JLL leases 1.2 lakh sq ft at Prestige Skytech, Hyderabad for ₹64 lakh/month

Real estate consultancy Jones Lang LaSalle Property Consultants India (JLL) has leased nearly 1.21 lakh square feet of office space at Prestige Skytech, Building Sky One, located in Poppalguda, Gandipet mandal of Rangareddy district, at a starting monthly rent of ₹64.13 lakh, according to property registration data accessed from CRE Matrix, a real estate data analytics firm.

 

The property has been leased from Mrs. Prahathi Madhu, with the transaction registered on November 28, 2025. The security deposit stands at ₹3.85 crore, the data showed.

 

The leased area measures 1,20,993 sq ft, with the starting rent pegged at ₹53 per sq ft per month. The deal also includes 134 car parking spaces, indicating a large-format commercial leasing transaction.

 

The lease tenure is 60 months, with a lock-in period of 36 months. While the handover of the space was scheduled for September 15, 2025, the rent will commence from April 15, 2026, allowing for a seven-month fit-out or rent-free period. The agreement includes a 15% rental escalation after three years from the rent commencement date.

 

In addition to the base rent, JLL will pay common area maintenance (CAM) charges of ₹13 per sq ft per month.

 

The transaction highlights the sustained demand for Grade A office spaces in Hyderabad’s western corridor, particularly across emerging micro-markets such as Poppalguda and Gandipet, which are gaining traction due to expanding infrastructure, proximity to the Financial District, and improving social and commercial ecosystem.

 

Large-scale office leases by global real estate consultancies indicate that occupiers are continuing to commit to long-term assets even as hybrid work models evolve.