NEW DELHI: Lenskart Solutions has signed a lease for 88,343 sq ft of office space at Worldmark 6, Aerocity, Delhi, from Alborz Developers, as per lease documents obtained from Propstack, a real estate data analytics company.
The leased area consists of the entire eighth floor, including Units 1 and 2, designated for office use. This marks a new lease agreement.
The lease commenced on April 1, 2026, and spans nine years. Lenskart will begin with a monthly rent of ₹210 per sq ft, resulting in an estimated monthly cost of around ₹1.86 crore.
Propstack estimates the overall rental value for the entire term to be about ₹232 crore, not including the rent-free period.
The agreement includes a 10-month fit-out and rent-free period starting from the lease initiation date. Rent will increase by 4.75% annually after the 37th month, as detailed in the rent schedule attached to the contract.
The initial interest-free refundable security deposit is approximately ₹7.42 crore, which is equal to four months’ starting rent. This deposit will adjust in line with the escalation schedule throughout the lease duration.
The lease includes a lock-in period of 36 months, outside of a four-month notice window. After this lock-in period, Lenskart has the right to terminate the lease with four months’ written notice.
The transaction also features a dedicated terrace measuring approximately 4,540 sq ft, which is excluded from the gross leasable area and will be provided to the tenant at no extra charge.
Lenskart is allocated 88 car parking spaces at ₹3,000 per space per month, plus applicable taxes. Both the parking fees and security deposit will increase by 15% every three years.
