CRISIL, a leading global analytics and rating agency, has signed a long-term lease worth nearly Rs 6 billion for about 250,000 sq ft of office space in Mumbai’s Powai. The lease, among the largest in the city’s commercial property segment, spans approximately 15 years.

The company will occupy a new building at Hiranandani Business Park in Powai, one of Mumbai’s most premium business districts known for its modern infrastructure and connectivity. The lease, structured on a long-term model, underscores the growing demand for high-quality, large-scale office spaces from financial and knowledge-based firms in Mumbai.

 Industry experts said the transaction highlights confidence in Mumbai’s commercial property market, which continues to attract major occupiers despite rising rental costs. Real estate consultants noted that large corporates are increasingly opting for sustainable, tech-enabled office spaces to accommodate hybrid work models and future growth.

The Powai business district has witnessed several high-value deals recently, driven by strong infrastructure, accessibility to the airport, and availability of Grade-A office supply.