IMC India secures Prime-Property in Mumbai: Leases Office space for Rs.700/sq.ft

In one of the greatest rent rentals in Mumbai’s BKC, Agni Commex has rented an office space to IMC India Protections Pvt Ltd for Rs. 700 per sq ft.

According to documents accessed by Propstack, Agni Commex LLP gave IMC India Securities Pvt Ltd a commercial space in BKC in Mumbai for 700 per sq ft per month in what may have been one of the highest lease rentals ever paid for an office space for the short term.

According to the documents, IMC India Securities Pvt Ltd has leased the commercial space in Maker Maxity 4, a commercial office building in BKC, for 40.81 lakh rupees per month, or 700 rupees per square foot. 

The finance and insurance company IMC India Securities Pvt Ltd has leased the commercial space from Agni Commex. Local brokers say that the deal is important because the rent per square feet will reach 700.

The current rate for a square feet in BKC is between 500 and 550 yen, but the most recent deal for 700 yen only lasts for five months. According to local brokers, short-term deals typically command a premium.

The lease agreement that was concluded in BKC at a price of 700 per square foot, according to real estate consultants, is the highest lease deal ever concluded in BKC, but not in the nation. The costliest rent bargain such a long ways as far according to sq ft rate is the Barclays bargain in Worli at ₹725 per sq ft. In Maker Maxity 5, IMC India has leased two additional offices totaling more than 10,000 square feet.

IMC India had leased 42,700 square feet in Worli for a ten-year lease in March 2024, with a monthly rent of 1.36 crore rupees.