JP Morgan India pre-leases office space in Sumitomo's BKC project

JP Morgan India has pre-leased 1.16 lakh square feet (sq ft) of office space in a commercial project in Mumbai's Bandra Kurla Complex (BKC). The project is being developed by Goisu Realty, a group company of Japan’s Sumitomo Realty & Development.

 

The lease is for a period of 10 years and will commence on October 1, 2026, the proposed handover date of the property.

 

Rental terms and cost structure 

JP Morgan India will pay a monthly rent of ₹6.91 crore, translating to ₹595 per sq ft per month. The rent will increase by 15 per cent every three years, as per the agreement.

 

The leased space spans the 11th and 12th floors of the under-construction building, located at plot no. 65, G block, BKC — one of India’s most expensive commercial real estate markets. 

 

Registration details and upfront costs 

According to lease documents sourced from Propstack, a real estate data analytics firm, JP Morgan India has paid a deposit of ₹62.23 crore. The transaction attracted a stamp duty of nearly ₹13.9 crore and a registration fee of ₹30,000. It was officially registered on May 28, 2025, with the appropriate authorities.

 

Previous large-scale lease deals by JP Morgan 

In August 2022, JP Morgan Services India leased 1.16 million sq ft of office space at Nirlon Knowledge Park in Goregaon, Mumbai. The initial rent for that property was around ₹202 crore per month (Rs 145 per sq ft), with a similar 15 per cent escalation every three years. 

 

More recently, in August 2024, JP Morgan leased 5.59 lakh sq ft of office space in Embassy Tech Village, Bengaluru, at a monthly rent of ₹4.4 crore (Rs 80 per sq ft initially), also with a 15 per cent escalation clause every three years.