Sanofi Signs Lease for 2.7 Lakh Sq Ft Office Space in Hyderabad at ₹2 Crore Rent
Sanofi Healthcare has leased 2.7 lakh sq ft of prime office space in Hyderabad’s Hitech City at a monthly rent of ₹2.05 crore for a duration of five years. The lease, signed with RMZ Constructions (India) Private Limited, is for floors 11 through 17 in RMZ Spire, a prominent commercial building in the area. According to registration documents accessed by Propstack, the lease deed was signed on December 10, 2024, and the transaction was registered in January 2025. The lease period commenced on January 1, 2024, and the rent will start from July 1, 2025.
The company paid a security deposit of ₹15.3 crore, with a rental rate set at ₹75 per sq ft. The agreement also allows for a 15% rent escalation after three years. In addition to 303 parking spaces included in the deal, Sanofi has the option to purchase additional covered parking spaces for ₹5,000 per unit. The average rent in RMZ Spire reportedly ranges between ₹73 and ₹80 per sq ft, making the terms of this lease consistent with prevailing market rates.
The leasing of such a large space reflects Hyderabad's rising prominence as a hub for global corporations. The city’s IT corridor, including Hitech City and Gachibowli, continues to attract multinational companies due to its competitive rental rates, high-quality office spaces, and robust infrastructure. Over the years, rental rates in these areas have witnessed steady growth. For example, rents in Hitech City increased from ₹23,000 per month in 2019 to ₹27,500 per month in 2023, while Gachibowli saw a similar rise, with rents jumping from ₹22,000 to ₹26,500 during the same period.
Hyderabad’s office market has seen several major leasing transactions recently, further highlighting its appeal to corporate giants. For instance, Facebook renewed its lease for 3.7 lakh sq ft of office space in Hyderabad in two separate transactions last year, paying ₹2.8 crore in monthly rent. Similarly, Google renewed its lease for 3.7 lakh sq ft of office space in Salarpuria Sattva Knowledge Capital—Block 1 for ₹2 crore per month in August 2024. These deals demonstrate the sustained demand for high-quality office spaces in the city’s key business districts.
The strategic location of Hitech City, coupled with the availability of modern office spaces, has made it a preferred destination for IT and pharmaceutical companies. The area’s connectivity and infrastructure continue to attract long-term investments from global players, driving its real estate market further. Transactions like Sanofi’s underline the growing interest in Hyderabad as a commercial and IT hub, with the city offering competitive advantages over other metros in terms of affordability and accessibility.
Sanofi Healthcare’s decision to lease such a significant office space in Hyderabad signals its commitment to expanding its operations in India. The scale of this lease, along with similar high-value transactions in the city, underscores Hyderabad’s rising stature as a preferred destination for corporate leasing. With consistent demand and a competitive rental market, the city is poised for further growth in the commercial real estate sector.
Image source- medicalbuyer.co.in
