HDFC Bank has leased an 8-storey building with an area of 4.16 lakh sq. ft. from Mindspace Business Parks in Navi Mumbai.
Here are the key details:-
- Lease Duration: 10 years
- Total Contractual Value: Over ₹320 crore
- Location: Mindspace Business Parks, Airoli West, Navi Mumbai
- Lease Type: Two separate deals
- First deal: 1.97 lakh sq ft in Gigaplex Building 5
- Second deal: 218,217 sq ft in another building within the Mindspace complex
- Rental Escalation: 15% every three years
- Annual Rent: ₹24 crore
- Monthly Rent: ₹2 crore (₹49 per sq ft)
- Security Deposit: ₹12.23 crore
This significant lease demonstrates HDFC Bank’s expansion plans and its confidence in the Navi Mumbai commercial real estate market.
