Bank Of America’s India Arm Signs ₹236 Crore Office Lease in Mumbai’s Powai

Bank of America’s captive services arm, BA Continuum India, has leased office space measuring over 1.11 lakh sq ft in Powai, Mumbai, as per The Economic Times report. The premises are located in a commercial tower owned by Chalet Hotels and are spread across 2 floors of the building. 

Lease Period and Registration 

Documents accessed through CRE Matrix show the lease tenure is 10 years and nine months. Both lease commencement and rent commencement are scheduled from January 1, 2026. The agreement was registered on December 24, 2025. The lease includes a lock-in period of three years. 

Rent and Maintenance Charges 

The starting monthly rent has been fixed at ₹1.43 crore. This works out to around ₹129 per sq ft based on a chargeable area of 1,11,023 sq ft. In addition to the base rent, the tenant will pay common area maintenance charges of ₹20 per sq ft per month. 

Escalation Terms 

The agreement includes a stepped escalation clause. Under this structure, the rent will increase by 15% over the last paid rent on October 1, 2027. After this revision, the rent will rise by 15% every three years for the remainder of the lease term. 

Total Lease Value 

Based on the escalation structure, the total rental outgo over the full lease tenure is estimated at over ₹236 crore. This amount does not include maintenance charges. The agreement also provides for a security deposit of ₹8.59 crore. The lease includes 112 car parking slots. 

Read More: SEBI Identifies Confidential Data Leak by Bank of America Prior to 2024 Block Deal: Report! 

Conclusion 

The lease comes at a time when commercial office transactions remain active across India’s major cities. Global firms continue to account for a significant share of overall leasing volumes. 

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