Tata AIA Leases 98,671 Sq Ft Office In Thane
ROADS & HIGHWAYS

Tata AIA Leases 98,671 Sq Ft Office In Thane

Tata AIA Life Insurance Company Limited has taken on lease an office of 98,671.09 sq ft on the 15th floor of Centaurus at Hiranandani Estate on Ghodbunder Road in Thane near Mumbai. The transaction was registered on July 31, 2026, with owner Roma Builders Private Limited, part of the House of Hiranandani Group managed by Surendra Hiranandani. The lease term is nine years and 11 months, commencing from 1 March 2026, and the registered total rent was Rs910 million (mn).

The company will pay a monthly rent of Rs6.71 mn, equivalent to about Rs68 per sq ft on the chargeable area, with rental payments beginning from 1 November 2026 after an eight-month fit-out period that runs from 1 March to 31 October 2026. The arrangement therefore allows the tenant time to prepare and customise the premises before rentals commence. The agreement includes 100 dedicated car parking spaces.

The lease provides for a five per cent annual escalation in rent. Based on the registered monthly rent and the stated escalation structure, the total base rent over the 119-month lease would be approximately Rs1.0023 billion (bn). In addition to rent, common area maintenance charges are set at Rs10 per sq ft per month, which translates to a monthly CAM outgo of roughly Rs0.987 mn based on the chargeable area. The agreement carries a security deposit of Rs67.1 mn, reported as about ten months of the initial monthly rent.

Harsh Hiranandani, director at the House of Hiranandani, said the developer was pleased to add Tata AIA to its roster of clients and that Centaurus had been designed to meet the scale, efficiency and digital needs of modern businesses, with a focus on intelligent and sustainable commercial spaces. Tata AIA did not respond to requests for comment. The deal underscores continued demand for large Grade A office assets in the Mumbai metropolitan region.

Tata AIA Life Insurance Company Limited has taken on lease an office of 98,671.09 sq ft on the 15th floor of Centaurus at Hiranandani Estate on Ghodbunder Road in Thane near Mumbai. The transaction was registered on July 31, 2026, with owner Roma Builders Private Limited, part of the House of Hiranandani Group managed by Surendra Hiranandani. The lease term is nine years and 11 months, commencing from 1 March 2026, and the registered total rent was Rs910 million (mn). The company will pay a monthly rent of Rs6.71 mn, equivalent to about Rs68 per sq ft on the chargeable area, with rental payments beginning from 1 November 2026 after an eight-month fit-out period that runs from 1 March to 31 October 2026. The arrangement therefore allows the tenant time to prepare and customise the premises before rentals commence. The agreement includes 100 dedicated car parking spaces. The lease provides for a five per cent annual escalation in rent. Based on the registered monthly rent and the stated escalation structure, the total base rent over the 119-month lease would be approximately Rs1.0023 billion (bn). In addition to rent, common area maintenance charges are set at Rs10 per sq ft per month, which translates to a monthly CAM outgo of roughly Rs0.987 mn based on the chargeable area. The agreement carries a security deposit of Rs67.1 mn, reported as about ten months of the initial monthly rent. Harsh Hiranandani, director at the House of Hiranandani, said the developer was pleased to add Tata AIA to its roster of clients and that Centaurus had been designed to meet the scale, efficiency and digital needs of modern businesses, with a focus on intelligent and sustainable commercial spaces. Tata AIA did not respond to requests for comment. The deal underscores continued demand for large Grade A office assets in the Mumbai metropolitan region.

Related Stories

Gold Stories

Next Story
Real Estate

Landmark Group plans Rs 150 billion NCR expansion

Landmark Group has announced expansion plans across two real estate projects in the National Capital Region (NCR), with a combined estimated sales potential of Rs 150 billion. The projects include Landmark One, a 2.1 million sq ft corporate office development on Golf Course Extension Road in Gurugram, and a proposed integrated hospitality, commercial and residential development on Dwarka Expressway.Landmark One has an estimated sales value of Rs 40 billion. The project involves an estimated construction investment of Rs 10 billion, apart from the underlying land, currently valued at around Rs ..

Next Story
Real Estate

RMZ entities secure 5-Star ratings in GRESB 2026

RMZ has been recognised as a Global and Regional Sector Leader in the 2026 Global Real Estate Sustainability Benchmark (GRESB) Real Estate Development Assessment, with three of its entities scoring 99.6 out of 100. RMZ Nexus LLP, Millenia Realtors Private Limited and Infralogix LLP secured 5-Star ratings in their respective categories across the Office and Industrial sectors.In the 2026 Development Benchmark, RMZ Nexus LLP and Millenia Realtors Private Limited were named Sector Leaders in the Office and Office Non-Listed categories in Asia. Infralogix LLP received the distinction in the Indust..

Next Story
Products

Schneider Electric deploys smart building systems at Jupiter Hospitals

Schneider Electric has partnered with Jupiter Hospitals to deploy connected building technologies aimed at improving energy efficiency, patient comfort and operational performance across its hospital campus. The deployment of its EcoStruxure Building Operation platform and SpaceLogic thermostats is helping the hospital achieve energy savings of up to 28 per cent, according to the company.With heating, ventilation and air-conditioning (HVAC) systems accounting for nearly 60 per cent of the hospital's total energy consumption, improving efficiency while maintaining the conditions required for pa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code