Deal Terms

• Premises: Unit Nos. 1 to 7 on the 17th floor (16th slab level) of Lotus Nilkamal Business Park, New Link Road, Andheri West
• Area: Approximately 6,000 sq ft built-up, with seven reserved car parking spaces (Nos. 147 to 153) on the first podium level
• Licence period: 60 months (5 years), from 1 April 2026 to 31 March 2031
• Monthly licence fee: ₹17,00,000 for the first three years (April 2026 to March 2029)
• Escalation: 15% increase from 1 April 2029, taking the fee to ₹19,55,000/month for the remaining two years
• Payment terms: Payable in advance by the 7th of each month, after TDS deduction; GST and similar taxes to be borne by the licensee
• Security deposit: ₹68 lakh, interest-free and refundable, with the licensor entitled to retain 45 days’ licence fee pending clearance of dues and restoration of premises
• Lock-in period: 36 months for both parties; early exit by the licensee requires payment of fees for the unexpired lock-in term
• Tax and maintenance split: Property tax (MCGM), water charges and maintenance to be paid by the licensor; electricity and telecom charges to be paid by the licensee based on actual usage
• Stamp duty and registration: ₹2,78,900 stamp duty and ₹1,000 registration fee, paid by the licensor
• Legal structure: The agreement is a permissive licence only, conferring no tenancy rights under the Maharashtra Rent Control Act, 1999
• Usage: Premises to be used strictly for office purposes, with access to common facilities including cafeteria, banquet halls, meeting rooms and gymnasium

The licensee’s authorised signatory executed the agreement pursuant to a board resolution dated 14 April 2026. Any dispute arising from the agreement falls under the exclusive jurisdiction of Mumbai courts.

Market Context

The transaction adds to a growing list of celebrity-owned commercial properties being leased to corporate occupiers along Mumbai’s western suburban office corridors. New Link Road in Andheri West has emerged as a preferred address for mid-sized companies seeking Grade A commercial space outside the more expensive Bandra-Kurla Complex, and long-tenure deals of this kind, with built-in escalation clauses and multi-year lock-ins, reflect the kind of stable, long-term rental income that has made commercial leasing an increasingly attractive avenue for high-net-worth individuals looking to monetise owned real estate.

Also Read: Hrithik Roshan Buys ₹28-Crore Office Space in Juhu’s Premium Yura Project

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