Mahindra & Mahindra Financial Services has leased nearly 2,75,000 sq ft office space in Piramal Realty’s commercial complex Agastya Corporate Park in Central Mumbai’s Kurla locality near business district Bandra- Kurla Complex (BKC).
The Mahindra Group Company is planning to consolidate operations of all its entities in the newly leased office. The company will be paying a monthly rental of Rs 2.50 crore, taking the total payout to around Rs 270 crore.
This is among the largest office lease transactions in the country’s commercial capital post the Covid-19 pandemic. The long-term lease for the total tenure of 10 years will start this month and will see a rental escalation of 5% every year.
Piramal Agastya spread over 16 acres on LBS Marg is one of the country’s largest non-IT commercial developments with a total project size of nearly 2 mn sq ft.
