IDFC First bank leases 4.48 lac sq.ft office Space in Godbunder Thane
The IDFC First bank did the deal with Roma Builders, owner of the sprawling property in Hiranandani Business Park at Godbunder in Thane. The property comes with 275 car parking space. Stamp duty of Rs 56.49 lac has been paid.
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The bank will be paying Rs 202.5 crore as rental for the office space over the first five-year tenure of the lease, including maintenance. (File)IDFC First Bank has leased out area admeasurung 4,48,242 sq.metres Built Up Area (BUA) comprising 18 floors Quantum project in Godbunder Thane. The said real estate transaction is believed to be one of the largest transactions in 2022 and indicates the long term ‘work from office’ strategy of banks and financial institutions, as per the real estate experts.
According to Raja Seetharaman co-founder of Propstack, “Availability of quality office spaces, proximity to talent pool, infrastructure improvements has helped Ghodbunder Road, Thane emerge as a primary alternative for back office operations in central suburbs.”
The IDFC First bank did the deal with Roma Builders, owner of the sprawling property in Hiranandani Business Park at Godbunder in Thane. The property comes with 275 car parking space. Stamp duty of Rs 56.49 lac has been paid.
According to the documents accessed through Propstack, a leading real estate analytics firm, the bank has leased the office space on the 5th to 13th floor, 15th to 17th floor, and 20th to 25th floor, and the deal for the same was registered on August 30th of 2022. The duration of the license is five years from October 1, 2022. The bank will be paying Rs 202.5 crore as rental for the office space over the first five-year tenure of the lease, including maintenance.
Recently, Avendus Capital Private Limited, an investment bank, had also leased four floors covering a total of approx. 1,00,000 sqft of saleable area at Platina located at G Block in Bandra Kurla Complex, for a monthly rent starting at about Rs 2.53 crore. It has leased the space from The Wadhwa Group, one of prominent real estate development companies.
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