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NPCI Picks Up 1.15 Lakh Sq. Ft. Office Space in Mumbai’s Goregaon

This move highlights the ongoing demand for Grade A commercial real estate in Mumbai, driven by leading institutions and multinational corporations.
NPCI Picks Up 1.15 Lakh Sq. Ft. Office Space in Mumbai’s Goregaon

The National Payments Corporation of India (NPCI) has leased 1.15 lakh square feet of office space in Mumbai's Goregaon area.

As per the agreement, NPCI will pay a monthly rental of Rs 2.15 crore. The lease includes a clause to escalate rentals by 15%, which will take effect after three years, taking the total rental payout to over Rs 136 crore over the entire tenure of the lease.

Here are some key details:
  • Location: Oberoi Commerz III, Goregaon East, Mumbai.
  • Floors: 27th and 28th floors
  • Lease Duration: Five years.
  • Monthly Rent: ₹2.15 crore, with a 15% escalation after three years.
  • Annual Rent: Over ₹25 crore
  • Rent per Sq. Ft.: ₹187 per sq ft
This move highlights the ongoing demand for Grade A commercial real estate in Mumbai, driven by leading institutions and multinational corporations.

The NPCI has several offices across India to support its operations. The key locations include Mumbai, Maharashtra, with addresses at Bandra East, Mumbai, and Raheja Titanium, Western Express Highway, Goregaon East. In Chennai, Tamil Nadu, NPCI's office is located Siruseri Information Technology Park, Kanchipuram. NPCI's Hyderabad, Telangana, office can be found at Ranga Reddy District.

Lastly, in Delhi, National Capital Territory, NPCI is located at Level 8, The Executive Centre, DLF Centre, Sansad Marg, Connaught Place, New Delhi.

These offices help NPCI manage and operate various retail payment and settlement systems across India, ensuring seamless and efficient digital transactions.

Recent Real Estate Deals in Mumbai:

  1. Morgan Stanley: Leased 1 million square feet of office space in Oberoi Commerz III for over nine years at a starting monthly rental of ₹15.96 crore.
  2. Nielsen Media and Whats On India Media Pvt Ltd: Leased 1.52 lakh square feet of office space in Oberoi Commerz III for a starting monthly rent of ₹3.87 crore for 10 years.
  3. Deloitte Shared Services India LLP: Leased 80,849 square feet of office space in Oberoi Commerz III at a monthly rent of ₹2.09 crore.
These transactions highlight the ongoing demand for Grade A commercial real estate in Mumbai, driven by leading institutions and multinational corporations.
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