{"id":7999,"date":"2025-10-10T07:13:56","date_gmt":"2025-10-10T07:13:56","guid":{"rendered":"https:\/\/housiey.com\/blogs\/?p=7999"},"modified":"2025-10-10T07:21:10","modified_gmt":"2025-10-10T07:21:10","slug":"crisil-signs-%e2%82%b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025","status":"publish","type":"post","link":"https:\/\/housiey.com\/blogs\/crisil-signs-%e2%82%b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025","title":{"rendered":"CRISIL Signs \u20b9600 Crore Lease for 2.5 Lakh Sq Ft in Hiranandani Lightbridge, Powai \u2014 One of Mumbai\u2019s Biggest Office Deals of 2025"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">In one of Mumbai\u2019s most significant corporate real estate transactions of the year, <\/span><b>CRISIL Limited<\/b><span style=\"font-weight: 400;\"> has finalized a long-term lease for approximately <\/span><b>2.5 lakh sq ft<\/b><span style=\"font-weight: 400;\"> of premium office space at <\/span><b>Hiranandani Lightbridge<\/b><span style=\"font-weight: 400;\">, Saki Vihar, Powai. The deal, valued at <\/span><b>\u20b9597 crore<\/b><span style=\"font-weight: 400;\">, underscores the growing demand for world-class commercial infrastructure in the city\u2019s eastern business district.<\/span><\/p>\n<blockquote><p><strong>Also Read: <em><a href=\"https:\/\/housiey.com\/blogs\/blogs\/hiranandani-group-reviews-controversies-facts-history\">Hiranandani Group Reviews \u2013 Controversies, Facts, History<\/a><\/em><\/strong><\/p><\/blockquote>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/housiey.com\/blogs\/crisil-signs-%e2%82%b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025\/#What_Does_the_CRISIL_Lease_Deal_Include\" >What Does the CRISIL Lease Deal Include?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/housiey.com\/blogs\/crisil-signs-%e2%82%b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025\/#How_Much_Will_CRISIL_Pay\" >How Much Will CRISIL Pay?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/housiey.com\/blogs\/crisil-signs-%e2%82%b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025\/#Why_Did_CRISIL_Choose_Powai\" >Why Did CRISIL Choose Powai?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/housiey.com\/blogs\/crisil-signs-%e2%82%b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025\/#Hiranandani_Group_Confirms_the_Deal\" >Hiranandani Group Confirms the Deal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/housiey.com\/blogs\/crisil-signs-%e2%82%b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025\/#Whats_Happening_to_CRISILs_Old_Office\" >What\u2019s Happening to CRISIL\u2019s Old Office?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/housiey.com\/blogs\/crisil-signs-%e2%82%b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025\/#What_This_Means_for_Mumbais_Commercial_Real_Estate_Market\" >What This Means for Mumbai\u2019s Commercial Real Estate Market<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Does_the_CRISIL_Lease_Deal_Include\"><\/span><strong>What Does the CRISIL Lease Deal Include?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As per documents accessed from the property registration department, the <\/span><b>15-year lease<\/b><span style=\"font-weight: 400;\"> agreement was signed with <\/span><b>Nathan Properties Pvt. Ltd.<\/b><span style=\"font-weight: 400;\"> and <\/span><b>Gamma Construction Pvt. Ltd.<\/b><span style=\"font-weight: 400;\">, both entities belonging to the <\/span><b>Hiranandani Group<\/b><span style=\"font-weight: 400;\"> and <\/span><b>House of Hiranandani<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The lease is scheduled to commence on <\/span><b>August 31, 2025<\/b><span style=\"font-weight: 400;\">, and will see CRISIL occupying the <\/span><b>10th to 15th floors<\/b><span style=\"font-weight: 400;\"> of the Lightbridge building. This newly leased property will become the company\u2019s <\/span><b>future corporate headquarters<\/b><span style=\"font-weight: 400;\">, currently known as <\/span><b>CRISIL House<\/b><span style=\"font-weight: 400;\"> in Powai.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Much_Will_CRISIL_Pay\"><\/span><strong>How Much Will CRISIL Pay?