1.2 Lakh sq ft office space leased by Asian Paints
Leading paint and allied products manufacturer Asian Paints has leased more than 120,000 square feet of office space in the Lower Parel business district of Mumbai. The firm has leased the space for a total tenure of 9 years including a lock-in period of 5 years. Asian paints is expected to pay more than Rs 166.32 crore as rentals over the total tenure of the lease excluding any rental escalations and maintenance charges.
This new commercial office space is expected to be utilized as the center for its new business vertical of home furnishing, said persons with direct knowledge of the development.
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