Office space leased by IDFC First Bank in Mumbai
Private sector bank, IDFC First Bank has taken up an office spread over four entire floors of a commercial complex in Mumbai’s western suburb Goregaon. Rentals for nearly 1.65 lakh sq ft office space in commercial tower Oberoi Commerz III, part of the larger layout Oberoi Garden City, is set at Rs 233 per sq ft a month.
The lease agreement includes a clause to escalate these rentals by 15% after 36 months from the license commencement date. Asper update agreement will commence from January 2025 with a lock-in period of three years and the fit-out period of a total five months will start from July 15, 2024.
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