Tata AIA Takes Thane Office Space On Lease At ₹67 Lakh Monthly Rent

Mumbai: Tata AIA Life Insurance Company Limited has leased nearly 98,671 sq ft of office space at Centaurus, Hiranandani Estate on Ghodbunder Road in Thane, for a monthly rent of around Rs 67.1 lakh, according to real estate data analytics firm CRE Matrix.

The transaction comes amid growing office leasing activity across the Thane commercial market, where large-format office developments have been attracting corporate occupiers seeking sizeable office spaces beyond Mumbai's traditional commercial districts.

Thane emerges as office hub

With improved infrastructure projects coming up in Thane, a lot of leading companies and real estate players have entered Thane, undertaking development projects. The game-changing infrastructure projects coming up include the Thane Borivali Twin Tunnel project of MMRDA, which will connect the central suburbs of Mumbai with Western suburbs in just a road travel time of 15 minutes, significantly reducing travel time. Besides, other projects also will change Thane district dynamics.

The transaction, registered on July 31, 2026, involves the 15th floor of Centaurus, with Roma Builders Private Limited as the lessor and Tata AIA Life Insurance Company Limited as the lessee.

Lease details and terms

As per the transaction details, the company will pay a monthly rent of Rs 68 per sq ft, translating into a monthly rental outgo of Rs 67,09,634 for the chargeable area of 98,671.09 sq ft. The lease carries a tenure of nine years and 11 months.

The agreement provides for a security deposit of approximately Rs 6.71 crore, equivalent to around 10 months of the stated monthly rent. The transaction includes provision for 100 car parking spaces.

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The lease commenced on March 1, 2026, while the rent is scheduled to commence from November 1, 2026. The tenant has been provided an eight-month fit-out period, running from March 1 to October 31, 2026, during which the office space can be prepared for occupation.

The agreement also includes an annual 5% escalation in rent. In addition to the monthly lease rental, the tenant will incur common area maintenance (CAM) charges of ₹10 per sq ft per month.

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