Fund manager Blackrock Services India Pvt Ltd has leased 42,700 sq ft of office space in Mumbai's posh Worli for a monthly rent of Rs 300 per sq ft, documents accessed by data analytical firm Propstack showed.
The 5-year lease that commenced August 1, 2024, will have a monthly rent of Rs 1.1 crore for the first eight months and Rs 1.28 crore for the next four months. Additionally, the rent will have an escalation of 10 percent in April 2026, five percent in 2027, and other five percent in 2028.
The office space is located on the 13th floor of the office tower Altimus developed by realty developer K Raheja Corp’s subsidiary Whispering Heights Real Estate.
The lock-in period for the transaction is 36 months, and the company paid a security deposit of Rs 12.8 crore.
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