A major real estate deal has been made by Blackrock Services India Private Limited who traded 42,700 square feet of office space in Worli, Mumbai for a monthly fee of ₹1.28 crore. This lease contract was executed on July 18, 2024 and registered with Whispering Heights Real Estate Private Limited which is a collaboration between K Raheja Corp Group and GIC of Singapore. The property is situated within Raheja Altimus, a famous business edifice within the vicinity.
According to property registration documents accessed by Propstack, Blackrock Services has paid a substantial security deposit of ₹12.81 crore for the lease, which spans five years from August 2024 to July 2029. The leased area, situated on the 13th floor of Raheja Altimus, is divided into two portions, with a chargeable area of 37,487 square feet and 5,213 square feet, respectively. The rent, starting at ₹300 per square foot, is set to increase annually, reaching ₹329 per square foot by August 2026. The security deposit will also increase to ₹14.72 crore in August 2027.
Raheja Altimus spread over 3.10 acres with a total leasable area of 1.12 million square feet, is home to several major corporate offices. This transaction adds to the list of high-profile leases in the building, following deals by Morgan Stanley and Barclays in recent years.
In a broader context, Mumbai’s commercial real estate market has seen a surge in leasing activity. Notably, in June 2024, Agni Commex LLP leased 5,830 square feet of space to IMC India Securities Pvt Ltd in Bandra Kurla Complex (BKC) at ₹700 per square foot, marking one of the highest rental deals in the area. Additionally, Nielsen Media recently leased 1.52 lakh square feet in Commerze III, International Business Park, Oberoi Gardens, at a starting rent of ₹3.87 crores per month for 10 years.
The transaction highlights the continued demand for premium office spaces in Mumbai, particularly in prime locations like Worli and BKC, as companies seek to establish or expand their presence in the city.
