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Sporta Technologies Leases 1.69 Lakh Sq Ft in Worli, Mumbai

Sporta Technologies, the parent company of the fantasy gaming platform Dream11, has secured a long-term lease for an office space spanning four floors in a commercial tower located in Mumbai’s Worli area. The deal involves total rental payments close to Rs 300 crore over the lease duration, marking one of the largest single-tenant office agreements in the city this year. The company has signed an agreement with K Raheja Corp to lease a 169,250 sq ft office space in the Ascent Worli project on Sudam Kalu Ahire Marg. This lease, lasting 60 months and featuring a 36-month lock-in period, includes…

US Firms Account for 33% of Office Demand in India’s Top 7 Cities

NEW DELHI: US companies have leased 64.5 million square feet of office space in India from 2022 to 2024 across seven major cities, accounting for more than one-third of total workspace leasing, according to JLL India. Data from real estate consultant JLL India shows that the total gross leasing of office space during the 2022-2024 period reached 190 million sq ft across Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, and Pune. Of this, US firms rented 64.5 million sq ft of office space primarily to establish their Global Capability Centers (GCCs). Approximately 70% of the office space rented was for setting…

Tidel Park Project Launching in Panjapur, Trichy

TRICHY: Tidel Park Limited, a state-owned enterprise, has established a special purpose vehicle (SPV) in collaboration with the Trichy corporation to develop office facilities for private IT and ITES firms in Panjapur. The corporation has leased approximately 14.1 acres of land adjacent to Panjapur KKBT to the SPV for a duration of 45 years, with the option for extension. In exchange for the land lease rights, the corporation has been allocated equity stakes worth ₹23.7 crore, with the total land value estimated at ₹47.5 crore. Sources indicate that the overall project cost will be around ₹462.5 crore, which includes the…