In a significant move underscoring confidence in Mumbai’s Grade A commercial real estate, Tata Digital Pvt Ltd has leased nearly 59,000 square feet of premium office space at One International Centre, Lower Parel. The deal highlights the company’s strategic expansion plans and the growing appetite for high-quality workspaces among digital-first firms.

The new lease spans four floors—3rd, 15th, 16th, and 17th—within Tower 1 of the landmark complex. According to lease documents accessed by real estate analytics firm CRE Matrix, Tata Digital will pay a starting monthly rent of ₹1.06 crore, working out to ₹180 per square foot. The agreement includes 49 parking spaces and covers a five-year term beginning February 1, 2025. A rent-free period of 5.5 months applies, with payments starting from mid-July 2025.

“This transaction reflects the ongoing strength of Mumbai’s Lower Parel office market,” said CRE Matrix, noting that the ₹180 per square foot rate aligns with prevailing premium prices in the area. Lower Parel has emerged as a hotspot for corporate occupiers due to its central location, excellent connectivity, and availability of world-class office infrastructure.

The lease terms include a 5% annual rent escalation—standard for the market—and fixed common area maintenance (CAM) charges of ₹21 per square foot. In addition, Tata Digital will pay ₹10,000 per month per parking slot, further adding to the deal’s high-value profile.

Industry analysts view this agreement as a strong signal of landlords’ ability to command top-tier rents, especially in core business districts. “The 5% annual escalation clause is consistent with market standards, balancing landlord interests against tenant predictability,” CRE Matrix added.

Tata Digital’s decision to lock in a long-term lease at one of Mumbai’s most prestigious addresses underlines the sustained demand for large, flexible office footprints among tech and digital firms. A rent-free window is also a strategic incentive, especially in an increasingly competitive leasing environment.

This development reinforces Lower Parel’s standing as a preferred corporate destination and exemplifies how digital companies shape the city’s commercial property dynamics. As firms prioritise collaborative, amenity-rich workspaces, deals like these signal a robust outlook for the premium office segment in India’s financial capital.