Netflix India renews office lease at Godrej BKC for five years

Netflix has renewed the lease for its two office units in Mumbai's Godrej BKC for a monthly rental of ₹4.28 crore. The lease is for five years with a 5% annual rental escalation.

Mumbai: Netflix Entertainment Services India LLP has renewed the lease for its two office units in Godrej BKC in G Block of Bandra Kurla Complex (BKC) on a monthly rental of ₹4.28 crore.

Netflix India renews office lease at Godrej BKC for five years

Netflix has signed a lease agreement with D Decor Properties LLP for units 1101 and 1201 on the 11th floor in Godrej BKC, spanning 1.37 lakh sq ft. The transaction was registered on Thursday. The OTT giant has agreed to pay a security deposit of ₹34.30 crore for both the units, according to the registration documents accessed and shared by FloorTap.com, CRE Matrix group’s platform for commercial properties.

Netflix will pay a rental of ₹313 per sq ft, and will get a total of 114 car parking spaces, according to the documents. The lease period is for five years, and the rentals will see a 5% escalation annually, the documents said.