The Air India, which is now taken over by Tata Group has leased seven floors against 1.80 lakh square feet at Vatika One on One in Gurugram for a period of five years, at an annual rent of Rs 24.05 crore.
On September, Air India and Vatika One on One Pvt Ltd signed a lease agreement. According to it Air India is leasing 1,80,750 square feet of office space in Block 5 of Vatika One on One, for a monthly rent of Rs. 1.89 crore, spanning from the ground floor to the sixth floor.
Vatika One on One is a 12-acre office complex in Sector 16 of Gurugram, which is situated on National Highway 48 (NH48). It is only six kilometres away from the Indira Gandhi International Airport and has six separate towers facing a piazza, which is providing a signal-free connectivity.
According to the reports, Air India is progressing quickly after getting Privatized and paid an interest-free refundable security deposit of Rs. 11.34 crore as part of the agreement, which gives the lessor 180 parking spots for cars and an extra 18 places in Block 5.
The agreement of lease commenced on September 29, 2023, and the rent will be due six months from the starting date. The rent-free fit-out time has been granted to the lessor until the start of the rent period in March 2024. A condition of the agreement states that after three years, the annual rent will increase by 15 percent.
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