From mint · Livemint · · 1m 10s
Sumitomo Mitsui Leases Mumbai Office Space
Japanese bank secures ₹189 crore Mumbai office lease for 50,000 sq ft.
In brief
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 over five years with rent escalations. Originally reported by mint.
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.
The main idea
Sumitomo Mitsui Banking Corporation leased 49,820 sq ft in Mumbai's BKC for ₹189 crore over five years with rent escalations.
