Nielsen Media India Private Limited and its subsidiary, Whats On India Media, inked a major lease for office spaces in Goregaon, Mumbai. According to documents accessed by CRE Matrix, this transaction took place in two distinct deals.
Transaction Details
According to the documents accessed, the agreement involves leasing 1.52 lakh square feet of prime office space in Mumbai’s Goregaon East area. The office units are located in Commerze III, International Business Park, Oberoi Gardens. The lease spans a duration of 10 years, with a monthly rent starting at ₹3.87 crore.
First Deal
Whats On India Media Private Limited has leased 39,852 square feet of space, which includes a portion of the terrace. This agreement covers the entire 35th floor of the building and includes 42 car parking spaces. Out of these, 4 parking spaces require an additional payment of ₹5,000 per space. The company has submitted a security deposit of ₹8.03 crore. and the monthly rent for this area amounts to ₹1.004 crore. The agreement, registered on July 9, 2024, is set to commence on January 1, 2025.
Second Deal
In another transaction, Nielsen Media India Private Limited has leased the entire 36th, 37th, and 38th floors, along with part of the terrace, totaling approximately 1.124 lakh square feet. This lease entails a monthly rental of around ₹2.87 crore, along with a security deposit amounting to ₹22.9 crore. The rent for these three floors amounts to ₹255 per square foot per month. The lease includes 122 parking spots, with an option to lease an additional 11 parking spots at ₹5,000 per month each.
These deals demonstrate the robust demand for office spaces in Mumbai. With these significant acquisitions, Nielsen Media and its subsidiaries highlight their commitment to growing their operations in Mumbai’s major business districts.
Recent Office Space Transactions
The significant transactions that Mumbai’s commercial real estate market continues to experience are indicative of strong investor confidence. In a recent deal, Red Fox IT Infra LLP has invested a substantial sum of Rs 267.5 crore to acquire 22 office units in the Times Square building at Marol in Mumbai.
In a separate deal, Tata Digital Private Limited (TDPL) has extended the lease term for its Mumbai headquarters in Fort House for Rs. 3 crore per month. Additionally, Bollywood celebrity Amitabh Bachchan paid Rs 60 crore for three office suites at Mumbai’s Veer Savarkar Signature Building.
FloorTap connects you with commercial real estate stakeholders for effective decision-making, regardless of your role as a broker, tenant, or landlord.
