By Varun Singh

Nykaa a beauty and wellness product brand that has made several headlines via two rental agreements rented out office spaces in Mumbai’s Lower Parel area.

There are two separate deals signed between Nykaa E-Retail Pvt Ltd and Marathon Realty Pvt Ltd. The first one is 201 & 301, 2nd & 3rd Floor, Marathon Chambers-A, IIT/ITES Park, Lower Parel, whereas the second one is 2705/2706/2707/2708, 27th Floor, A-Wing, IT/ITES Park, Marathon Futurex, Mafatlal Mill Compound, N.M. Joshi Marg, Lower Parel.

The per month rent for the deal one is Rs 41,15,423, whereas the security deposit is Rs 1.02 crore. Whereas the per month rent for the deal two is Rs 27,82,395 and the per security deposit is Rs 69,55,988. This takes the total rent per month to Rs 68,97,818.

According to documents provided by ‘CRE Matrix, a real estate data analytics firm, the total chargeable area is 55,146 sq ft whereas the carpet area is 34,467 sq ft.

The Lock-In Period is 5 yrs for Licensor & 3 years for the Licensee., whereas the rent escalation is 15% at the end of 36 months.

Both the deals were signed on August 25, 2022, along with the office space Nykaa will also have an access to total of 24 car parks.

Recently actor Salman Khan renewed the lease of his property that he has given on rent for another two years this time for a rent of Rs 89.60 lakh per month. The deal was signed in September first week, and the building is located on Linking Road in Santacruz.

Also Read: Salman Khan rents out property for Rs 89.60 lakh per month

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