Kwality Wall's inks 5-yr, ₹89.5-lakh monthly workspace deal in Goregaon

As per the registered agreement dated November 27, 2025, the company will pay a starting monthly rent of ₹89.5 lakh, supported by a security deposit of ₹2.6 cr

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Kwality Wall’s (India) has entered into a major commercial real estate transaction by taking a dedicated, fully fitted office space on the 13th floor of Oberoi Commerz II, located in Oberoi Garden City, Goregaon East, Mumbai. The agreement has been executed with Tablespace Technologies Limited, the sub-licensor and workspace operator, according to the registered documents filed on November 27, 2025, shows data analysed by CRE Matrix.

 

The ice-cream major will pay a starting monthly rent of ₹89,50,000, backed by a security deposit of ₹2.685 crore, as per the service and occupancy agreement. The arrangement includes a 5% annual escalation clause, reflecting market rents in Mumbai’s Grade-A commercial micro-markets.

 

The registration documents confirm a 60-month tenure, with an equivalent 60-month lock-in, making this one of the more uncommon long-lock-in deals in Mumbai’s commercial leasing landscape.

 

Space Tailored for Large Teams

 

Kwality Wall’s will occupy a dedicated office with 180 workstations, in addition to a comprehensive meeting-room suite designed for senior management and functional teams. The breakdown includes:

 

4 Director Cabins

 

1 Dedicated 10-seater meeting room

 

2 Boardrooms (8-seater each)

 

2 Meeting Rooms (6-seater)

 

4 Meeting Rooms (4-seater)

 

6 Single-Person Phone Booths

 

Tablespace will hand over the premises on December 1, 2025, fully furnished and operational, as detailed in the annexures of the registered agreement.

 

Clear Terms and Obligations

 

The agreement outlines exhaustive conditions typical of high-value commercial occupancy contracts:

 

Operator (Tablespace) will ensure availability of all listed amenities and facility services.

 

Occupier (Kwality Wall’s) must use the premises strictly for business operations.

 

Compliance with all government regulations and GST norms is clearly stipulated.

 

Termination is not permitted during the 60-month lock-in.

 

The detailed service agreement, stamped and registered with the Joint Sub-Registrar, Mumbai, on November 27, 2025, spans operational, financial, compliance, and governance obligations for both parties, including clauses on maintenance, capex recovery, and indemnity provisions