Educational company Byju's has taken up a 9,500 sq ft office at the commercial project Satellite Gazebo in Mumbai with a lease period of five years.
The company will pay Rs 1.67 crore annual rent for the office space. The lease agreement consists of an escalation clause to revise the rent 5% upward each year. The rentals include car parking charges, maintenance charges and property tax. The company will get access to six car parking zones within the office as a part of the lease agreement. JLL India, a property consultant, has facilitated the transaction. The property deal includes a lock-in period for the first 33 months. Till now, the company has paid Rs 79.80 lakh. Byju's registered the lease on 13th October 2021. Previously, the company has leased out four lakh sq ft office space in Bangalore from Prestige Group in its Outer Ring Road project. Image SourceAlso read: Cisco renews lease for nine commercial buildings in Bengaluru
