Netflix Extends a Monthly Rental Agreement For Commercial Space in Godrej BKC, Mumbai

Netflix Extends a Monthly Rental Agreement For 1.37 Lakh Sq Ft of Commercial Space in Godrej BKC, Mumbai for INR 4.28 crore

The term of the lease agreement is five years, with a three-year lock-in clause and a 5% annual increase.

Documents available on the IGR portal indicate that Netflix Entertainment Services India LLP has renewed its lease agreement for a 1.37 lakh square foot (sq ft) commercial space in Godrej BKC, situated in the Bandra Kurla Complex (BKC), Mumbai's most expensive commercial business district.

Monthly rent for the commercial space is Rs 4.28 crore, or Rs 313 per square foot. The organisation has reportedly paid a security deposit of Rs 34.30 crore, as evidenced by the documents.

The documents were registered on November 2, 2023, and 114 parking spaces are included in the transaction.

The lease agreement stipulates a duration of five years, which comprises the lock-in clause of three years. The documents indicate that there is a 5% annual increase applicable to the rental.