IDFC First Bank Leases 18 Floors of Office Space from Godbunder in Thane. The 18-story Quantum project in Godbunder Thane, with 4,48,242 square metres in Built Up Area (BUA), has been leased out by IDFC First Bank. According to real estate analysts, the aforementioned real estate acquisition represents one of the biggest deals in 2022 and illustrates banks’ and financial institutions’ long-term “work from office” strategy.
Details about IDFC First Bank Leases 18 Floors of Office Space from Godbunder in Thane:
“Availability of excellent office premises, proximity to talent pool, and infrastructure upgrades have enabled Ghodbunder Road, Thane emerge as a main alternative for back office operations in central suburbs,” claims Raja Seetharaman, co-founder of Propstack.
The owner of the expansive land in the Hiranandani Business Park near Godbunder in Thane, Roma Builders, and the IDFC First bank completed the transaction. 275 parking spaces are provided for cars at the property. Rs 56.49 lac in stamp duty has already been paid.
The bank has leased office space on the 5th to 13th level, 15th to 17th floor, and 20th to 25th floor, according to papers discovered through Propstack, a top real estate analytics company. The lease agreement for this area was recorded on August 30, 2022. Beginning on October 1, 2022, the licence will be valid for five years. Over the first five years of the contract, the bank will pay Rs 202.5 crore in rental for the office space, including upkeep.
Avendus Capital Private Limited, an investment bank, recently leased four floors at Platina, located in G Block in Bandra Kurla Complex, totaling approximately 1,00,000 sqft of saleable area, for a monthly rent starting at nearly Rs 2.53 crore. The Wadhwa Group, a well-known real estate development company, has leased the space to it.