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Hartford Global Services commits to 1.6 lakh sq ft office lease in Hyderabad’s Gachibowli

Hartford Global Services commits to 1.6 lakh sq ft office lease in Hyderabad’s Gachibowli

Hartford Global Services has expanded its India operations with a large office lease in Hyderabad. The US-based insurer’s India arm has taken 1.59 lakh sq ft of office space in Gachibowli, one of the city’s key IT corridors. The deal comes with a monthly rent of ₹92.28 lakh, according to lease documents accessed by CRE Matrix.

The office is located in Kalyani Trident and spans the 21st and 22nd floors. Hartford will pay ₹44.48 lakh per month for 76,701 sq ft on the 21st floor. Additionally, it will pay ₹47.79 lakh per month for 82,406 sq ft on the 22nd floor.

Lease Structure, Rentals, and Key Terms

The rent works out to ₹58 per sq ft per month across both floors. Hartford has paid a security deposit of ₹5.53 crore as part of the agreement.

The lease runs for five years with a three-year lock-in period. Moreover, the agreement includes a 15% rent escalation every three years. The company also secured 213 car parking slots, each charged at ₹3,500 per car per month.

The lease was officially registered on December 9, 2025, and Hartford paid a stamp duty of ₹14 lakh.

Hartford will begin paying rent for the 21st-floor space from March 1, 2026. Meanwhile, rent payments for the 22nd-floor premises will start from September 1, 2026.

Gachibowli’s Growing Appeal

Gachibowli continues to attract global occupiers. The micro-market benefits from steady demand from global capability centres, IT firms, and financial services companies. It also offers Grade A office developments, strong road connectivity via the Outer Ring Road, upcoming metro links, and easy access to the international airport.

As a result, Gachibowli remains a preferred destination for large, long-term office leasing deals.

Recent Transactions

Recent office transactions in Hyderabad reflect steady occupier confidence across key IT corridors. Large leasing deals by global firms highlight sustained demand for Grade A spaces, flexible lease structures, and well-connected micro-markets such as Gachibowli and Hitec City.

In a recent transaction, Global real estate consultancy Jones Lang LaSalle Property Consultants India (JLL) leased 1.21 lakh sq ft of office space at Prestige Skytech – Sky One in Poppalguda, Gandipet mandal, Hyderabad. In another transaction, Facebook India leased 69,702 sq ft office space in Hyderabad’s Hitec City.

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Facebook India Leases 69,702 Sq Ft Office Space in Hyderabad’s Hitec City

Facebook India office lease in Hyderabad

Meta Platforms’ Indian arm, Facebook India Online Services Pvt Ltd, has further strengthened its footprint in Hyderabad with a fresh office lease in the city’s prime IT corridor, Hitec City. According to the documents accessed by CRE Matrix, the company has signed a five-year lease for nearly 69,702 sq ft of Grade A office space. This reaffirms Hyderabad’s position as one of India’s most resilient and attractive technology hubs.

Details of the Lease Transaction

Facebook India has leased the space in Skyview 20, part of The Skyview commercial complex, from Mahanga Commercial Properties Pvt Ltd. According to the lease documents, the agreement was signed on December 2, 2025, with rent commencement starting on December 18, 2025.

The monthly rental is close to ₹67 lakh, translating to rentals of around ₹96 per sq ft. The lease agreement also includes a 15% rental escalation after three years, reflecting both the quality of the asset and sustained occupier confidence in the micro-market.

Reinforcing Hyderabad’s Tech and GCC Ecosystem

This large-format transaction highlights Hyderabad’s continued appeal to global technology companies, particularly for Global Capability Centres (GCCs). Over the years, Hitec City has evolved into a deeply institutionalised office market, offering scale, modern infrastructure, and long-term flexibility—key requirements for multinational occupiers.

Commenting on the transaction, Abhishek Kiran Gupta, CEO and Co-founder of CRE Matrix, said the deal underscores Hyderabad’s strength as a strategic GCC and technology hub. He noted that occupiers are increasingly willing to pay a premium for Grade A office assets that offer operational efficiency, scalability, and future-ready infrastructure.

Such transactions, especially at near-70,000 sq ft scale, signal sustained demand from global tech players and reinforce Hitec City’s status as one of India’s most stable and sought-after office micro-markets.

Meta’s Longstanding Presence in Hyderabad

Meta’s association with Hyderabad dates back to 2010, when the company opened its first India office in the city. Since then, it has consistently expanded its presence, making Hyderabad a key centre for its India operations.

