Sanofi Healthcare leases 2.7 lakh sq ft office space in Hyderabad at a rent of more than ₹2 crore per month
Pharmaceutical giant Sanofi Healthcare has leased 2.7 lakh sq ft in Hyderabad's Hitech City for over ₹2 crore monthly for a period of five years
Pharmaceutical company Sanofi Healthcare has leased over 2.7 lakh sq ft of office space in Hyderabad's Hitech City for over ₹2.05 crore per month for five years, registration documents accessed by Propstack showed.
The office is located in RMZ Spire in Hyderabad. The document showed that the lease deed was signed on December 10, and the transaction was registered in January.
The company has leased space on the 11th to 17th floors and paid a security deposit of ₹15.3 crore. The lease deed has been signed between RMZ Constructions (India) Private Limited and Sanofi Healthcare India Private Limited.Also Read: Hyderabad real estate market: Facebook renews office lease for ₹2.8 crore per month rent
According to the documents, the lease period commenced on January 1, 2024, and the rent is applicable from July 1, 2025. The lease tenure is for five years and the rent will see an escalation of 15% after three years.
The document showed that the rent has been charged at the rate of ₹75 per sq ft, and the company has access to 303 parking spaces. Additionally, the company can purchase additional covered parking spaces by paying ₹5000 per unit.
{{/usCountry}}The document showed that the rent has been charged at the rate of ₹75 per sq ft, and the company has access to 303 parking spaces. Additionally, the company can purchase additional covered parking spaces by paying ₹5000 per unit.
{{/usCountry}}According to Propstack, the average rent in the RMZ Spire is about ₹73-80 per sq ft.
{{/usCountry}}According to Propstack, the average rent in the RMZ Spire is about ₹73-80 per sq ft.
{{/usCountry}}An email query has been sent to RMZ and Sanofi Healthcare. If a response is received, the story will be updated.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's IT corridor
{{/usCountry}}An email query has been sent to RMZ and Sanofi Healthcare. If a response is received, the story will be updated.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's IT corridor
{{/usCountry}}In Hyderabad, the IT hubs - Gachibowli and HITECH City - are all concentrated in one zone (towards the west) and, hence, the demand for rentals in these areas remains high.
{{/usCountry}}In Hyderabad, the IT hubs - Gachibowli and HITECH City - are all concentrated in one zone (towards the west) and, hence, the demand for rentals in these areas remains high.
{{/usCountry}}HITECH City saw its average rent go up from ₹23,000 per month in 2019 to nearly ₹27,500 per month in 2023. Likewise, rents in Gachibowli have increased from ₹22,000 per month in 2019 to over ₹26,500 per month in 2023, a 20 per cent jump. Further, in Kondapur, the rentals shot up by 19 per cent, according to data shared by ANAROCK.
Other real estate deals in Hyderabad
Last year, Facebook renewed its office space lease for 3.7 lakh sq ft in Hyderabad for ₹2.8 crore monthly rent across two separate transactions, HT.com reported.
The company paid ₹65.7 lakh as rent for 84,053 sq ft for the transaction that was renewed in December. In another transaction renewed in April, Facebook paid ₹2.15 crore monthly rent for 2.8 lakh sq ft.
In August 2024, Google renewed its five-year lease for a 3.7 lakh sq ft office space in Hyderabad with Megasoft Limited at a rent of ₹2 crore per month.
Google Connect Services India Private Limited had renewed the lease for 3.7 lakh sq ft of office space spread across six floors in the building known as Salarpuria Sattva Knowledge Capital—Block 1 from 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, property documents had shown.
