Elon Musk’s satellite internet venture, Starlink Satellite Communications Pvt. Ltd., has leased an office space measuring 1,294 sq ft in Mumbai’s Chandivali area for five years, at a total rent of ₹2.33 crore, according to property registration documents accessed by Propstack.
The property, owned by Nikunj Sheth, was registered on October 14, 2025. Documents show that Starlink will pay a monthly rent of ₹3.52 lakh, with a 5% annual escalation, and has deposited ₹31.7 lakh as a security deposit. The company also paid a stamp duty of ₹66,500 and a registration fee of ₹1,000 at the time of registration. In addition, Starlink will bear the common area maintenance (CAM) charges of ₹15.79 lakh for a period of five years, and the lease includes one car parking space.
According to Knight Frank India’s Q3 2025 report, Mumbai’s commercial real estate market continues to demonstrate resilience and depth, with average office rents rising 11% year-on-year, the thirteenth consecutive quarter of stable or positive growth. While leasing activity declined 27% year-on-year to 1.9 million sq. ft., Mumbai, along with Bengaluru and NCR, still accounted for half of India’s total office transactions, underscoring its enduring dominance as a key business hub.
The report also highlights that new office completions surged 94% year-on-year to 1.6 million sq. ft. during the July–September quarter, helping narrow the supply gap seen since 2023. This uptick in development, coupled with rising rentals and infrastructure upgrades like the Mumbai Metro Line 3, reflects strong investor confidence and long-term optimism. As per Knight Frank India, Mumbai’s office segment continues to set the benchmark for stability, quality, and performance in the country’s commercial real estate landscape.
The Boomerang building has been a popular choice for celebrity and corporate buyers alike. Earlier this year, Hrithik Roshan and his father Rakesh Roshan, through their company HRX Digitech LLP, purchased three office units on the first floor of the same complex for ₹31 crore. The deal, registered on July 9, 2025, covered a total carpet area of 13,546 sq ft. The Roshan family had also acquired five additional office units on the fifth floor in September 2024 for ₹37.75 crore, spanning a total carpet area of 17,389 sq ft, according to property records.
Starlink’s lease comes at a time when the company is accelerating its plans to launch satellite-based internet services in India. The firm is preparing to set up nine gateway earth stations across major cities including Mumbai, Noida, Chandigarh, Hyderabad, Kolkata, and Lucknow as part of its national rollout strategy. The company has applied for 600 Gbps satellite capacity over India through its Gen 1 constellation, with spectrum provisionally assigned for security compliance demonstrations.
The development also follows a series of real estate moves by Elon Musk’s ventures in India. In September, Tesla leased 24,565 sq ft of warehouse space in Mumbai’s Kurla area for over ₹24 crore for five years.
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