Hyderabad real estate market: Facebook renews office lease for ₹2.8 crore per month rent

The Facebook office is located in Hyderabad's Hitech City, one of the prime IT corridors in the city

Published on: Dec 26, 2024, 17:02:55 IST

By Souptik Datta

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Facebook has renewed its lease for 3.7 lakh sq ft office space in Hyderabad for ₹2.8 crore monthly rent across two separate transactions, registration documents accessed by Propstack showed.

Facebook has renewed its lease for 3.7 lakh sq ft office space in Hyderabad for ₹2.8 crore monthly rent across two separate transactions (Representational Image) (Abhijit Bhatlekar/ Mint)

The office is located in The Skyview in Hitech City — one of the prime IT corridors in the city.

The company paid ₹65.7 lakh rent for 84,053 sq ft for the transaction that was renewed in December.

In another transaction that was renewed in April, Facebook paid ₹2.15 crore monthly rent for 2.8 lakh sq ft.

The total tenure of the lease is five years. The company paid a total security deposit of ₹16.8 crore.

Also Read: Top multinational companies bet big on Hyderabad’s commercial real estate market, lease 8.7 lakh sq ft of office space

The rent will be escalated by 15% from January 2026 onwards, the documents show.

An email has been sent to Facebook. The story will be updated once a response is received.

In Hyderabad, geographically, the IT hubs (Gachibowli, HITECH City, etc.) are all concentrated in one zone (towards the west) and, hence, the demand for rentals in these areas remains high.

HITECH City saw its average rent go up from ₹23,000 per month in 2019 to nearly ₹27,500 per month in 2023 till date. Likewise, rents in Gachibowli have increased from ₹22,000 in 2019 to over ₹26,500 per month in 2023. This is also a 20 percent jump. Further, in Kondapur we saw rentals go up by 19 percent, according to data shared by ANAROCK.

Also Read: Google renews lease for 3.7 lakh sq ft office space in Hyderabad for five years at a monthly rent of ₹2 cr per month

Hyderabad real estate deals

In August Google renewed its lease for a 3.7 lakh sq ft office space in Hyderabad for five years with the landlord Megasoft Limited for a rent of ₹2 crore per month.

Google Connect Services India Private Limited has renewed the lease for 3.7 lakh sq ft office space spread across six floors in the building known as Salarpuria Sattva Knowledge Capital - Block 1 from the landlord Megasoft Limited.

The monthly rent for the office space is around ₹2.02 crore. The company has paid a deposit of ₹10.6 crore for renting the space. The rate per sq ft works out to be ₹55.2 per sq ft per month.

And in June, at least four commercial leases have been inked in Hyderabad by MNCs such as Qualcomm India, LTI Mindtree, S&P Capital IQ and IBM India. Monthly rents range between ₹70 lakh and ₹3.15 crore, the documents showed.

Parties involved in the transactions include homegrown and international corporate giants such as Qualcomm India, LTI Mindtree, S&P Capital IQ and IBM India. Meanwhile, the list of lessors features Divija Commercial Properties - a joint venture between RMZ Infotechpark and Zola Real Estate - and Midas Projects Private Limited.

ABOUT THE AUTHOR
Souptik Datta
Souptik Datta is a deputy chief content producer at Hindustan Times Digital, where he reports on southern India with a focus on real estate, urban infrastructure and environmental urban issues. His coverage tracks the intersection of policy, capital flows, regulation and sustainability, examining how these forces shape housing markets, commercial real estate and large-scale infrastructure development across rapidly transforming cities. He also closely tracks civic issues affecting urban residents, including property taxation, planning approvals, public transport expansion, water stress, waste management and the governance challenges that influence everyday life in India’s metros. Souptik’s reporting is driven by a strong interest in accountability, consumer rights and the lived realities of homebuyers and investors navigating volatile pricing cycles, regulatory changes and project delivery risks. He frequently analyses project launches, land monetisation strategies, planning frameworks, RERA-related developments and the broader implications of infrastructure investments on emerging growth corridors. His work blends on-ground reporting with data-backed analysis and long-form explainers aimed at demystifying complex real estate and infrastructure developments for readers. He is an alumnus of the Indian Institute of Journalism and New Media. Before joining Hindustan Times Digital, Souptik was associated with Moneycontrol at Network 18, where he covered real estate, infrastructure and allied sectors, producing market insights, policy-led stories and in-depth features. Outside the newsroom, Souptik is an avid solo traveller and documentary enthusiast, exploring diverse regions and visually documenting unique narratives through film and photography. In his early career, Souptik also freelanced as a documentary photographer, independently working on visual storytelling projects that captured grassroots narratives, urban change and everyday life. He can be reached at souptik.datta@htdigital.in.Read More

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