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Google India renews 5-year office lease in Mumbai’s BKC for a rent of ₹304 crore
Mumbai real estate update: The two transactions registered by Google are located in First International Financial Centre (FIFC) in Bandra Kurla Complex, Mumbai
Google India Private Limited and Google Cloud India Private Limited have renewed their office space leases in Mumbai’s Bandra-Kurla Complex (BKC), India's most expensive commercial district, for a rent of ₹304 crore over five years, according to property registration documents accessed by SquareYards.
The two Google entities registered the two transactions in First International Financial Centre (FIFC), a commercial building on 1.99 acres of land.
In the first transaction, Google India Private Limited has renewed its lease for an office space spanning a total chargeable area of 1.10 lakh sq ft (39,973 sq ft carpet) across two floors at FIFC for a monthly rent of Rs. 3.55 crore and a cumulative rent of ₹2.25 crore over five years. According to the documents, the agreement has been renewed for five years starting June 2025.
The per sq ft rent is ₹320 per month, with an escalation clause stipulating a 15% rent increase after 36 months. Additionally, Google India Pvt Ltd has paid a security deposit of Rs. 9.64 crore, a stamp duty of ₹1.87 crore and registration charges of Rs. 30,000, according to the documents.
The second transaction involves Google Cloud India Pvt Ltd, which has leased a chargeable area of 38,678 sq ft (25,141 sq ft) across one single floor of FIFC. The lease agreement includes a monthly rent of Rs. 1.24 crore and a cumulative rent of ₹78 across five years. Documents show that the agreement has been renewed for the next five years, starting June 2025.
Like the above deal, the per sq ft rent is ₹320 per month, with an escalation clause of a 15% rent increase after 36 months. Google Cloud India Pvt Ltd has paid a security deposit of Rs. 3.13 crore, a stamp duty of Rs. 66.92 lakh and registration charges of Rs. 30,000, documents further show.
The two transactions and 115 car parking spaces have been renewed, as per the registration documents.
The office spaces have been taken on lease from Earnest Towers Private Limited.
An email query sent to Google did not get any response. While Earnest Towers Pvt Ltd could not be reached for comment. The story will be updated if a response is received.
Also Read: SBI Funds Management Ltd buys two commercial units in Mumbai's Bandra Kurla Complex for ₹103 crore
All about the BKC real estate market
BKC is the city’s central business district (CBD) and a prime hub for the BFSI sector and Fortune 500 companies. It is one of the costliest commercial districts in India, with office spaces for Jio, Apple, Netflix, Facebook, Amazon, the National Stock Exchange, Standard Chartered Bank, WeWork, CISCO, Pfizer, Spotify, and Blackstone. BKC also houses government institutions like GST, the Reserve Bank of India, the Income Tax Department, and the Family Court. The US Consulate also has a sprawling campus inside BKC.
BKC, being in the centre of the western and eastern parts of the financial capital, is connected to the Western Express Highway (WEH), Bandra-Worli Sea Link, international airport, Eastern Express Highway (EEH), and Eastern Freeway, among several other arterial roads.
BKC made headlines last month for registering the country's highest-ever commercial lease rental transaction. Apple India Pvt Ltd has taken on rent 6,526 sq ft of space in Bandra Kurla Complex (BKC) in Mumbai at a monthly rental of ₹738 per sq ft, according to property registration documents accessed by Proptstack.com
