For a monthly rent of ₹1.89 crore, Air India is to lease 1,80,750 square feet of office space in Block 5 of Vatika One on One, spanning from the ground floor to the sixth floor.
At an annual rent of Rs 24.05 crore, the Tata Group-owned Air India has leased seven floors totalling 1.80 lakh square feet at Vatika One on One in Gurugram for a period of five years.
In September, Vatika One on One Pvt Ltd and Air India Ltd registered a lease agreement. For a monthly rent of Rs 1.89 crore, Air India is to lease 1,80,750 square feet of office space in Block 5 of Vatika One on One, spanning from the ground floor to the sixth floor, according to registration records seen by Propstack.com.
Vatika One on One is a 12-acre office complex in Sector 16 of Gurugram, situated on National Highway 48. It is six kilometres away from the Indira Gandhi International Airport and has six separate towers facing a piazza. It provides signal-free connectivity.
According to the records, the airline, which is growing quickly since being privatised, paid an interest-free refundable security deposit of Rs 11.34 crore as part of the agreement, which gives the lessor 180 parking spots for cars and an extra 18 places in Block 5.
The lease began on September 29, 2023, and the rent will be due six months after the commencement date. A rent-free fit-out time has been granted to the lessor until the start of the rent period in March 2024. A condition in the agreement states that after three years, the annual rent will increase by 15 percent.
Source : Money Control