Varun Singh
Two big ticket deals in Delhi and Mumbai have created a buzz in the realty market. While one is a purchase, one is a rental deal.
In a big ticket deal that took place in Delhi on August 1. 2022, Aakash Chaudhry of Aakash Educational Services Ltd (now bought by BYJUs) has paid ₹137 crore for a bungalow.
The bungalow bought by Aakash is located in the Diplomatic Enclave of Kautilya Marg in Chanakya Puri area of the national capital.
According to Zapkey.com a data provider on realty based on publicly available documents, the bungalow that was registered in August 1, measures 1293.7 sq.mt. Stamp duty of ₹8.22 crore was paid for the registration of the deal.
According to reports, BYJUs recently acquired a majority stake in Aakash Educational Services.
While the national capital saw a big ticket deal, Mumbai witnessed a mega rental renewal.
Citicorp Services India renewed its lease of 1.6 lakh sq.ft. office space at Nirlon Knowledge Park in Goregaon.
According to CRE Matrix a real estate deal aggregator that provides data based on public documents, the office space is spread over six floors for a tenure of five years. The lock-in period is till September 2024. Citicorp Services will be paying a rental of nearly ₹137 crore across the total tenure which is of 60 months. The per month rent stands at ₹2.28 crore.
The lease tenure starts at September 15, 2022 and ends on September 14, 2027. The lock-in period is from September 15, 2022 to September 14, 2024. Whereas the notice period is of 6 months.
Citicorp Services India will be paying ₹13.87 crore as security deposit for the rental deal, showed the documents accessed through CRE Matrix. The landlord in this case is Nirlon.
As part of the rental deal, Citicorp will get access to 160 car parking slots. The lease was executed and registered on August 5.
A detailed email sent to Citicorp seeking their comment got us the following response, “Citi declines to comment.”
Abhishek Kiran Gupta, CRE Matrix, CEO, “This renewal lease by a multinational bank reaffirms the preference of Grade A quality buildings by large MNCs.
Morgan Stanley leased large space in Oberoi Commerz III
Duetsche Bank, Barclays, JP Morgan, BNP Paribas are existing tenants in Nirlon making it a financial institutions hub in Mumbai after BKC. With the completion of metro line on the western express highway, we foresee significant rise in Commerical offices development in mumbai suburbs along the express way.”
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