SBI Acquires 1.35 Lakh Sq Ft Office in Navi Mumbai
MUMBAI: The State Bank of India (SBI), the country’s largest lender, has secured approximately 135,000 square feet of office space across six floors in a commercial tower located in Navi Mumbai’s Airoli area through a long-term lease. This space will serve as the bank’s global IT center. The agreed rent is Rs 125.05 per square foot per month, amounting to a monthly expense of over Rs 1.68 crore. Importantly, this rent includes fit-outs, ensuring the space will be ready-to-use, thus minimizing initial capital costs and expediting the operational setup. As part of the lease agreement, SBI has made a security…