Leases Financial News

Home REIT said it is now expected to generate “significantly higher rent collection” than has previously been received from One CIC.

Tata Trent has leased 1.13 lakh sq ft of warehousing space at Galaxy Hubco, a warehousing project in Talwada, near Vapi, Gujarat by Arete Group, a business conglomerate based in Gujarat. Situated with convenient access to NH-48, the facility ensures seamless connectivity for logistics operations. With ample clear eaves height, businesses can efficiently utilize vertical storage.

Tesla headed by Elon Musk, is on its way to India and has been making significant strides toward establishing a manufacturing facility. Following a meeting between Prime Minister Narendra Modi and the Tesla CEO during Modi's recent visit to the US, the EV maker has gone ahead with its plans for the manufacturing facility by signing a five-year lease for a 5,850 sq ft office space in Pune.

Etherea, a leading flexible workspace provider, has leased 2.2 lakh sq ft of office space across two buildings owned by real estate developer Bhutani, according to two individuals familiar with the matter. «More than 50% of our commercial space is taken by flex space providers, suggesting demand is increasing. Corporate clients are also preferring coworking centres post covid,» said Ashish Bhutani, CEO, Bhutani Group.

Tesla are meeting up with Indian government officials to discuss its foray into the country, the US-based electric vehicle manufacturer has picked up office space in Pune’s Viman Nagar locality. The company’s India arm, Tesla India Motor & Energy, has leased the office spread over 5,850 sq ft in a coworking center on the first floor of one of the towers in Panchshil Business Park. The lease will have a total term of five years starting from October 1 with a lock-in period of three years.

NEW DELHI : Go First must sign fresh lease agreements for 30-35 aircraft since lessors have already terminated the previous ones following its insolvency filing, two people aware of the development said, delaying the low-fare airline’s plans for a quick return to skies. “While the airline is making active efforts to relaunch flight operations, it will need to re-enter into fresh lease agreements or get the termination revoked by the lessors in case it wants to operate these 30-35 aircraft whose lease agreements were terminated around the time the airline filed for insolvency," one of the two people said. Go First filed for insolvency on 2 May and suspended operations with effect from 3 May, leaving a void of 6.8% in the domestic civil aviation market.

Axis Bank, has taken on lease two floors in Macrotech Developers’ commercial tower in Mumbai’s Lower Parel to set up its head office, people aware of the development said. The company’s headquarters — currently in Wadia International Center on Worli’s Budhkar Marg — is expected to be shifted to this place soon, in line with its expansion and consolidation plan. “Axis AMC is likely to consolidate some of its existing Mumbai offices that support a few key functions in this newly leased space,” one of the persons cited earlier said, adding that the company has leased more than 63,000 sq ft of office space in ‘One Lodha Place’ for more than nine years. The company will be paying a monthly rent of Rs 1.2 crore for the office space spread over the 22nd and 23rd floors of the 39-storey tower, the sources said, adding that the space has already been handed over to the new tenant for fit-out work. Queries sent to Axis AMC and Lodha remained unanswered till as of press time. Transaction advisor JLL India declined to comment.

WASHINGTON—The Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration in its early stages dating back to the end of World War II, according to a Wall Street Journal analysis.