Co-working space operator WeWork India has leased 1.26 lakh square feet of commercial space in the Powai area of Mumbai for Rs 1.38 crore per month. The space is located on the 6th, 7th, and 8th floors of the Light Bridge building in the Saki Vihar area of Andheri East, which is famously known as Powai. The agreement was signed for a yearly rent of Rs 16 crore, and the lease will be valid for five years, starting in August 2025 and continuing until August 2023.
The registration for the lease was completed on November 29, 2024, with a stamp duty of Rs 22 lakh and a registration fee of Rs 1,000. A security deposit of Rs 4.14 crore was paid. The property was leased by two companies, Gamma Construction Private Limited and Niranjan Hiranandani, part of Hiranandani Developers. The agreement also includes 84 car parking spaces.
WeWork India recently vacated its previous space in the Chromium building in Powai and has moved into this new space.
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