Mumbai Real Estate : Tata Digital Signs Major Lease For 58,668 Sq. Ft. At One International Centre In Lower Parel

Tata Digital Pvt Ltd has signed a major commercial lease agreement with One International Center Pvt Ltd for a sprawling 58,668 sq. ft. office space spread across three floors in Tower 1 of One International Centre, Lower Parel, Mumbai. The deal, registered on March 17, 2025 as per the document accessed by CRE Matrix, a real estate data analytics firm, marks one of the most significant Grade-A commercial leases in Mumbai’s central business district this year.

The leased premises include units 1501-02, 1601-03, and 1702-03 across the 15th, 16th, and 17th floors. The monthly rent is set at ₹1,05,60,235, translating to ₹180 per sq. ft., with a substantial security deposit of ₹7,07,53,572.

The license agreement is for a tenure of 60 months, commencing on February 1, 2025. However, Tata Digital will enjoy a rent-free period from the commencement date until July 15, 2025, with the rent becoming payable from July 16, 2025. An annual escalation clause will increase the rent by 5% every year during the lease term.

In addition to the rent, Tata Digital will bear monthly common area maintenance (CAM) charges of ₹21 per sq. ft., which amounts to approximately ₹12.3 lakh per month. The agreement also includes 49 dedicated car parking slots, for which an additional ₹4.9 lakh per month will be charged at ₹10,000 per parking space.