HDFC Financial Institution Leases 2.5 Lakh Sq Ft Workplace House In Mindspace REIT’s Enterprise Park

HDFC has leased over 250,000 sq. toes of workplace house at Okay Raheja Corp-backed Mindspace Enterprise Parks REIT’s enterprise park in Navi Mumbai’s Airoli locality for 10 years, a number of individuals with direct data of the event stated.

The financial institution is planning to arrange its know-how and processing unit on the new workplace that can service its operations throughout the nation.

The workplace tower, which is a part of Mindspace enterprise park’s first section, is at the moment underneath improvement and is anticipated to be accomplished within the subsequent 3-4 months when the financial institution will begin its fit-out work.

“Each the events have already signed the letter of intent (LoI) for the deal and the stamp obligation has additionally been paid,” one particular person stated.

Out of round a million sq ft under-construction house, the developer has thus far leased 600,000 sq ft together with the cope with HDFC Financial institution.

The financial institution had entered into negotiations and a preliminary settlement a lot earlier than it introduced the plan to merge with its group entity HDFC, the nation’s largest non-public mortgage lender.

Mindspace Airoli West is a completely built-in enterprise park unfold over 50 acres and is a part of the Mindspace Enterprise Parks REIT portfolio. It has a complete leasable space of 5.2 million sq ft with future improvement potential of further 0.3 million sq ft, aside from 0.9 million sq ft under-construction space.

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