{"id":2887,"date":"2022-08-26T02:05:00","date_gmt":"2022-08-25T20:35:00","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=2887"},"modified":"2026-05-06T10:39:01","modified_gmt":"2026-05-06T05:09:01","slug":"yes-bank-leases-44000-sq-ft-office-at-r-tech-park-mumbai","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/yes-bank-leases-44000-sq-ft-office-at-r-tech-park-mumbai\/","title":{"rendered":"YES Bank Leases 44,000 Sq Ft Office at R-Tech Park Mumbai"},"content":{"rendered":"\n

India\u2019s office market continues to see steady recovery across key cities. The YES Bank Office Lease Mumbai deal highlights this trend as large and mid-sized occupiers actively secure office spaces. In line with this, YES Bank has leased new office space in Mumbai. According to documents accessed through CRE Matrix<\/a>, the deal reflects growing demand in established commercial hubs.<\/p>\n\n\n\n

Lease Details<\/strong><\/h2>\n\n\n\n

YES Bank has leased over 44,000 sq ft of office space. The space is located at R-Tech Park in Goregaon. The lease tenure is five years. The bank will pay a monthly rent of \u20b953.19 lakh. This takes the annual rental to nearly \u20b96.40 crore. The bank has also paid a security deposit of \u20b93.07 crore. The lease will run until September 2027. It includes a lock-in period of 18 months. The agreement for the lease was recently registered.<\/p>\n\n\n\n

YES Bank has taken space on the 11th floor of the south wing. It has also leased the 12th floor of the north wing. The space has been leased from Romell Real Estate.<\/p>\n\n\n\n

About R-Tech Park<\/strong><\/h2>\n\n\n\n

The office space is located in R-Tech Park. It is a commercial tower in Goregaon. The asset is part of an established IT and business hub in Mumbai. The location offers strong connectivity and access to key commercial areas.<\/p>\n\n\n\n

The leased office space is mortgaged with Housing Development Finance Corporation. The lender has issued a no-objection certificate for the lease transaction. A spokesperson from Romell Real Estate confirmed the deal. However, YES Bank did not respond to queries at the time of reporting.<\/p>\n\n\n\n

Market Trends<\/strong><\/h2>\n\n\n\n

The recovery in commercial real estate is gaining momentum. Office space demand is becoming broad-based across segments. This is reflected in the rising number of small and mid-sized lease deals. The office market has made a strong comeback in recent quarters. Economic growth and increased hiring have supported this trend. The return-to-office movement has also strengthened demand.<\/p>\n\n\n\n

India\u2019s office market recorded strong performance in the first half of 2022. Office transactions reached 25.3 million sq ft. This marked a 107% year-on-year growth. The data reflects improving market confidence and sustained recovery.<\/p>\n\n\n\n

Market Implications<\/strong><\/h2>\n\n\n\n

The IT and ITeS sectors continue to drive office leasing activity. Bulk hiring by these firms is increasing the demand for quality office spaces. The YES Bank office lease in Mumbai reflects steady leasing activity in key commercial hubs. It also indicates continued recovery in the office market, supported by economic growth and occupier confidence.<\/p>\n\n\n\n

Recent Transactions<\/strong><\/h2>\n\n\n\n

Recent real estate transactions in Mumbai continue to highlight steady leasing activity across key micro-markets. In one such deal, Citicorp Services India renewed its lease for 1.6 lakh sq ft of office space in Mumbai<\/a>, indicating its continued commitment to existing office locations and long-term operational stability. The deal reflects sustained demand from global financial institutions for large office spaces in established business hubs. It also indicates continued occupier confidence and a gradual recovery in the commercial real estate market.<\/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<\/strong><\/h2>\n\n\n\n