Corporate Leasing

Bank of America (BofA) has acquired 1.1 million square feet of Chennai office space in a major move. This sale is BofA's biggest office space transaction of 2023 and one of its largest captive centres outside the US. The DLF Downtown, Taramani site is for the bank's Indian back office.

Mumbai's office property market has set a new Indian lease rental record. The Toronto-Dominion (TD) Bank extended its India headquarters lease at Maker Maxity in the Bandra-Kurla Complex (BKC) for an astounding Rs 604 per sq ft per month.

Netflix Entertainment Services India LLP extended its lease for a 1.37 lakh square foot (sq ft) commercial premises in Godrej BKC, Mumbai's most expensive commercial business sector, according to IGR portal documents.

Maruti Suzuki, the largest automobile manufacturer in India, has leased 270,000 square feet of Tag Avenue in Gurgaon

SMFG India Credit Ltd., an affiliate of Sumitomo Mitsui Financial Group (SMFG), and Fullerton Financial Holdings (FFH), an established NBFC, have signed a major leasing agreement with Embassy Office Parks REIT.

LinkedIn Technology Information Private Limited (LTIPL) has strategically rented 17,794 sqft of premier office space at Maker Maxity, in Bandra Kurla Complex in Mumbai.

Amazon Data Services India buys a four-acre plot in Mumbai's lucrative Powai district. Larsen & Toubro's 18-year lease is the basis of this transaction.

Salman Khan Leases Out Prime Commercial Space in Santacruz, Mumbai

The foremost financial institution in India, HDFC Bank, has recently established its presence in the swiftly developing region of Navi Mumbai by acquiring 2 lakh square feet of premium property.

According to records acquired by Propstack, Wells Fargo International Solutions, a part of the US financial services major Wells Fargo, has extended its lease for more than 3.7 lakh square feet (sq ft) of commercial office space on 10 floors in Hyderabad for five years.

Axis Asset Management Company, the mutual fund investment unit of Axis Bank, has leased two floors of One Lodha Place, a Macrotech Developers-built commercial skyscraper in Lower Parel.

Hinduja Realty Ventures, the property arm of the Hinduja Group, has leased office space from Tata Communications Limited in Mumbai's Bandra Kurla Complex (BKC).

After a cautious first quarter, India's top six cities' office space absorption rose 2 percent to 14.6 million square feet in the second quarter of 2023, up from 14.3 msf in 2022.

The Executive Centre (TEC), a flexible workspace provider based in Hong Kong, has invested 100 crore in the first half of 2023 to lease approximately 200,000 square feet of space in eight centres.

Industry analysts say the delay in replacing the Special Economic Zones (SEZ) Act of 2005 with the Development (Enterprise and Services) Hubs Bill of 2022 is hurting major office park rentals since firms are unwilling to lease space in SEZ parks.