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Amazon has leased 5 lakh square feet of office space in Hyderabad and 3 lakh square feet of office space in Gurgaon for five years. Amazon has leased ground plus ten floors in Hyderabad for 60 months, totaling 4,87,800 square feet of space.
The ground plus fourth floors were leased for Rs 52 per square foot per month, while the fifth to tenth floors were leased for Rs 45 per sq. ft. per month, according to the documents. The lease in Hyderabad begins in July 2022, as the contracts were registered in February 2023.
Amazon Development Centre India Pvt Ltd has leased the basement, fifth, sixth, and seventh floors of DLF Downtown in Gurgaon, according to the documents.
According to the documents, Amazon Seller Services Private Limited has leased the 8th floor, which covers 38,598 square feet, and Amazon Transportation Services Pvt Ltd has leased the 14th floor, which covers 14,044 square feet.
They demonstrated that the space had been leased for five years. The lease rental is approximately Rs 110.5 per square feet per month, according to the documents. The lease began in September 2022, and the agreements were registered in February 2023, according to the documents.
Once they confirm the transaction, the story will be updated. Previously, Amazon Development Centre (India) leased 1.94 lakh square feet of IT Park space in Kharadi, Pune, from KRC Infrastructure and Projects Pvt Ltd for five years at a monthly rent of Rs 1.45 crore.
According to the document, the company had leased four of the building’s 13 floors, including the first, second, third, and fourth floors and 205 parking spaces.
Gera Developments Pvt Ltd is building the IT Park. The total chargeable area is 1.94 lakh square feet, with a five-year lease term. The lease will begin on July 1, 2022, and the rent will begin on February 16, 2023.
According to the lease document, the lease was registered on January 13, 2023. Amazon Data Services had also leased 4,51,037.54 square feet of office space in Thane, Mumbai, for Rs 74.91 crore per year. The lease had a term of 29 years, and the monthly rent comes to Rs 6.24 crore.
The rent will rise by 3% every 12 months for the first 36 months and 3.5% every 12 months for the remaining 144 months, according to a sublease agreement signed on September 24, 2022.
Source- Moneycontrol
