In a significant move, the Consulate General of the People’s Republic of China has signed a lease agreement for a residential apartment in Mumbai. The deal, finalized on February 29, 2024, was signed by Deputy Consul General Wang Wei, representing the Consulate General of China, and the landlords, of the apartment.

Details of the Lease Agreement

The leased apartment is situated on the 4th Floor of the N.C.P.A. Apartments, Nariman Point, Mumbai. The agreement also includes two car parking spaces. The lease term is set for 36 months. The area of the apartment is 3475 sq ft

Financial Terms

The financial terms of the agreement include:

  • Security Deposit: ₹6,48,313/-
  • Advance Monthly Rent: ₹77,79,750/-
  • Annual Rent Escalation: The rent for the subsequent years will increase as follows:
    • Year 1: ₹6,48,313/-
    • Year 2: ₹6,64,520/-
    • Year 3: ₹6,81,133/-

The deal was finalized on February 29, 2024, a date that occurs once every four years, adding a unique touch to the agreement.

Also Read: Subhash Chandra has rented his bungalow to Chinese Consulate in Mumbai

You May Also Like

Now No Need To Inform Collector Before Renting Out Apartments Built On Government Land.

A Circular issued by Government of Maharashtra has put an end to…

Mumbai in 21 Days of December sold more homes than Entire May month

Mumbai realty market is doing exceptionally well, if one compares the figures…

RR Kabel’s Promoters pay ₹51 Cr for a Home in Mumbai

In yet another a big ticket real estate deal RR Kabel Group…

MahaRERA Secy To Deal Non Compliance Application

MahaRERA has come out with a new order where secretary, MahaRERA can…