Tata AIA Life Insurance Company Limited has leased a large office space measuring 98,671.09 sq ft in Thane, near Mumbai for over 11 years at a total rent of ₹91 crore, according to property registration documents accessed by CRE Matrix.
The space has been leased at a building named Centaurus of Hiranandani Estate on Ghodbunder Road, and the transaction was registered on July 31, 2026, with the owner Roma Builders Private Limited, entity of the House of Hirananadani Group, managed by Surendra Hiranandani.
According to the documents, Tata AIA will pay a monthly rent of ₹67.1 lakh for the office premises, translating to approximately ₹68 per sq ft per month on the chargeable area. The company has taken the property on lease for nine years and 11 months, with the lease commencing from March 1, 2026.
However, the rent will become payable from November 1, 2026, after an eight-month fit-out period. The fit-out period runs from March 1, 2026, to October 31, 2026, allowing the tenant time to prepare and customise the premises before commencing rental payments.
The agreement provides for a 5% annual escalation in rent. Based on the registered monthly rent and the stated escalation structure, the total base rent over the entire 119-month lease period would be approximately ₹100.23 crore, assuming the 5% escalation is applied annually throughout the tenure.
{{/usCountry}}The agreement provides for a 5% annual escalation in rent. Based on the registered monthly rent and the stated escalation structure, the total base rent over the entire 119-month lease period would be approximately ₹100.23 crore, assuming the 5% escalation is applied annually throughout the tenure.
{{/usCountry}}In addition to the rent, Tata AIA will pay CAM charges of ₹10 per sq ft per month. Based on the chargeable area, the monthly CAM outgo works out to approximately ₹9.87 lakh. The agreement also carries a substantial security deposit of ₹6.71 crore, equivalent to roughly 10 months of the initial monthly rent.
The leased premises are located on the 15th floor of Centaurus at Hiranandani Estate, one of the prominent mixed-use developments along Ghodbunder Road in Thane West. The transaction also includes 100 car parking spaces, indicating the scale of the office requirement.
"We already have the privilege of hosting TCS as one of our marquee clients, and are absolutely delighted to expand this association by adding Tata AIA to that esteemed list as well. Centaurus is designed to meet the scale, efficiency and digital needs of modern businesses. Our vision is to create intelligent, future-ready and sustainable commercial spaces that shape the workplace of tomorrow,” said Harsh Hiranandani, Director, House of Hiranandani
Tata AIA Life Insurance Company Limited could not be reached for comment.
Also Read: ₹98 crore">Aon Consulting leases nearly 2 lakh sq ft office space in Bengaluru for ₹98 crore
Commercial leasing scenario in India
Large office space transactions of 100,000 sq ft and above anchored India's commercial office market during H1 2026, accounting for 28.2 mn sq ft of leasing activity across the eight leading cities, according to a report released by Knight Frank India. The report stated that Bengaluru and Hyderabad had the highest leasing activity due to leasing by Global Capability Centres (GCCs) among India's eight cities.
The eight cities include Bengaluru, Hyderabad, Delhi NCR, Mumbai, Pune, Kolkata, Chennai, Ahmedabad. The report said that large office transactions contributed 59% of the total office leasing volume of 48.0 mn sq ft, underscoring the continued preference of large occupiers for Grade A office assets.