Crisil leases office space in Mumbai, to pay ₹597 crore over 15 years

Crisil has leased floors 10 to 15 in the property and will pay a monthly rent of ₹2.35 crore, translating to Rs 94 per square foot per month

Global analytics firm Crisil has leased 2.5 lakh square feet of office space in Lightbridge, Saki Vihar, Mumbai, and will pay a total rent of Rs 597.3 crore over a 15-year lease term, according to lease documents accessed by real estate data analytics firm Propstack.

 

Crisil has leased floors 10 to 15 in the property and will pay a monthly rent of Rs 2.35 crore, translating to Rs 94 per square foot per month. The rent will escalate by 4.77 per cent annually. The company has also paid a security deposit of Rs 38.20 crore to the landlords, Nathan Properties Private Limited and Gamma Construction Private Limited. The lease commenced on August 31, 2025.

 

 

Cowrks takes 1.76 lakh sq ft in Powai

 

Meanwhile, Cowrks, a co-working operator owned by Brookfield, has leased 1.76 lakh square feet of space in Crisil House (One Downtown Central), Powai. The firm has taken the premises for seven months and will pay a monthly rent of Rs 3.88 crore, equivalent to Rs 220 per square foot per month.

 

Cowrks has leased the ground floor and floors three to nine from Kairos Properties Private Limited. The lease began on September 1, 2025, and Cowrks will undertake fit-out work for managed office services during the tenure.

 

Rising rentals in Saki Vihar and Powai

 

Saki Vihar has emerged as a prime commercial real estate micro-market in Mumbai, housing several multinational and domestic corporates. The average rent for commercial office space on Saki Vihar Road is currently estimated at Rs 132 per square foot per month as of October 2025, up slightly from Rs 130 per square foot per month in October 2024, according to data from Magicbricks.

 

Similarly, Powai—another key commercial micro-market in the Mumbai Metropolitan Region (MMR)—has seen a steady rise in office rents. The average rent in the locality increased from Rs 121 per square foot per month in October 2024 to Rs 131 per square foot per month in October 2025, reflecting healthy demand for quality office spaces in the area.