In fact, towards the end of 2024, Meta renewed leases for a significantly larger office footprint—around 367,000 sq ft—within the same Skyview property. These renewals were executed through two separate agreements for an additional five-year tenure, with a total rental commitment of approximately ₹170 crore. The latest lease further consolidates Meta’s long-term commitment to the location.

Office Market Momentum Across India

Technology companies and flexible workspace operators led absorption during the year, driven by GCC expansion, return-to-office strategies, and India’s growing role in global business operations.

Facebook India’s latest lease in Hitec City is more than just an expansion—it is a strong endorsement of Hyderabad’s office market fundamentals. As global technology firms continue to deepen their India presence, well-located, Grade A assets in established IT corridors are likely to remain in high demand, supporting stable rentals and long-term market confidence.

Recent Transactions

Hyderabad’s commercial real estate market continues to gather momentum, with several large-format office space transactions in key micro-markets driven by technology companies and global capability centres expanding operations in the city.

In a recent transaction, Global real estate consultancy Jones Lang LaSalle Property Consultants India (JLL) leased 1.21 lakh sq ft of office space at Prestige Skytech – Sky One in Poppalguda, Gandipet mandal, Hyderabad. In another transaction, WeWork India leased 1,75,953 sq ft at Skyview 20 in Hitech City.

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JLL Leases 1.2 Lakh Sq Ft at Prestige Skytech, Hyderabad for ₹64 Lakh a Month

JLL leases office space in Hyderabad

Global real estate consultancy Jones Lang LaSalle Property Consultants India (JLL) has leased 1.21 lakh sq ft of office space at Prestige Skytech – Sky One in Poppalguda, Gandipet mandal, Hyderabad. The deal highlights growing confidence in the city’s western office corridor.

According to property registration data accessed from CRE Matrix, JLL leased the space from Mrs. Prahathi Madhu at a starting monthly rent of ₹64.13 lakh. The agreement was registered on November 28, 2025, with a security deposit of ₹3.85 crore.

Transaction Details

The lease covers 1,20,993 sq ft at a starting rent of ₹53 per sq ft per month. This translates to a monthly outgo of ₹64.13 lakh. The agreement runs for 60 months and includes a 36-month lock-in period. The deal also provides 134 car parking spaces. In addition, JLL will pay CAM charges of ₹13 per sq ft per month.

The property was scheduled for handover on September 15, 2025. However, the rent will start from April 15, 2026, giving JLL a seven-month fit-out or rent-free period. The lease includes a 15% rental escalation after three years from the rent start date.

Western Corridor Continues to Attract Grade A Demand

The transaction highlights steady demand for Grade A office space in Hyderabad. Emerging micro-markets such as Poppalguda and Gandipet continue to gain traction. Improved infrastructure and close access to the Financial District support this shift.

Large office leases by global real estate firms show that corporate occupiers still prefer long-term, high-quality assets. This trend continues despite the rise of hybrid work models. Hyderabad’s western corridor is now strengthening its position as a key hub for large office mandates and institutional-grade developments.

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Mahindra Logistics Locks 3.28 Lakh Sq Ft Lease in Telangana

Mahindra Logistics Locks 3.28 Lakh Sq Ft Lease in Telangana

Mahindra Logistics Ltd (MLL) continues to accelerate its nationwide growth strategy in 2025, with a clear focus on strengthening its presence beyond traditional metro markets. According to documents accessed by CRE Matrix, MLL has leased 3.28 lakh sq ft of warehousing space in Siddipet, Telangana. The move reflects a calculated push toward emerging industrial corridors and fast-growing Tier-II and Tier-III locations.

The warehousing facility has been leased from Sri Aditya Industrial Logistics Park Private Limited and is located at Baswapuram, Kothur (Mulugu Mandal), Siddipet district. According to lease documents, the agreement spans 60 months, with Mahindra Logistics committing to a monthly rental of ₹6.89 crore. 

This transaction reinforces MLL’s ambition to build a pan-India logistics network that goes beyond established metro hubs. With manufacturing and consumption dispersing into smaller cities, Siddipet’s strategic location offers proximity to growing industrial clusters and improved regional connectivity across Telangana.

Part of a Larger Expansion Playbook

The Siddipet lease is not an isolated transaction but part of an aggressive expansion cycle by Mahindra Logistics throughout 2025. In January, the company leased 4.75 lakh sq ft of warehouse space near Khed, Pune, under a five-year agreement valued at nearly ₹73 crore. Shortly after, MLL added almost 4 lakh sq ft of warehousing capacity in the Northeast, covering key markets such as Guwahati and Agartala.

