Facebook India Online Services, a subsidiary of Meta Platforms Inc., has renewed its office lease at One BKC in Mumbai’s Bandra-Kurla Complex (BKC). This agreement involves a monthly rent of Rs 430 per sq ft, with an overall rental cost exceeding Rs 200 crore.
The renewal, effective from December 15, spans five years and encompasses the 5th and 7th floors of the tower, one of India’s pricier commercial locations.
The lease covers a car area of 46,678 sq ft, translating to a chargeable space of 70,167 sq ft. The total monthly rent exceeds Rs 3.02 crore at the agreed rate.
The landlord for this lease is One BKC Realtors Pvt Ltd. The tenant has also paid a security deposit of Rs 15.76 crore, with a clause in the contract specifying a 5% annual rental increase, as detailed in documents from realty data platform Propstack.
An email inquiry to Meta by RealtyDailyNews went unanswered by the publication deadline.
This lease renewal highlights the ongoing demand for Grade A office spaces in BKC, reflecting shifts in workplace strategies among global tech companies. Industry observers note that established tenants are increasingly choosing to maintain their premium locations, balancing hybrid work approaches with the need for top-tier office facilities.
BKC remains a coveted office location for multinational corporations, financial entities, and tech firms, thanks to its strategic positioning, excellent connectivity, and high-quality office supply. Rental prices in this micro-market have remained steady, with some transactions reaching among the highest rates in the nation.
This latest agreement signifies sustained leasing activity in Mumbai’s leading commercial hubs, even as tenants adjust their real estate strategies in response to evolving work environments.
