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₹1.43-crore monthly Rent: BA Continuum's big Powai office lease for 10 yrs

As per the documents, the starting monthly rent is ₹1,43,21,967, translating to ₹129 per sq ft per month for a total leasable area of 111,023 sq ft.

The much-anticipated provision of the deal value threshold (DVT) under the Competition Amendment Act 2023, notified on Monday, seeks to capture mergers and acquisitions (M&As) where the deal value exceeds Rs 2,000 crore or where the target company ha

The lease tenure is for 10 years and 9 months, with a lock-in period of three years for both parties. Representative Picture

Sunainaa Chadha NEW DELHI

2 min read Last Updated : Jan 13 2026 | 3:00 PM IST

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BA Continuum India, a subsidiary of Bank of America that provides technology and operations services has leased more than 1.11 lakh sq ft of office space at Cignus, Powai from Chalet Hotels Limited for a monthly rent of Rs 1.4 crore, according to registration documents accessed by CRE Matrix, a data-driven real estate firm

The transaction involves Units 2201 and 2301 located on the 22nd and 23rd floors of the Cignus building at Plot 71A, Passpoli, Powai. The lease agreement was registered on December 24, 2025, with both lease and rent commencement scheduled from January 1, 2026.

As per the documents, the starting monthly rent is ₹1,43,21,967, translating to ₹129 per sq ft per month for a total leasable area of 111,023 sq ft. The lessee has also paid a security deposit of ₹8,59,31,802.

The agreement includes 112 car parking spaces, underscoring the scale of the office setup. In addition to base rent, the tenant will pay common area maintenance (CAM) charges of ₹20 per sq ft per month, as outlined in the lease terms.

The lease tenure is for 10 years and 9 months, with a lock-in period of three years for both parties.

Powai has emerged as one of Mumbai’s key office micro-markets, driven by strong connectivity, proximity to residential catchments, and the presence of large IT, BFSI and global capability centre (GCC) occupiers. Transactions of this size reinforce sustained demand for Grade A office assets in the suburb.