In another major move, April 2025 saw the logistics major secure a long-term lease for 4.75 lakh sq ft near Kolkata’s Howrah district, one of the largest logistics leasing transactions in eastern India this year. Collectively, these deals reflect a deliberate effort to diversify MLL’s warehousing and distribution footprint across multiple regions — Telangana in the south, Maharashtra in the west, Assam and Tripura in the northeast, and West Bengal in the east.

Riding the I&L Real Estate Upswing

Mahindra Logistics’ expansion comes at a time when India’s industrial and logistics (I&L) real estate sector is witnessing record demand. According to CBRE South Asia, leasing activity across the top eight Indian cities touched 37 million sq ft during January–September 2025, marking a 28% year-on-year growth.

The momentum has been powerful in the first half of 2025, with leasing volumes reaching an all-time high of 27.1 million sq ft. Demand continues to be driven by third-party logistics (3PL) players, e-commerce firms, manufacturing companies, and consumer goods enterprises scaling up their supply-chain infrastructure.

While established hubs such as Delhi-NCR, Bengaluru, and Hyderabad still dominate leasing volumes, Tier-II and Tier-III markets are rapidly gaining traction. This structural shift toward geographically diversified warehousing is reshaping India’s logistics landscape — a trend that Mahindra Logistics appears keen to capitalize on.

The Bigger Picture

The Siddipet warehouse lease underscores Mahindra Logistics’ long-term confidence in India’s evolving supply-chain ecosystem. By aligning its growth strategy with emerging consumption centers and industrial belts, the company is positioning itself to serve clients more efficiently while future-proofing its logistics network in a decentralizing economy.

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

WeWork Leases 1.76 Lakh Sq Ft at Skyview 20 in Hyderabad

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.

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What Can ₹1 Crore Buy in Hyderabad? From 480 Sq Ft in Jubilee Hills to 1,448 Sq Ft on the Outskirts

What Can ₹1 Crore Buy in Hyderabad Area Comparison Across Key Localities

Hyderabad’s housing market shows a clear gap in value across locations. A ₹1 crore budget stretches very differently depending on where you buy — from compact homes in premium neighbourhoods near the IT corridor to significantly larger apartments in the city’s peripheral markets. This contrast is highlighted in the report How Much Sqft Can You Buy in Hyderabad for ₹1 Crore?, which maps how location continues to shape affordability across the city.

Prime Locations Offer Less Space for the Same Budget

In upscale Jubilee Hills, one of Hyderabad’s most premium residential pockets, a ₹1 crore budget buys just about 480 sq ft of apartment space. The locality’s proximity to Banjara Hills and Hitech City, along with strong commercial demand, keeps property prices elevated.

Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix, notes that the concentration of commercial activity in Jubilee Hills also contributes to higher residential values, as companies are willing to pay a premium to operate from prime locations.

Other high-demand locations within the IT corridor also command premium rates. In Kokapet, buyers get around 617 sq ft for ₹1 crore, while in Nanakramguda, the same budget offers roughly 698 sq ft. These micro-markets continue to attract end-users and investors due to their closeness to major technology hubs and corporate offices.

Mid-Tier Localities Offer Better Value

Neighbourhoods slightly away from the core IT corridor offer comparatively more space. In Serilingampally, a ₹1 crore budget translates to around 764 sq ft, while Narsingi offers about 772 sq ft. Osman Nagar and Kukatpally provide marginally larger options at around 815 sq ft and 842 sq ft, respectively.

These areas remain popular among homebuyers seeking a balance between connectivity to employment hubs and relatively better affordability.

More Space in Emerging and Peripheral Markets

As buyers move further away from central business districts, the value per square foot improves significantly. Rajendra Nagar offers approximately 933 sq ft for ₹1 crore, while Tellapur and Miyapur provide close to 983 sq ft and 1,009 sq ft, respectively.

The largest apartment sizes within the ₹1 crore budget are found in peripheral markets. Nizampet offers around 1,024 sq ft, Bachupally about 1,059 sq ft, Patancheru close to 1,140 sq ft, Pocharam around 1,330 sq ft, and Isnapur offers the maximum space at nearly 1,448 sq ft.

IT Corridor Continues to Drive Premium Pricing

West Hyderabad continues to dominate as the city’s prime residential zone due to its proximity to the IT corridor. Areas such as Jubilee Hills, Kokapet, and Nanakramguda benefit from sustained demand driven by corporate presence, infrastructure development, and lifestyle amenities. This concentration of commercial and residential demand has led to consistently higher property values in these locations.

