in the city.

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!

November 26, 2025November 26, 2025

Dream11’s Parent Company Secures 1.70 Lakh Sq Ft Office Lease in Worli for ₹334 Crore

Dream 11 parent leases office space in Worli

Sporta Technologies Private Limited, the parent company of India’s leading fantasy gaming platform Dream11, has finalized a major commercial real estate deal in Mumbai’s Worli. The company has leased approximately 1.70 lakh sq ft of office space for over ₹334 crore, according to property registration documents accessed by CRE Matrix.

The leased premises are located in Ascent Worli, a premium commercial development by K Raheja Pvt Ltd. The deal spans multiple office units across the 4th, 6th, 7th, and 8th floors of the building, offering the company a large and contiguous workspace in one of Mumbai’s most sought-after business corridors. Along with the office area, the lease also includes 135 car parking spaces, highlighting the scale and premium nature of the transaction.

The documents show that the lease has been signed for a period of five years, with a lock-in commitment of 36 months. The transaction was registered on November 17, 2025, with the company paying more than ₹94 lakh in stamp duty and ₹1,000 as registration fees. Additionally, a security deposit of over ₹30 crore has been furnished as part of the agreement.

Sporta Technologies will receive possession of the premises for fit-out work on August 4, 2025. The fit-out period extends for nearly six months, after which the lease will commence in February 2026. The starting monthly rent for the first year is ₹5.07 crore, and the agreement includes an annual escalation of 4.75%. Accordingly, the monthly rent will increase to over ₹5.31 crore in the second year, ₹5.57 crore in the third year, ₹5.83 crore in the fourth year, and ₹6.11 crore in the fifth year.

Recent Transactions

Mumbai’s office market continues to see strong traction, with multiple high-value leases and expansions across key business districts. Premium Grade-A spaces, strategic locations, and long-term commitments are driving the momentum in the city’s commercial real estate landscape.

In a transaction earlier this year, 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.

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!

November 22, 2025November 22, 2025

Scootsy, Swiggy’s Logistics Arm, Secures ₹20 Lakh/Month Warehousing Space in Bhiwandi

Swiggy’s logistics subsidiary, Scootsy Logistics Pvt Ltd, has expanded its warehousing footprint in the Mumbai Metropolitan Region by leasing a total of 1.21 lakh sq ft of space in Bhiwandi. The company will pay a combined monthly rent of ₹19.98 lakh for these facilities, according to registration documents accessed by CRE Matrix.

All the spaces are located within Global Logistic Park, a major warehousing hub known for its connectivity and Grade-A infrastructure. The four agreements were registered on October 31, 2025. The rentals commenced on September 1, 2025, with each lease running for a tenure of two years.

The largest of the four leases involves 69,687.5 sq ft taken from Qureshi Massrunisa for a monthly rent of ₹12.1 lakh. This block, comprising units 7, 10, 11, 12, 13, and 14 on the ground floor, is subject to a security deposit of ₹24.2 lakh. Scootsy is paying ₹17.36 per sq ft per month. In another agreement, the company leased 32,387.5 sq ft from Malunge Shivaji Vishnu. This has a monthly rent of ₹4.87 lakh and a security deposit of ₹9.74 lakh. This space includes units 8A, 8B, 8K, 9A, 9B, and 9K on the ground floor. For this, Scootsy will pay ₹15.04 per sq ft per month.

Scootsy also signed a third lease for 7,000 sq ft with Chougle Fya Anjum at a monthly rent of ₹1.15 lakh. It also includes a security deposit of ₹2.31 lakh. This area covers units 9H, 7E, and 11H, where the company is paying ₹16.53 per sq ft per month. The fourth agreement is for 12,300 sq ft taken from Patil Balaram Vitthal at a monthly rent of ₹1.85 lakh. The security deposit is ₹3.70 lakh. This deal includes units 9D and 10C, also located on the ground floor. The rent stands at ₹15.04 per sq ft per month.

All four transactions have a handover date of September 1, 2025. However, Scootsy will receive a 30-day rent-free or fit-out period from that date. The lease structure includes a 12-month lock-in period, after which rentals will escalate by 5 percent. The deal structure reflects a planned distribution and logistics strategy designed to strengthen Swiggy’s backend infrastructure across the Mumbai region.

This warehousing expansion aligns with Swiggy’s broader investment plans for its logistics operations. In February 2025, the company announced a ₹1,000 crore investment into Scootsy Logistics through a subscription to a rights issue. As Swiggy continues to scale its express and same-day delivery network, expanding warehousing capacity in high-demand zones like Bhiwandi is a critical component of its long-term growth strategy.

