Tata Digital Leases Over 58,000 Sq Ft Office Space in Mumbai’s Lower Parel for ₹12 Crore Annual Rent

Tata Digital has leased approximately 58,668 square feet of commercial office space at One International Centre (OIC) in Mumbai’s Lower Parel business district. The lease agreement is valid for a period of five years according to property registration documents accessed through CRE Matrix. The transaction includes a total annual rent exceeding ₹12 crore, with the lease agreement featuring a 5% escalation clause on a yearly basis.

The office premises are spread across five separate units located on the 15th, 16th, and 17th floors of the commercial tower. In addition to the leased office space, the agreement also includes 49 designated parking spaces. According to the registration documents, any additional parking beyond the allocated number would incur a monthly charge of ₹10,000 per parking unit.

The lease officially commenced on February 1, 2025. However, the rent chargeable period is set to begin from July 16, 2025. The initial monthly rent under the agreement is ₹1.05 crore. The total security deposit for the transaction amounts to more than ₹7 crore.

One International Centre is a Grade-A commercial complex located in central Mumbai, housing offices of several multinational companies across sectors such as finance, technology, and professional services. The development’s connectivity to major transport networks and proximity to residential hubs makes it a preferred location for large corporate occupiers.

Tata Digital was established by the Tata Group to consolidate and manage its digital consumer services. The company holds a majority stake in several digital-first ventures, including BigBasket, an online grocery platform, and 1mg, a digital healthcare and pharmaceutical delivery service. It plays a central role in the group’s broader digital and e-commerce strategy.

According to a report by Moneycontrol, Tata Digital has also notified its employees of an upcoming headquarters relocation. The company will be moving from its current premises in Fort House, South Mumbai, to the newly leased space in One International Centre. The relocation is expected to be completed by the end of July 2025. The existing Fort House office, which spans more than 1.02 lakh square feet across ground plus six floors, was leased by Tata Digital in an earlier agreement renewed in June 2024. The monthly rent for the Fort property was reported to be approximately ₹2.98 crore, with a security deposit of ₹15.03 crore.

The shift from South Mumbai to Central Mumbai aligns with a larger trend of businesses seeking better accessibility, modern office layouts, and integration with mixed-use developments. Lower Parel, with its growing inventory of commercial spaces and improved transport infrastructure, has emerged as a strong alternative for companies looking to consolidate or expand their footprint in Mumbai.

Tata Digital’s move marks one of the more prominent corporate relocations in Mumbai’s commercial real estate market this year. It reflects continued demand for large floor plate commercial spaces from tech-led and digital-first companies. Market observers believe that transactions of this scale provide an indication of sustained leasing activity in key business districts, even as companies remain selective in space acquisition due to evolving hybrid work models.