The airline, which will be owned by the Tata Group in January 2022, has taken up blocks B, C, and E, totaling 3.61 lakh square feet.<\/p>\n\n\n\n
According to documents accessed by CRE Matrix, a real estate data analytics firm, Air India has signed a lease deal for 6.2 lakh sq ft of commercial space in the E-Innovation Centre in Gurgaon, Sector 75, at an annual rent of more than 90 crore for 21 years.<\/p>\n\n\n\n
The airline, which was acquired by the Tata group in January 2022, has taken up blocks B, C, and E spread across an area of 3.61 lakh sq ft from the landlord, Innovative Techno Park Pvt Ltd, at an average rent of 2.40 crore per month and an annual rent of 43.29 crore.<\/p>\n\n\n\n
The starting monthly rent is 2.40 lakh, with a security deposit of 14.40 crore. According to the paperwork, a stamp duty of 3.89 crore was paid for the transaction.<\/p>\n\n\n\n
On October 18, the lease deed was recorded.<\/p>\n\n\n\n
The airline has also taken 2.66 lakh square feet at a monthly rent of 2.85 crore and an annual rate of 48.04 crore. It has made a security deposit of Rs. 17.10 crore for the transaction. The lease was registered on October 18, 2023, and a stamp fee of Rs. 4.32 crore was paid.<\/p>\n\n\n\n
There are 450 parking spaces on the premises.<\/p>\n\n\n\n
The agreement includes a 4% rent increase clause at the end of each year, according to the paperwork.<\/p>\n\n\n\n
Air India Ltd had previously agreed to commercially lease seven floors totaling 1.80 lakh square feet at Vatika One on-One in Gurugram Sector 16 for five years at a cost of 24.05 crores per year.<\/p>\n\n\n\n