Recent Transactions

Bhiwandi is seeing steady leasing activity. Major occupiers are expanding their footprint in the region. The latest deal comes from Swiggy’s Scootsy. Additionally, the company has taken multiple warehouses on lease. This strengthens Bhiwandi’s position as a key logistics hub near Mumbai.

In a recent transaction, DHL Supply Chain India Pvt Ltd leased 4.17 lakh sq ft of warehouse space in Bhiwandi. In another transaction, Zomato Hyperpure secured over 5.5 lakh sq ft in the same location.

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!

November 7, 2025November 7, 2025

Zomato Hyperpure Expands Supply Chain with 5.5 Lakh Sq Ft Lease in Bhiwandi

Zomato Hyperpure, the business-to-business division of Eternal Ltd (formerly Zomato Ltd), has made a significant move to scale its supply chain infrastructure by leasing over 5.5 lakh sq ft of warehousing space in Bhiwandi near Mumbai. According to data from CRE Matrix, the company has paid a security deposit of ₹8.57 crore and stamp duty of ₹26.98 lakh for the lease registration.

The facility, located at Hiranandani Industrial Park, Mauje Pogaon, spans 553,249 sq ft and has been taken on a five-year lease with a 48-month lock-in period. The agreement starts with a monthly rent of ₹1.71 crore and includes a 150-day rent-free period to facilitate fit-out work and operational setup before rent payments commence in full.

This marks Hyperpure’s second major warehousing lease in Bhiwandi within two months. In September, the company took up another 250,000 sq ft facility in the same region. The consistent expansion reflects Zomato’s commitment to building a robust, tech-enabled logistics network to support its fast-growing B2B food supply business.

Bhiwandi has long been a preferred warehousing and logistics hub in the Mumbai Metropolitan Region (MMR). Its connectivity to Mumbai, Thane, and Navi Mumbai, and its proximity to the Mumbai–Nashik Highway and Jawaharlal Nehru Port (JNPT) make it ideal for large-scale occupiers such as e-commerce, retail, and food service companies.

It should be noted that large, structured leases like this underline sustained demand for Grade A warehousing in India. The country’s warehousing sector continues to see robust traction driven by rising consumption, e-commerce growth, and supply-chain consolidation.

As companies prioritize efficiency and scalability, the trend is shifting towards long-term leases in modern, tech-integrated industrial parks. Zomato Hyperpure’s latest move is a clear example of this transformation, where logistics infrastructure becomes a strategic growth enabler, not just a backend function.

With demand from sectors such as manufacturing, retail, and food services continuing to rise, industry watchers expect this momentum to sustain well into the next few years.

Recent Transactions

Mumbai’s warehousing market continues to attract major occupiers, with several large-scale lease deals recently signed across key logistics hubs like Bhiwandi and Panvel. Strong connectivity, rising consumption, and Grade A infrastructure are driving sustained demand from e-commerce, retail, and manufacturing players.

In a recent transaction, FM India Supply Chain Private Limited leased 1.31 lakh sq ft of industrial space at Lodha Industrial Park, located in Palava City, Thane district, near Mumbai.

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!

September 16, 2025

IKEA Signs 9-Year Lease for Retail Space in Pacific Mall, Delhi

Global home furnishing giant IKEA has signed a nine-year lease agreement with Pacific Development Corporation for a prominent retail space in Pacific Mall, Najafgarh Road, West Delhi. The deal was registered on April 9, 2025, and covers a 14,471 sq. ft. area. It comes with a substantial security deposit of ₹4.25 crore, as per data shared by CRE Matrix.

The lease structure starts with a monthly rent of ₹30 lakh in the first year, with gradual escalations over the lease tenure. In the second year, the rent rises by 3.75% to ₹31.12 lakh. There will be a 2.41% hike in the third year, amounting to ₹31.87 lakh. A significant increase occurs in the fourth year, with the monthly rent jumping by over 20% to ₹38.49 lakh. This remains stable for the fifth and sixth years. In the seventh year, another sharp escalation of 18% pushes the rent to ₹45.42 lakh per month. However, this remains fixed through the eighth and ninth years. The agreement includes an 8-month lock-in period for the licensee.

This strategic expansion reflects IKEA’s increasing focus on penetrating high-footfall urban retail hubs. By securing a flagship global brand as a tenant, Pacific Mall strengthens its market positioning and is expected to see a further boost in customer traffic and overall brand mix.

The new store in West Delhi aligns with IKEA’s innovative ‘One Click, 30 Minutes Away’ model. Unlike large-format IKEA stores in Bengaluru, Hyderabad, and Navi Mumbai that offer the complete IKEA experience, the city store model caters to urban customers seeking curated solutions. The 15,000 sq. ft. store at Pacific Mall will stock around 800 smaller ‘cash-and-carry’ products available for immediate purchase. Altogether, there will be a display of a total of 2,000 items. Customers will also have the option to order products from IKEA’s full range, including kitchen solutions. The Customer Distribution Centre in Farrukhnagar will deliver them.

