By Varun Singh

The rental realty market is doing good, in the last few days, a lot of realty deals took place in the city which have set a benchmark. These deals are also telling us that the market is slowly moving towards the pre-pandemic era. 

Yet another rental deal was registered in Mumbai’s Bandra Kurla Complex (BKC) area, this deal was carried out in the building named Platina. 

According to documents provided by ‘CRE Matrix, a real estate data analytics firm’ the deal was registered on September 16. 

The rental deal was registered between Avendus Capital Pvt. Ltd. which is the Licensee, whereas the the licensor is Raghuleela Estate Pvt Ltd (Wadhwa & Associates Realtors Pvt Ltd). 

There are two different leave and license agreement registered of which the first one is for Unit No. 801,901,1001, Platina, G Block, BKC. For this the monthly rental rent is Rs 2.11 crore whereas the security deposit for this deal is Rs 12.67crore. 

The second agreement is for Unit No. 302, Platina, G Block, BKC, for this the 42.45 lakh, whereas the security deposit is Rs 2.54 crore. 

The total chargeable area is 98,692 sq ft and the total per month rent is Rs 2.53 crore. 

The deal also consists of 80 car parks which the licensee will have access to in the building. 

The lease period:- 60 months of which Lock-In Period is 60 Months for both Licensor and the Licensee.

The rent escalation is 4% at the end of every 12 months.

Also Read: Oberoi Realty Ltd signs 18 acre Thane land deal

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