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Under the agreement, CRISIL will pay a <\/span><b>monthly rent of \u20b92.35 crore<\/b><span style=\"font-weight: 400;\">, equivalent to <\/span><b>\u20b994 per sq ft per month<\/b><span style=\"font-weight: 400;\">. Over the full tenure, the total payout amounts to approximately <\/span><b>\u20b9597.3 crore<\/b><span style=\"font-weight: 400;\">, excluding maintenance and taxes.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Annual rent escalation:<\/b><span style=\"font-weight: 400;\"> 4.77%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Security deposit:<\/b><span style=\"font-weight: 400;\"> \u20b938.2 crore<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Registration date:<\/b><span style=\"font-weight: 400;\"> October 6, 2025<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Parking allocation:<\/b><span style=\"font-weight: 400;\"> 250 car slots and 75 two-wheeler slots<\/span><\/li>\n<\/ul>\n<blockquote><p><strong>Also Read: <a href=\"https:\/\/housiey.com\/blogs\/blogs\/top-10-most-expensive-areas-in-mumbai-in-2025-houseiy\"><em>Top 10 Most Expensive Areas in Mumbai in 2025 \u2013 Houseiy<\/em><\/a><\/strong><\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Why_Did_CRISIL_Choose_Powai\"><\/span><strong>Why Did CRISIL Choose Powai?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Powai, particularly the <\/span><b>Saki Vihar corridor<\/b><span style=\"font-weight: 400;\">, has rapidly evolved into a key business hub, thanks to its strategic location and connectivity. The area benefits from proximity to the <\/span><b>Western and Eastern Express Highways<\/b><span style=\"font-weight: 400;\">, <\/span><b>Jogeshwari-Vikhroli Link Road (JVLR)<\/b><span style=\"font-weight: 400;\">, and the <\/span><b>upcoming Metro Line 6<\/b><span style=\"font-weight: 400;\">, all of which enhance accessibility across Mumbai.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This connectivity, coupled with Powai\u2019s modern infrastructure and availability of large floor plates, has made it an attractive destination for <\/span><b>financial institutions, IT companies, and consulting firms<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Hiranandani_Group_Confirms_the_Deal\"><\/span><strong>Hiranandani Group Confirms the Deal<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><b>Hiranandani Group<\/b><span style=\"font-weight: 400;\"> has officially confirmed the lease, emphasizing its importance as a milestone in Mumbai\u2019s commercial real estate growth.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe are pleased to announce the successful conclusion of a long-term lease with CRISIL for our newly developed commercial tower at Saki Vihar, Powai. This reinforces the enduring trust in the Hiranandani brand and highlights the growing appetite for well-designed, high-quality workspaces,\u201d<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">said <\/span><b>Niranjan Hiranandani<\/b><span style=\"font-weight: 400;\">, Chairman, Hiranandani Group.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He added that this transaction signals the <\/span><b>positive momentum<\/b><span style=\"font-weight: 400;\"> in the Powai commercial property market, backed by infrastructure upgrades and last-mile connectivity.<\/span><\/p>\n<blockquote><p><strong>Also Read: <a href=\"https:\/\/housiey.com\/blogs\/blogs\/dharma-productions-leases-new-office-in-mumbais-andheri-west-for-%e2%82%b915-lakh-monthly\"><em>Dharma Productions Leases New Office in Mumbai\u2019s Andheri West for \u20b915 Lakh Monthly<\/em><\/a><\/strong><\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Whats_Happening_to_CRISILs_Old_Office\"><\/span><strong>What\u2019s Happening to CRISIL\u2019s Old Office?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In a related update, <\/span><b>CoWrks India Pvt. Ltd.<\/b><span style=\"font-weight: 400;\">, a leading flexible workspace operator, has taken over CRISIL\u2019s former premises \u2014 <\/span><b>One Downtown Central<\/b><span style=\"font-weight: 400;\">, previously known as <\/span><b>CRISIL House<\/b><span style=\"font-weight: 400;\"> in Powai.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to data from <\/span><b>Propstack<\/b><span style=\"font-weight: 400;\">, CoWrks has signed a <\/span><b>short-term lease for 1.76 lakh sq ft<\/b><span style=\"font-weight: 400;\"> with <\/span><b>Kairos Properties Pvt. Ltd.