Air India leases 6.3 lakh square feet space in Gurgaon

MUMBAI : Air India has taken on lease 6.3 lakh square feet of space in Gurgaon at a starting monthly rent of ₹5.3 crore. The lease is for 21 years.

Documents made available by the data analytics firm CRE Matrix show that the airline operator has taken space in several blocks of E-Novation in Gurgaon. The rent escalates by four per cent annually and there is a lock-in period of 10 years. The total annual outgo, at the start of the lease, is ₹63.6 crore.

Earlier this year, Tata Group-owned Air India inaugurated its new headquarters in Gurgaon at Vatika One on One.

The Air India building in Nariman Point, Mumbai, which served as the airline’s headquarters for many years, was recently acquired by the Maharashtra government for ₹1,601 crore.