WeWork rents at ₹1.7 cr; JP Morgan sub-leases same space at ₹4.4 cr in Hyd

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In one of Hyderabad’s largest workspace transactions this year, WeWork India has leased 1,75,953 sq ft at Skyview 20, a Grade-A commercial tower in Hitech City’s Madhapur district, before sub-leasing the entire premises to JP Morgan Services India Pvt Ltd, as per property documents accessed by CRE Matrix, a data-driven real estate consultancy firm.

 

The twin agreements—first between Mahanga Commercial Properties and WeWork, and subsequently between WeWork and JP Morgan—were registered this month, according to documents shared by CRE Matrix.

 

WeWork’s Lease: ₹1.72 Crore Monthly Rent, 60-Month Term

 

WeWork India Management Ltd has taken the space on a 60-month lease, with a starting monthly rent of ₹1,72,43,394 and a security deposit of ₹10.34 crore.

 

• Area: 1,75,953 sq ft
• Starting rent: ₹98 per sq ft
• Floors: 5th (501) and 6th (601)
• Parking: 176 car parks
• Registration date: 7 November 2025
• Rent escalation: 15% after 36 months
• Lock-in: 40 months 15 days
• Handover: 1 July 2025
• Fit-out / rent-free period: 4 months 15 days

 

The lease indicates aggressive expansion by WeWork in Hyderabad, a market where flexible workspace demand has surged post-pandemic due to hybrid working models adopted by IT/ITeS tenants.

 

JP Morgan Sub-Lease: ₹4.38 Crore Monthly Rent, 1,501 Desks

 

Just days later, on 13 November 2025, WeWork executed a General Service Agreement (sub-lease) with JP Morgan Services India Pvt Ltd, handing over the entire 1.76 lakh sq ft area. 

The deal carries a starting monthly rent of ₹4,38,12,297, supported by a security deposit of ₹25.97 crore.

 

Key terms include:

 

Area: 1,75,953 sq ft (same as master lease)

 

Starting rent: ₹249 per sq ft

 

Floors: 5th (501) and 6th (601)

 

Parking: 176 slots

 

Seats: 1,501 desks

 

Lease term: 60 months

 

Lock-in: 24 months

 

Rent escalation: 5% annually

 

Fit-out charges: ₹3,540 per sq ft

 

Handover: 15 November 2025

 

The significant rent spread between WeWork’s lease (₹98/sq ft) and the sub-lease (₹249/sq ft) reflects the value-add through fit-outs, amenities, workspace design, services, and JP Morgan’s demand for custom-built managed offices.

 

Skyview 20: A Magnet for Global Occupiers

 

Located on Hitech City Main Road, Skyview 20 is developed as part of the larger Skyview campus—one of Hyderabad’s most preferred Grade-A tech parks.

 

The asset has seen strong leasing traction from multinational financial services and technology firms due to proximity to major campuses, metro connectivity, and rising preference for high-density workspace parks.