{"id":1464,"date":"2026-01-28T20:54:45","date_gmt":"2026-01-28T15:24:45","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=1464"},"modified":"2026-03-04T12:43:14","modified_gmt":"2026-03-04T07:13:14","slug":"jp-morgan-leases-13-lakh-sq-ft-in-powai-in-landmark-office-deal","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/jp-morgan-leases-13-lakh-sq-ft-in-powai-in-landmark-office-deal\/","title":{"rendered":"JP Morgan Leases 13 Lakh Sq Ft in Powai in Landmark Office Deal"},"content":{"rendered":"\n

JP Morgan Services India Private Limited has leased over 13 lakh sq ft of built-to-suit commercial office space in Powai, Mumbai. This is one of the largest office leasing transactions recorded in India. The deal involves a total rental commitment of approximately \u20b95,200 crore over a 20-year tenure, according to property registration documents accessed by CRE Matrix<\/a>. The space will house the American investment bank\u2019s global capability centre (GCC). <\/p>\n\n\n\n

Lease Details: Rentals, Tenure, and Financial Commitments<\/h4>\n\n\n\n

The office space is located at One Forest Avenue, Powai. In this transaction, BSS Property Ventures Private Limited and Rajeshwar Property Ventures Private Limited have leased the property to JP Morgan Services India. Both entities operate through an SPV backed by Brookfield Properties, which holds a stake in the development.<\/p>\n\n\n\n

Under the lease terms, the agreement starts at a monthly rent of \u20b939 crore. This translates to a starting rental of \u20b9300 per sq ft for the approximately 13 lakh sq ft leased area. Additionally, the built-to-suit office will span 19 floors, including the ground floor, and offer around 1,300 parking spaces.<\/p>\n\n\n\n

As part of the transaction, a security deposit of \u20b9468 crore has been paid. Further, the deal attracted a stamp duty of \u20b9125 crore, calculated on a 20-year tenure. It also includes a registration fee of \u20b930,000. Meanwhile, while the initial lease term is 10 years, rentals will escalate by 4.5% annually.<\/p>\n\n\n\n

Brookfield\u2019s GCC Development Strengthens Powai\u2019s Office Market
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Brookfield Properties earlier announced a \u20b99,000 crore investment to develop a 2 million sq ft global capability centre (GCC) in Powai. The campus is all set to become Asia\u2019s largest GCC for a multinational bank.<\/p>\n\n\n\n

The 6-acre development, slated for completion by 2030, will consolidate JP Morgan\u2019s Mumbai operations into a single, state-of-the-art campus.<\/p>\n\n\n\n

The transaction highlights India\u2019s growing dominance as a global GCC hub and reinforces Powai\u2019s status as a preferred office micro-market, driven by strong connectivity, a deep talent pool, and a mature mixed-use ecosystem.<\/p>\n\n\n\n

JP Morgan\u2019s Growing Office Footprint in India<\/h4>\n\n\n\n

JP Morgan is one of the world\u2019s leading financial services firms, with a strong and expanding presence in India. Over the years, the firm has steadily scaled its office footprint in Mumbai. This reflects India\u2019s importance as a strategic global capability and talent hub.<\/p>\n\n\n\n

In another transaction, JP Morgan Services India Private Limited leased over 2.71 lakh sq ft of office space in the same location of Powai<\/a>.<\/p>\n\n\n\n

Elevate your decisions in real estate as a developer or broker with CRE Matrix\u2018s data-driven insights. Book a demo now<\/a>!<\/p>\n\n\n\n

Media Mentions<\/em><\/strong><\/h4>\n\n\n\n