This move highlights IKEA’s continued strategy to expand its footprint in India. It reflects IKEA’s focus on blending physical and digital experiences for modern urban shoppers.

Recent Transactions

Delhi’s commercial real estate market remains active, witnessing several high-value lease transactions recently, driven by strong demand from global brands and retailers seeking prime urban retail and office spaces.

Reflecting this trend, in August 2025, Tesla India Motors and Energy Pvt Ltd recently entered into a nine-year lease agreement for an 8,200 sq ft showroom space located in Delhi’s Aerocity.

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!

August 12, 2025August 12, 2025

Eaton Technologies Leases 1.5 Lakh Sq Ft Office Space in Pune’s Baner from K Raheja Corp Subsidiary

Eaton Technologies India has made a significant office space commitment in Pune, leasing 150,000 sq ft at Aditya Shagun Infinity IT Park in Baner for a 10-year term. According to property registration documents accessed by CRE Matrix, the deal carries a potential rental outflow exceeding ₹250 crore over the lease period.

The leased space, spread across three floors, has been taken from Asterope Properties Pvt Ltd—part of K Raheja Corp—at a starting monthly rent of ₹1.65 crore (₹110 per sq ft) with an annual escalation of 4.5%. The agreement includes a five-year lock-in period, a security deposit of ₹9.9 crore, and parking for 150 four-wheelers and 150 two-wheelers. Eaton also holds the option to lease an additional 47,000 sq ft within the same complex.

The lease commences on July 15, 2025, with occupancy phased across three timelines—July 15, December 1, and January 15, 2026. Fit-out rent is set at ₹2,400 per sq ft per month, while common area maintenance (CAM) charges are fixed at ₹14.75 per sq ft per month.

Eaton Technologies, the Indian arm of the US-based intelligent power management company Eaton Corporation, plans to establish its Global Capability Center (GCC) at this location. This move underscores India’s growing role as a GCC hub, driven by strong talent availability, competitive operating costs, and modern infrastructure.

The deal is part of a rising trend of large, pre-committed office leases in Pune, especially in the western corridor covering Baner, Balewadi, and Hinjewadi. Over the past 18 months, this region has attracted major commitments from multinational corporations across technology, engineering, and financial services sectors.

With its strategic location and high-grade infrastructure, Baner continues to position itself as a preferred destination for companies looking to set up large-scale operations in India.

Recent Transactions

Pune’s commercial real estate market has seen a surge in activity recently, with major corporates securing premium office spaces across key business districts. This reflects strong demand driven by IT, engineering, and global capability centres expanding operations in the city.

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!

August 9, 2025September 9, 2025

Tesla Leases 8,200 Sq Ft Showroom in Delhi’s Aerocity at ₹17.22 Lakh Per Month

Elon Musk’s Tesla India Motors and Energy Pvt Ltd is accelerating its India expansion with a premium lease deal in the capital. According to property documents accessed by CRE Matrix, the electric vehicle maker has signed a nine-year agreement for an 8,200 sq ft showroom space in Delhi’s Aerocity, a high-profile hospitality and commercial hub located near Indira Gandhi International Airport.

The lease, registered on July 30 with Oak Infrastructure Pvt Ltd, is valued at ₹210 per sq ft per month, amounting to ₹17.22 lakh in monthly rent. Tesla has also taken 10 parking slots at ₹6,000 per month each, alongside a security deposit of ₹1.03 crore.

The sublease begins on March 15, 2025, with a 120-day fit-out period before the commencement of rent payments on July 13, 2025. The agreement includes a three-year lock-in period, a 15% rent escalation every three years, and common area charges of ₹33.5 per sq ft per month, backed by a refundable CAM deposit of ₹16.48 lakh.

This Aerocity lease marks Tesla’s second major retail space in India following its high-profile entry into the market last month. On June 15, the company leased its first showroom at Maker Maxity Mall in Mumbai’s Bandra Kurla Complex, taking 4,000 sq ft in one of the country’s most expensive commercial districts for ₹23.38 crore over five years, and inaugurated it on July 15.

Tesla has not limited its expansion to retail spaces alone. Earlier, the company also secured nearly 51,000 sq ft of super built-up area at Orchid Business Park on Sohna Road, Gurugram, for a nine-year term at a starting monthly rent of ₹40.17 lakh. With prime locations now locked in across Mumbai, Gurugram, and Delhi, Tesla is positioning itself strategically in India’s most influential business hubs, setting the stage for an aggressive brand rollout in the world’s third-largest automobile market.

