Tata Digital Pvt Ltd has just renewed the lease for its headquarters at Fort House, which is located in South Mumbai. The company is paying a hefty rent of Rs.2.98 crore per month, according to the document accessed by FloorTap.com.
The amount of security deposit paid for this commercial space amounts to Rs.15.03 crore. The document shows that, the office space comprises ground plus six floors with Tata Digital taking up space on each floor except 588 sq ft of space on the second floor. The entire office space expands over an area of 1.02 lakh sq ft.
The transaction deal between the parties regarding the modern office space was registered on May 16, 2024 and the lease period for the transaction is for three years between April 2024 to March 2027. The office space has been leased by Tata Digital Pvt Ltd from Dawat-E-Hadiyah, a public charitable trust.
The monthly rent is calculated as Rs.292 per sq ft. In the previous tenure of the lease, the monthly rent was Rs.2.50 crore or Rs.245 per sq ft for the period between April 2019 to March 2022, and Rs.2.88 crore or Rs.282 per sq ft for the period between April 2022 to March 2024.
The fort area, where Tata Digital has renewed its lease tenure is one of the oldest commercial business districts in South Mumbai. Fort area also houses several heritage buildings from the British era. Several Central and state government offices, including General Post Office, Mumbai Port Trust, Shipping Ministry, Maharashtra Maritime Board are located there. The old commercial business districts in South Mumbai include Nariman Point, Cuffe Parade, Churchgate and Marine Lines among others.
In a recent office deal in the Mumbai real estate market, the United Kingdom (UK) Consulate had bought 12 office units from Macrotech Developers Ltd for Rs.101.2 crore.. They buildings are operated under Lodha brand, in the project One Lodha Place in Lower Parel, Mumbai.
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