CRE Matrix<\/a>, Air India has signed a lease deal to occupy commercial space spanning 6.2 lakh sq ft in Gurgaon, Sector 75, at an annual rent\u00a0<\/p>\n\n\n\nof around \u20b990 crore for 21 years.<\/p>\n\n\n\n
The airline, which was acquired by the Tata Group in January 2022, has leased blocks B, C, and E at E-Novation Centre, Sector 75, Gurugram, from Innovative Techno Park Pvt Ltd for an average rent of \u20b92.40 crore per month and \u20b943.29 crore annually. The blocks span an area of 3.61 lakh square feet.<\/p>\n\n\n\n
A \u20b914.40 crore security deposit is included in the rent, which starts at \u20b92.40 lakh per month. According to the records, the transaction involved the payment of \u20b93.89 crore in stamp duty.<\/p>\n\n\n\n
On October 18, the lease deed was registered.<\/p>\n\n\n\n
Additionally, the airline has leased a space of 2.66 lakh square feet for \u20b92.85 crore per month and \u20b948.04 crore annually. it has paid a \u20b917.10 crore security deposit for the transaction. On October 18, 2023, the lease was recorded, and \u20b94.32 crore in stamp duty was paid.<\/p>\n\n\n\n
The land has – 450 parking spaces.<\/p>\n\n\n\n
According to the records, there is a 4 percent rent escalation clause in the agreement at the end of each year.<\/p>\n\n\n\n
An earlier arrangement was inked by Air India Ltd to commercially lease Vatika One on One in Gurugram Sector 16 for five years at an annual rate of \u20b924.05 crore, spanning seven floors and 1.80 lakh square feet.<\/p>\n\n\n\n
Elevate your decisions in real estate as a developer or broker with CRE Matrix’s data-driven insights. Book a demo now<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"After being acquired by the Tata Group in January 2022, the airline now occupies blocks B, C, and E, which together cover 3.61 lakh square feet. Blocks in E-Novation Centre,…<\/p>\n","protected":false},"author":1,"featured_media":3747,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[148],"yoast_head":"\n
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