Air India, owned by the Tata Group, has signed a lease agreement for seven floors, spanning 1,80,750 square feet of office space, at Gurugram's Vatika One on One building. The five-year lease, with an annual rent of Rs 24.05 crore, commenced on September 29, 2023. Air India paid an interest-free refundable security deposit of Rs 11.34 crore and a rent-free fit-out period is granted until March 2024. The rent would be hiked by 15% after three years. Vatika One on One is a 12-acre office complex located just six kilometres from Indira Gandhi International Airport, offering signal-free connectivity.
Air India, now owned by the Tata Group, has secured a lease for seven floors at Gurugram's Vatika One on One building, spanning 1,80,750 square feet. This five-year lease, starting on September 29, 2023, entails an annual rent of Rs 24.05 crore. Air India paid a Rs 11.34 crore interest-free refundable security deposit. The lease covers the ground floor to the sixth floor of Block 5 at Vatika One on One. A rent-free fit-out period has been granted until March 2024. Furthermore, the agreement specifies a 15% annual rent increase after three years.
Vatika One on One is a prominent 12-acre office complex in Gurugram's Sector 16, strategically located on National Highway 48, just six kilometres from the Indira Gandhi International Airport. This complex boasts six separate towers and offers signal-free connectivity.
The lease agreement was officially registered in September and includes provisions for 180 parking spots for cars, with an additional 18 spaces in Block 5. Air India is experiencing substantial growth since being privatized. This new office space will cater to the company's expanding needs as it continues to grow.
With this lease agreement, Air India aims to enhance its administrative and operational capabilities and contribute to its growth in the competitive aviation sector, utilizing the strategically located office space provided by Vatika One on One. The rental agreement provides both parties with the benefit of a secure, mutually beneficial partnership.
Advertisement
Facebook
Whatsapp
