Crisil Signs Landmark 15-Year Office Lease in Mumbai; to Pay ₹597.3 Crore Rent

Crisil has taken 2.5 lakh square feet of office space at Lightbridge, Saki Vihar, Mumbai. The lease covers floors 10 to 15 and started on August 31, 2025. The company will pay a total of ₹597.3 crore over 15 years, according to Propstack lease documents.

The monthly rent is ₹2.35 crore, which works out to ₹94 per square foot. The lease includes an annual increase of 4.77%. Crisil has also paid a security deposit of ₹38.20 crore to the landlords, Nathan Properties Private Limited and Gamma Construction Private Limited.

Cowrks Expands in Powai

Cowrks, the co-working operator owned by Brookfield, has leased 1.76 lakh square feet at Crisil House (One Downtown Central) in Powai. The lease is for 7 months, with a monthly rent of ₹3.88 crore, or ₹220 per square foot.

The company has leased the ground floor and floors 3 to 9 from Kairos Properties Private Limited. The lease began on September 1, 2025. Cowrks will carry out fit-out work to provide managed office services during the tenure.

Office Rent Trends

Saki Vihar has become an important office location for domestic and multinational companies. Average office rents there are ₹132 per square foot per month in October 2025, up slightly from ₹130 in October 2024, according to Magicbricks.

Powai has also seen an increase in office rents. The average rent rose from ₹121 per square foot per month in October 2024 to ₹131 per square foot per month in October 2025.

Read More: Government Allows Private Sector Entry for SBI MD Role for the First Time!

Conclusion

Crisil’s long-term lease shows continued demand for office space in Saki Vihar. Short-term leases such as Cowrks in Powai show the interest in flexible office arrangements. Both areas continue to see gradual increases in office rents.

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