<\/b><span style=\"font-weight: 400;\">, the property owner. The lease will begin on <\/span><b>September 1, 2025<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The leased area spans <\/span><b>floors G and 3 to 9<\/b><span style=\"font-weight: 400;\"> of the Grade-A commercial building and is priced at <\/span><b>\u20b9220 per sq ft per month<\/b><span style=\"font-weight: 400;\">, amounting to a <\/span><b>monthly rent of \u20b93.88 crore<\/b><span style=\"font-weight: 400;\">. A <\/span><b>security deposit of \u20b923.33 crore<\/b><span style=\"font-weight: 400;\"> has also been paid.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><b>seven-month lease term<\/b><span style=\"font-weight: 400;\"> is meant solely for <\/span><b>fit-out work<\/b><span style=\"font-weight: 400;\">, during which CoWrks will transform the space into fully serviced, managed offices tailored for large enterprise clients \u2014 offering flexible layouts, modern interiors, and ready-to-move-in solutions.<\/span><\/p>\n<blockquote><p><strong>Also Read: <a href=\"https:\/\/housiey.com\/blogs\/blogs\/things-to-check-before-buying-a-flat-in-mumbai-2024\"><em>Things to Check Before Buying a Flat in Mumbai 2025<\/em><\/a><\/strong><\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"What_This_Means_for_Mumbais_Commercial_Real_Estate_Market\"><\/span><strong>What This Means for Mumbai\u2019s Commercial Real Estate Market<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This double development \u2014 CRISIL\u2019s new headquarters at Lightbridge and CoWrks\u2019 expansion at its former office \u2014 highlights the <\/span><b>resilience and dynamism of Mumbai\u2019s office leasing market<\/b><span style=\"font-weight: 400;\">. Powai, in particular, continues to emerge as a <\/span><b>prime micro-market<\/b><span style=\"font-weight: 400;\">, balancing accessibility, sustainability, and premium-grade infrastructure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With financial services, tech firms, and flexible workspace providers competing for high-quality office spaces, <\/span><b>Powai is poised to maintain strong occupancy levels and rental growth<\/b><span style=\"font-weight: 400;\"> in the coming years.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In one of Mumbai\u2019s most significant corporate real estate transactions of the year, CRISIL Limited has finalized a long-term&hellip;<\/p>\n","protected":false},"author":5,"featured_media":8001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[70],"tags":[3493,3491,3490,3492],"class_list":["post-7999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-crisil-600-crore-lease-deal","tag-crisil-hiranandani-lightbridge-powai","tag-crisil-office-lease-powai","tag-mumbai-office-deals-2025"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CRISIL Signs \u20b9600 Crore Lease for 2.5 Lakh Sq Ft in Hiranandani Lightbridge, Powai \u2014 One of Mumbai\u2019s Biggest Office Deals of 2025<\/title>\n<meta name=\"description\" content=\"CRISIL signs a \u20b9600 crore lease for 2.5 lakh sq ft in Hiranandani Lightbridge, Powai, marking one of Mumbai\u2019s biggest office space deals of 2025.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housiey.com\/blogs\/crisil-signs-\u20b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CRISIL Signs \u20b9600 Crore Lease for 2.5 Lakh Sq Ft in Hiranandani Lightbridge, Powai \u2014 One of Mumbai\u2019s Biggest Office Deals of 2025\" \/>\n<meta property=\"og:description\" content=\"CRISIL signs a \u20b9600 crore lease for 2.5 lakh sq ft in Hiranandani Lightbridge, Powai, marking one of Mumbai\u2019s biggest office space deals of 2025.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/housiey.com\/blogs\/crisil-signs-\u20b9600-crore-lease-for-2-5-lakh-sq-ft-in-hiranandani-lightbridge-powai-one-of-mumbais-biggest-office-deals-of-2025\" \/>\n<meta property=\"og:site_name\" content=\"Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/share\/16e5bbCuix\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-10T07:13:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-10T07:21:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/housiey.com\/blogs\/wp-content\/uploads\/2025\/10\/CRISIL-Signs-\u20b9600-Crore-Lease.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"512\" \/>\n\t<meta property=\"og:image:height\" content=\"342\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"L. 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