JP Morgan Leases 272,000 Sq Ft Office In Mumbai
ECONOMY & POLICY

JP Morgan Leases 272,000 Sq Ft Office In Mumbai

Global banking major J.P. Morgan Services has taken on lease nearly 272,000 sq ft of office space at One Downtown Central (Crisil House) in Powai, Mumbai, at a starting monthly rent of about Rs 92.3 million for a five-year term.

As per the registered leave-and-licence agreement, Cowrks India Private Limited has licensed a total carpet area of 271,955 sq ft across the ground floor and floors three to nine of the building to J.P. Morgan Services India. The transaction was registered on December 29, 2025.

The agreement sets an initial monthly rent of Rs 92.31 million, translating to a per sq ft rate of Rs 339.43. The lease tenure is 60 months, with a lock-in period of 30 months for both parties. Annual rent escalation has been fixed at 5 per cent, in line with prevailing norms for Grade A commercial properties in Mumbai’s eastern business corridors.

The rent commencement date is April 1, 2026, providing the tenant a fit-out and transition window before operations begin. J.P. Morgan has paid a security deposit of around Rs 553.9 million, equivalent to about six months’ rent, consistent with market practice for large institutional occupiers.

The lease also includes 312 car parking spaces. The property is owned by Kairos Properties and leased to Cowrks, which is backed by Brookfield.

Over the five-year term, J.P. Morgan’s total rental commitment is estimated at approximately Rs 6.12 billion, assuming the contracted 5 per cent annual escalation.

Global banking major J.P. Morgan Services has taken on lease nearly 272,000 sq ft of office space at One Downtown Central (Crisil House) in Powai, Mumbai, at a starting monthly rent of about Rs 92.3 million for a five-year term. As per the registered leave-and-licence agreement, Cowrks India Private Limited has licensed a total carpet area of 271,955 sq ft across the ground floor and floors three to nine of the building to J.P. Morgan Services India. The transaction was registered on December 29, 2025. The agreement sets an initial monthly rent of Rs 92.31 million, translating to a per sq ft rate of Rs 339.43. The lease tenure is 60 months, with a lock-in period of 30 months for both parties. Annual rent escalation has been fixed at 5 per cent, in line with prevailing norms for Grade A commercial properties in Mumbai’s eastern business corridors. The rent commencement date is April 1, 2026, providing the tenant a fit-out and transition window before operations begin. J.P. Morgan has paid a security deposit of around Rs 553.9 million, equivalent to about six months’ rent, consistent with market practice for large institutional occupiers. The lease also includes 312 car parking spaces. The property is owned by Kairos Properties and leased to Cowrks, which is backed by Brookfield. Over the five-year term, J.P. Morgan’s total rental commitment is estimated at approximately Rs 6.12 billion, assuming the contracted 5 per cent annual escalation.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code