Rising Demand Is Stretching Affordability

Hyderabad’s luxury and mid-premium housing segments have witnessed strong price growth in recent years. While demand remains healthy in the ₹1–2 crore bracket, affordability pressures are becoming more visible for mid-income buyers. Despite higher prices, transaction volumes continue to remain steady, indicating sustained buyer confidence in the city’s residential market.

East Hyderabad, while still relatively affordable compared to the western IT corridor, is emerging as the next growth frontier. Improved infrastructure and upcoming commercial development are expected to drive future price appreciation in these areas.

Luxury Housing Has Headroom for Growth

Hyderabad’s luxury housing segment is still in a relatively early stage of development compared to more mature markets. Only a few micro-markets currently command very high per-square-foot prices, leaving room for further appreciation as premium housing demand grows.

However, long-term growth will depend on sustained corporate investments, steady job creation, and continued expansion of the city’s technology and commercial ecosystem. As Hyderabad attracts more businesses and professionals, demand for high-end and mid-premium homes is likely to remain resilient.

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Hyderabad Real Estate Snapshot – Q4 CY’24: Value Resilience and Office Market Strength

Hyderabad Real Estate Market - Q4 CY 24

The Hyderabad real estate market in Q4 CY’24 showed signs of adjustment, balancing moderate activity with strong fundamentals. The latest CREDAI–CRE Matrix Hyderabad Housing Report – Q4 CY’24 highlights a shift toward higher-value transactions, reduced unsold inventory, and region-specific price appreciation, indicating sustained buyer confidence despite a slowdown in new launches and overall transaction volumes.

At the same time, Hyderabad’s office market continued to demonstrate strong momentum in Q4 CY’24. As per the CREDAI–CRE Matrix Hyderabad Office Report – Q4 CY’24, demand remained robust across Grade A/A+ spaces, driven by expanding GCC activity, rising co-working adoption, and large-format leasing transactions. Improved vacancy absorption, concentrated new supply in key commercial hubs, and long-term occupier confidence reinforced the city’s position as one of India’s most resilient office markets.

Residential Market: Lower Volumes, Stronger Value Metrics

The city recorded 16,644 residential unit sales in Q4 CY’24, marking a 22% YoY decline, with the total transaction value easing 9% YoY to ₹30,924 crore. New supply also moderated significantly, as only 11,081 units were launched, a 50% YoY drop, indicating a more measured approach by developers amid shifting demand dynamics.

Despite softer volumes, pricing strength remained intact. The average ticket size rose 17% YoY, highlighting sustained demand for larger and premium homes. Market efficiency improved meaningfully, with unsold inventory declining 14% YoY to 1,04,778 units, compared to 1,21,421 units in Q4 CY’23. On the pricing front, Hyderabad South West led the market with 15% YoY price appreciation, the highest across all regions during the quarter.

Notably, on a full-year basis, Hyderabad recorded residential sales worth ₹1.15 lakh crore in CY’24, marginally higher than Mumbai’s ₹1.05 lakh crore. This shift underscores Hyderabad’s growing depth as a high-value housing market, even as quarterly volumes show temporary moderation.

Office Market: Demand-Led Expansion Continues

Hyderabad’s office market delivered a strong performance in Q4 CY’24, supported by steady occupier demand and limited vacancy additions. Grade A/A+ vacancy levels declined by 1.5% YoY, reflecting improved absorption across key business districts.

Structural demand drivers remained firmly in place. Co-working space demand increased 26% in CY’24 compared to four years ago, while the GCC segment recorded an 8.6% CAGR in office occupancy over the past five years, reinforcing Hyderabad’s position as a preferred destination for global enterprises. Transaction sizes also scaled up, with office deals exceeding 1 lakh sq. ft. rising 2.2x between Q4 CY’23 and Q4 CY’24, indicating growing confidence among large occupiers.

On the supply side, Gachibowli dominated the market, accounting for 58% of new office completions in CY’24, further strengthening its status as the city’s primary commercial hub. In the broader context, Hyderabad also captured 17% of India’s Grade A office leasing in CY’24, placing it ahead of several larger metros, including Mumbai, in terms of annual leasing share.

Market Outlook

Taken together, the Q4 CY’24 data points to a market that is transitioning toward quality-led growth rather than volume-driven expansion. While the residential sector adjusts to near-term demand dynamics, strong office fundamentals continue to support employment growth, capital inflows, and long-term housing demand — positioning Hyderabad as one of India’s most resilient real estate markets.

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