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In a major commercial real estate deal, Tata Digital, the Tata Group’s fast-growing digital arm, has leased approximately 59,000 sq ft of premium office space across three floors in Mumbai’s prominent business hub, Lower Parel. The leased premises are part of One International Centre, a Grade-A commercial complex, known for its strategic location and top-tier amenities.
Monthly Outgo and Lease Details
As per documents accessed via CRE Matrix, Tata Digital will be paying:
- Monthly rent: ₹1.05 crore
- Common area maintenance (CAM) charges: ₹12.32 lakh
- Total monthly outgo: ₹1.18 crore (approximately)
The lease agreement spans a five-year term and includes an annual rent escalation of 5%. A significant benefit for Tata Digital is a rent-free period from February 1 to July 15, 2025, with rent payments starting July 16, 2025. This kind of structure is becoming increasingly popular in high-value commercial leasing as it allows businesses a breather during setup.
Lease Commencement and Security Deposit
The official lease commencement date is February 1, 2025, and the lease was registered on March 17, 2025. Tata Digital has paid a security deposit of ₹7.07 crore, highlighting the scale and seriousness of the transaction.
The deal covers the 15th, 16th, and 17th floors of the tower and includes 49 dedicated car parking slots, with additional parking available at a charge of ₹10,000 per slot per month.
A Strategic Move by Tata Digital
This expansion reflects Tata Digital’s long-term vision and growing workforce. The Lower Parel location offers excellent connectivity, being close to corporate offices, luxury hotels, high-end residential zones, and retail outlets—making it a highly desirable location for large enterprises.
Market Insights: Commercial Leasing in 2025
India’s office leasing market in 2025 has remained remarkably strong, even amid global economic uncertainties. This resilience is driven primarily by the growth of Global Capability Centers (GCCs) and robust demand from tech and digital firms.
As more businesses look for front-office presence in metro cities like Mumbai, commercial hubs such as Lower Parel, BKC, and Andheri continue to see high leasing activity and limited vacancy in premium towers.
Expert Insight: Why This Deal Matters
- Premium Office Space Demand: Leasing in One International Centre underscores the demand for top-end, well-connected office buildings.
- Tata Group’s Confidence in Mumbai: This move signals continued trust in Mumbai as a central hub for innovation and digital transformation.
- Future of Workspaces: Companies are focusing on employee-centric office design with enhanced accessibility, and this deal fits that narrative well.
What's Next for Commercial Real Estate?
With the digital economy booming, companies are scaling operations and opting for larger, high-quality office spaces. Developers and landlords are responding by offering attractive leasing terms, including rent-free periods, flexible lock-in clauses, and premium amenities.
Disclaimer:
This article is based on publicly available records and market sources. Neither Tata Digital nor Nucleus Office Parks have officially responded to queries regarding the transaction. All information should be considered for informational purposes only and not as an official statement or investment advice.
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