JP Morgan India has signed a 10-year lease for 1.16 lakh sq ft in an under-construction project by Goisu Realty in Mumbai’s Bandra Kurla Complex (BKC). With a monthly rent of ₹6.91 crore starting October 2026, this deal underscores BKC’s continued appeal as a prime location for financial services firms.
JP Morgan Locks Major Lease in Mumbai’s Financial Nerve Centre
MUMBAI: In a major pre-leasing deal, JP Morgan’s India arm has secured 1.16 lakh square feet of premium office space in an under-construction commercial tower by Goisu Realty, the Indian subsidiary of Japan’s Sumitomo Realty and Development. The deal reaffirms Bandra Kurla Complex (BKC) as Mumbai’s most coveted banking and financial services address.
The lease, formalised on June 16, 2025, comes at a starting rent of ₹595 per square foot per month, translating to a monthly outflow of ₹6.91 crore. The agreement spans 10 years, with a 15% rent escalation every three years. The lease will commence in October 2026.
Strategic Location in BKC’s G-Block
The office space — covering the 11th and 12th floors — is part of a project rising in G-Block, one of BKC’s most desirable commercial precincts. The area already houses several major financial institutions, government entities, professional services firms, and the US Consulate.
Despite ongoing infrastructure bottlenecks and a tight supply of Grade A spaces, BKC continues to attract top-tier tenants. “BKC and its surroundings remain the preferred destination for financial services firms, with very low levels of vacancy,” said a property expert, noting that rental rates here consistently trade above ₹500 per sq ft per month.
Goisu Realty and the BKC Revival
Goisu Realty, which leased the land parcel from the Mumbai Metropolitan Region Development Authority (MMRDA) in June 2020 for 80 years, has emerged as a key developer in BKC’s new office supply pipeline. The company is developing two projects in the area, drawing strong interest from large occupiers.
Real estate consultants say that after a period of limited supply, BKC is witnessing a revival, thanks to upcoming projects by Goisu Realty, Prestige Group, and Adani Realty. Recent MMRDA land allotments are also expected to boost further the region’s quality and quantity of commercial stock.
A Signal of Optimism in Commercial Real Estate
The JP Morgan deal not only signals long-term confidence in Mumbai’s commercial real estate but also reflects the resilience of India’s financial capital as a hub for global corporations. With this pre-commitment, JP Morgan expands its footprint beyond its existing offices in Goregaon (East) and northern BKC, reinforcing its presence in the city’s prime business district.
Although JP Morgan and Goisu Realty declined to comment, industry insiders view this as a high-profile transaction that could set benchmarks for future deals in the area.
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