In one of the biggest office leasing deals in the country in recent years, infrastructure company J Kumar Infraprojects has leased 81,588 square feet in an office building in Bandra Kurla Complex area of Mumbai, said a source in the know of the development.
J Kumar will pay Rs 375 a square feet per month or Rs 37 crore annually to Parinee Developers, the owner of the building, for three years, including a six-month rent-free period. The amount includes property tax and common maintenance charges, the source added. The infra company has leased the space on the second, 11th and 12th floors in Crescenzo and both of them have registered the agreement. The space is part of the earlier floors leased by Parinee Developers to Sahara group (Aamby Valley) in 2012 and 2013. However, Sahara left the premises in mid-2015 without completing the term, probably due to the legal and financial troubles faced by the organisation, sources added.