by THO
Google has renewed its lease for a 3.7 lakh sq ft office space in Hyderabad for five years with the landlord Megasoft Limited for a rent of ₹2 crore per month, documents accessed by Propstack showed.
Google Connect Services India Private Limited has renewed the lease for 3.7 lakh sq ft office space spread across six floors in the building known as Salarpuria Sattva Knowledge Capital – Block 1 from the landlord Megasoft Limited, they showed.
The lease deed was signed on August 27, 2024.
The monthly rent for the office space is around ₹2.02 crore. The company has paid a deposit of ₹10.6 crore for renting the space. The rate per sq ft works out to be ₹55.2 per sq ft per month, the documents showed.
The agreement comes with an escalation clause of 15% increase in rent after 36 months, the lease deed showed.
The landowner of the building is Megasoft Limited and the developer is Darshita Infrastructure Pvt Ltd.
An email has been sent to Google. The story will be updated once a response is received.
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In 2022, Google Connect Services India Pvt Ltd had renewed its lease for around 6 lakh sq ft of office space in Hyderabad for three years at an annual rent of ₹37.03 crore. The firm had then leased the ground, first, second, third, eighth and ninth floors in the building Meenakshi Technova spread across an area of 29,1708 sq ft, and the ground, fourth, fifth, sixth, seventh and tenth floors spread across 29,1708 sq ft. It has paid a deposit of ₹28 crore, the documents showed. The documents were registered on November 11, 2022.
Also Read: Google leases new office in Bengaluru for ₹4 crore monthly rent: Report
Other transactions
In May 2024, Google leased 649,000 square feet of office space in Alembic City, Whitefield, Bengaluru. The office space was leased with a three-year lock-in period at a monthly rental rate of ₹62 per square foot.
In 2023, Google had leased out over 29 lakh square feet (sq ft) of space in Bengaluru through six separate deals with a monthly rent in the range of ₹58 per sq ft to ₹230 per sq ft, registration documents accessed by Propstack showed.
Of the six transactions, five had been signed between Google India Private Limited and Google Connect Services India on the one hand and Bagmane Developers on the other, and one with managed workplace provider Table Space, revealed the registration documents dated February 2023.
Since 2020, Google has expanded its office space portfolio in India by 3.5 million square feet.