August 6, 2025August 6, 2025

Tesla Expands India Presence with 33,000 Sq Ft Lease in Gurugram for Service and Delivery Operations

Tesla Leases Space for Service center in Gurugram (2)

In a major step towards strengthening its operations in India, global electric vehicle (EV) giant Tesla has leased over 33,000 square feet at Orchid Business Park on Gurugram’s Sohna Road, according to documents accessed by real estate analytics platform CRE Matrix. This marks Tesla’s continued commitment to establishing a robust EV ecosystem in the country.

The lease agreement, signed on July 28 under the name Tesla India Motors and Energy Pvt. Ltd., is valid for nine years with a three-year lock-in period. The facility will serve as a multi-functional centre—housing a service centre, delivery hub, and retail outlet for Tesla’s growing customer base in the Delhi-NCR region.

As part of the deal, Tesla has taken over the entire ground floor of the Orchid Business Park, covering 33,475 sq ft. The monthly rent is set at Rs 40.17 lakh, calculated at Rs 120 per sq ft, with an annual escalation of 4.75%. The automaker has also paid a stamp duty of Rs 20.69 lakh and deposited Rs 2.41 crore as a security deposit. Additionally, Tesla has secured 51 dedicated car parking slots as part of the transaction.

This new Gurugram facility adds to Tesla’s rapidly growing footprint in India. The company is also set to unveil its second showroom in the country on August 11, located at Worldmark 3 in Aerocity, New Delhi, near the IGI Airport. This follows the successful launch of Tesla’s first Indian showroom—a 4,000 sq ft space at Maker Maxity Mall in Mumbai’s Bandra Kurla Complex (BKC).

Earlier in May 2025, Tesla leased over 24,000 sq ft of warehousing space from Lodha Logistics Park in Kurla (West), Mumbai, at a monthly rent starting from Rs 37.5 lakh. That move underlined Tesla’s focus on building a strong backend supply chain to support vehicle delivery and after-sales service in India.

With these strategic leases, Tesla appears to be laying the groundwork for a full-fledged India launch, potentially ahead of local production or larger import volumes. As the country ramps up infrastructure and incentives for EV adoption, Tesla’s moves indicate long-term confidence in the Indian market.

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!

May 6, 2025May 9, 2025

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

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.

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now.

September 30, 2023October 13, 2023

4 steps to follow to score a great commercial real estate deal

Investing in commercial real estate can prove to be more beneficial when compared to residential properties. Commercial property owners enjoy the extra cash flow, the valuable economies of scale, the comparatively open playing field, the abundant market for good, reasonably-priced property managers, and the chance for a possibly larger payoff from commercial real estate.

But how do you assess the best properties? And how do the great deals differ from the duds?

Understand What the Insiders Know

To be a participant in commercial real estate, learn to think like a professional. For instance, understand that commercial property is estimated differently when compared to residential property. Income generated on commercial real estate is directly linked to its usable square footage. That’s not the case when it comes to individual houses. When it comes to real estate investment, commercial properties offer a bigger cash flow. Moreover, commercial property leases are longer when compared to single-family residences. This generally paves the way for larger cash flow.

Learn to Detect a Good Deal

The leading real estate experts recognize a great deal when they see one. How do they do that? First, they come up with an exit strategy. The finest deals are the ones you know you can move away from. It helps to have the eye of the landowner – always be on the lookout for damage that needs repairs, understand how to evaluate risk and make sure you get the calculator out to guarantee that the property meets your financial objectives.

Chart a plan of Action

One of the primary parameters of real estate investment of commercial properties is to ask yourself how much can you afford to pay and then shop around for mortgages to get an idea of how much you will pay over the life of the mortgage. Using tools such as mortgage calculators can assist you in coming up with great estimates of the sum cost of your home.

Seek Motivated Sellers

Just like any business, customers are majorly responsible for the growth of real estate. Your job is to seek them, specifically those, who are ready and willing to sell below the market value. The fact is nothing happens until you get a deal, which is generally accompanied by a motivated seller. This is someone with a strong reason to sell below the market value. If your seller isn’t motivated enough, they won’t be ready to negotiate.

Use a Three-Pronged Method to Asses Properties

You need to be adaptable when looking for good deals for real estate investment. Scour on the internet, read the classified ads, and hire experts to seek the best properties. Agents can assist you in seeking lucrative real estate investment in exchange for a referral fee.In a nutshell, these are some of the steps to follow to score a great real estate investment. Head over to CRE Matrix to look for great deals in the commercial real estate sector in India.