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The Executive Centre India has leased more than 2 lakh sq ft of office space at Avance Business Hub in Hyderabad's HITEC City from Phoenix Infocity Private Limited. The five-year lease involves a monthly rent of about INR 2.24 crore at a starting rate of INR 110 per sq ft, with annual escalations. The deal includes a six-month rent-free fit-out period, a security deposit and 204 parking spaces. The transaction reflects sustained demand for premium managed office space in Hyderabad's leading IT corridor.
The Executive Centre India has taken on lease over 2 lakh sq ft of office space at Avance Business Hub in HITEC City, Hyderabad, from Phoenix Infocity Private Limited. The space is spread across the third and fourth floors of the commercial building located in one of the city's main technology and business districts. Advertisement
The lease agreement is for a period of five years. The starting rental is approximately INR 110 per sq ft per month, translating to a monthly outgo of around INR 2.24 crore. The agreement also provides for annual rental escalations as part of the contract terms. In addition, the company has secured a six-month rent-free period to carry out interior fit-outs and prepare the premises before full-scale operations begin.
As part of the transaction, a security deposit has been paid to the landlord. The deal also includes 204 dedicated car parking spaces within the premises, which is significant given the demand for parking in the HITEC City micro-market. The lease permits subleasing with prior intimation, allowing operational flexibility depending on occupancy requirements.
Avance Business Hub is part of the larger IT and commercial ecosystem developed in HITEC City, which houses several multinational technology firms, global capability centres and domestic enterprises. Over the past few years, Hyderabad has remained one of the most active office markets in India, supported by steady demand from technology, consulting and financial services companies.
Flexible workspace operators such as The Executive Centre have been expanding in key urban markets to cater to enterprise clients seeking managed offices and premium serviced workspaces. The latest transaction adds to the growing list of large-format leasing deals being recorded in Hyderabad's western corridor, underlining occupier confidence in Grade A commercial assets in the city.
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