- A company has taken 1.56 lakh square feet of office space on lease
- The monthly rent is Rs 1.43 crore.
Global fast food giant McDonald’s is launching its first Global Capability Centre (GCC) in India. The company has leased 1.56 lakh square feet of office space in the HiTech City area for five years. This property, located in the RMZ Nexity Tower-20 in HiTech City, has a monthly rent of Rs 1.43 crores, as revealed by PropTech.
The lease agreement was made with Prahitha Constructions Private Limited, and the lease commenced on February 1. The space spans across four floors, totaling 1.56 lakh square feet. The rent comes out to Rs 92 per square foot. A security deposit of Rs 8.6 crores was made for this transaction. Starting from February 1, 2028, the rent will increase by 15%.
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Last year, Microsoft Corporation purchased 25 acres of land near Hyderabad for Rs 181.25 crores. This land was acquired from Natco Pharma Limited and Time Cap Pharma Labs Private Limited. Additionally, in December of the same year, Facebook renewed its lease for office space in Hyderabad, securing 3.7 lakh square feet with a monthly rent of Rs 2.8 crores in two separate transactions.
Meanwhile, Hyderabad currently holds a 15% share of the total office space in the country. Of this, more than 18% is green-certified office space, according to a CBRE report. With the growing demand from technology companies and Global Capability Centres, it is estimated that by 2030, the city’s office space inventory will exceed 200 million square feet.
