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
