BNP Paribas Secures Prime Office Space in Mumbai’s BKC at ?811 Per Sq. Ft. Per Month

BNP Paribas Secures Prime Office Space in Mumbai’s BKC at ?811 Per Sq. Ft. Per Month

BNP Paribas Secures Prime Office Space in Mumbai’s BKC at ?811 Per Sq. Ft. Per Month

Global banking giant BNP Paribas has leased a 3,497 sq. ft. office space in Maker Maxity’s 1 North Avenue, Bandra Kurla Complex (BKC) at a monthly rental of Rs. 811 per sq. ft., making it one of the most expensive commercial property deals in India. The lease, finalized on February 18, will commence on August 16 for a five-year term, with the bank paying a total monthly rent of Rs. 28.36 lakh to Neelammegha Investments and Trading Company. As part of the agreement, BNP Paribas has provided a 12-month security deposit of Rs. 3.4 crore, and the lease includes a 5% annual rental escalation clause, according to Propstack records.

This high-value transaction follows Tesla Inc.'s recent record-setting lease in BKC at Rs. 881 per sq. ft., surpassing Apple Inc.'s previous Rs. 738 per sq. ft. deal in January. The transaction reflects Mumbai’s sustained demand for premium office spaces, reinforcing its status as a preferred hub for multinational corporations, financial institutions, and investment firms. Despite global economic fluctuations, industry experts note that high-profile leasing deals such as this highlight the resilience and continued growth of India’s commercial real estate market.

About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/