Online Education Firm Byjus Leases About 44,000 Square Feet Office Space in Andheri East Mumbai

According to real estate sources, online education startup and one of India's biggest startup unicorns, Byju's has rented office space in Mumbai's Andheri East neighbourhood for Rs 26.86 crore for a five-year period beginning January 1, 2022.

As per Mumbai real estate sources, the office space rented from Krishna Developers is furnished and has an 18-month lock-in term and annual rent increases of 5%.
Byju's has taken on lease Part B on the third level, occupying a 24,000-square-foot space for a monthly price of for the floor, which includes 11 parking spaces, a security deposit of Rs 13,39,2000 has been paid.

Additionally, the corporation rented units 101 through 106 on the first level, totaling 19,550 square feet. The level is equipped with nine parking spaces.

Many real estate brokers in Mumbai, particularly those who specialise in commercial real estate transactions, believe that Andheri is the most sought-after micro-market in the city for commercial office space for multinational corporations, large local corporations, and well-established Indian start-up unicorns. A large office leasing deal in Andheri East by one of India's top unicorn start-ups, such as Byju's, lends credence to this belief.

According to property specialists and market analysts, 2022 will see some relief on the vacancy and rental fronts, but only in Grade A buildings with single-digit vacancies. Rental pressures will continue to be intense in Grade B properties.

Byjus rented 5,701 sq ft of office space in Mumbai's Andheri East neighbourhood for Rs 13.9 lakh a month for five years in October 2021.

When it comes to commercial office space, Andheri East undoubtedly has an edge. This location is ideal for office enterprises because to its proximity to the Mumbai airport, excellent road access, and decent suburban and metro rail connectivity. Employees commute easily, and as a result, acquiring talent is not difficult. Additionally, proximity to Mumbai's de facto core business sector - BKC or Bandra Kurla Complex - is a plus.