# Sumitomo Mitsui Leases Mumbai Office Space

> Japanese bank secures ₹189 crore Mumbai office lease for 50,000 sq ft.
- Title: Sumitomo Mitsui Leases Mumbai Office Space · mint | Shortify
- Summary: Japanese bank secures ₹189 crore Mumbai office lease for 50,000 sq ft. Sumitomo Mitsui Banking Corporation leased 49,820 sq ft in Mumbai's BKC for ₹189 crore…
- Keywords: sumitomo mitsui banking corporation, mumbai, bkc, real estate, lease, japanese bank, india, news, Sumitomo, Mitsui, Leases, Office
- Source: mint — https://livemint.com/industry/real-estate/japanese-sumitomo-mitsui-banking-corporation-leases-50-000-sq-ft-office-space-in-mumbais-bkc-for-189-crore-11792298803609.html
- Author: Livemint
- Published: 2026-10-18T05:48:51+00:00
- Read time: 1 min
- Topics: sumitomo mitsui banking corporation, mumbai, bkc, real estate, lease, japanese bank, india, news
## Lease Agreement Details
Sumitomo Mitsui Banking Corporation leased 49,820 sq ft in Mumbai's BKC for ₹189 crore over five years.
## Rental Terms
Rental rate is ₹694 per sq ft per month, starting at ₹3.46 crore monthly.
## Annual Rent and Escalation
Annual rent will be ₹41.5 crore before escalations, with 15% increases every three years.
## Security Deposit and Rent-Free Period
Security deposit of ₹35.115 crore and nine-month rent-free period before payments start in June 2027.
## Sumitomo's Indian Expansion
Goisu Realty develops commercial spaces in Mumbai as part of Sumitomo's broader India expansion strategy.
## Previous Transaction in BKC
JP Morgan pre-leased 1.16 lakh sq ft in BKC for ₹6.91 crore monthly rent in 2025.
## BKC as Commercial Hub
BKC houses RBI, Income Tax Department, GST office, and major global companies including Apple and Google.
## Key takeaway

Sumitomo Mitsui Banking Corporation leased 49,820 sq ft in Mumbai's BKC for ₹189 crore over five years with rent escalations.