{"id":469,"date":"2024-02-08T11:03:19","date_gmt":"2024-02-08T11:03:19","guid":{"rendered":"https:\/\/www.floortap.com\/resources\/?p=469"},"modified":"2024-02-08T11:06:35","modified_gmt":"2024-02-08T11:06:35","slug":"axis-bank-leases-over-81000-sq-ft-office-space-in-mumbais-vile-parle","status":"publish","type":"post","link":"https:\/\/www.floortap.com\/resources\/axis-bank-leases-over-81000-sq-ft-office-space-in-mumbais-vile-parle\/","title":{"rendered":"Axis Bank Leases Over 81,000 sq ft Office Space in Mumbai&#8217;s Vile Parle"},"content":{"rendered":"\n<p>Axis Bank has recently leased over 81,300 square feet of office space in Mumbai&#8217;s Vile Parle, specifically in the Parle Product Factory Compound. This lease agreement spans five years and entails a monthly rent of Rs 85.37 lakh, with a provision for a 12% rental escalation after the initial three years.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Key Details<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Location:<\/strong> Mumbai&#8217;s Vile Parle<\/li>\n\n\n\n<li><strong>Lease Term:<\/strong> 5 years<\/li>\n\n\n\n<li><strong>Monthly Rent:<\/strong> Rs 85.37 lakh<\/li>\n\n\n\n<li><strong>Rental Escalation:<\/strong> 12% after 3 years<\/li>\n\n\n\n<li><strong>Exclusive Parking:<\/strong> 81 four-wheeler spaces and 300 two-wheeler slots<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Lease Agreement Details<\/strong><\/h2>\n\n\n\n<p>The lease and rent commencement dates are set in 2024. Axis Bank will have exclusive access to 81 four-wheeler parking spaces and 300 two-wheeler parking slots. The agreement includes a provision for a 12% rental escalation after the initial three years.<\/p>\n\n\n\n<p><strong>Security Deposit:<\/strong> Axis Bank has paid a security deposit of over Rs 5.12 crore for the lease agreement.<\/p>\n\n\n\n<p><strong>Property Consultant Data:<\/strong> Recent data from <a href=\"https:\/\/www.crematrix.com\/\">CRE Matrix<\/a> shows that net office space absorption in India\u2019s top seven cities surpassed the 40-million-sq-ft mark in 2023, marking a significant milestone post-COVID.<\/p>\n\n\n\n<p>The leasing of this <a href=\"https:\/\/www.floortap.com\/supply\/commercial-property-for-lease\/2\/mumbai\/Vile%20Parle%20(E)\">office space in Vile Parle<\/a> represents a strategic move for Axis Bank and aligns with the bank&#8217;s expansion plans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Axis Bank has recently leased over 81,300 square feet of office space in Mumbai&#8217;s Vile Parle, specifically in the Parle Product Factory Compound. This lease agreement spans five years and entails a monthly rent of Rs 85.37 lakh, with a provision for a 12% rental escalation after the initial three years. Key Details Lease Agreement [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[15],"tags":[24,17],"class_list":["post-469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media","tag-office-space","tag-real-estate-transaction"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Axis Bank Leases Over 81,000 sq ft Office Space in Mumbai&#039;s Vile Parle - FloorTap Resources<\/title>\n<meta name=\"description\" content=\"Axis Bank has recently leased over 81,300 square feet of office space in Mumbai&#039;s Vile Parle, specifically in the Parle Product Factory Compound. 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