Rent of Rs 2.8 crore per month
Social media giant Facebook has renewed its office lease in Hyderabad. The company has entered into an agreement to pay Rs 2.8 crore per month for its office space located in the Hi-tech City. The lease for 3.7 lakh square feet of office space was renewed in two separate transactions. Facebook agreed to pay Rs 65.7 lakh for 84,053 square feet of space and Rs 2.15 crore for 2.8 lakh square feet of space. The agreement is for a period of five years, with a security deposit of Rs 16.8 crore. The lease agreement includes a 15% rent increase starting from January 2026.
Due to the concentration of IT zones in Hyderabad, particularly around Gachibowli, Hi-tech City, and the Financial District, demand for rental properties in these areas is high. The average rent in Hi-tech City was Rs 23,000 per month in 2019, and it has risen to nearly Rs 27,500 by 2023. Similarly, rents in Gachibowli increased from Rs 22,000 per month in 2019 to Rs 26,500 in 2023. In Kondapur, rents have increased by 19%.
In August, Google also renewed its lease for 3.7 lakh square feet of office space in Hyderabad with a monthly rent of Rs 2 crore for a five-year term with the landlord Megasoft Limited. Google paid a deposit of Rs 10.6 crore for this lease. Other major MNCs like Qualcomm India, LTI Mindtree, S&P Capital IQ, and IBM have monthly rents ranging from Rs 70 lakh to Rs 3.15 crore.
