Mumbai Real Estate News: JP Morgan Leases 2.72 Lakh Sq Ft Office Space At Powai’s One Downtown Central For Over ₹9.23 Crore A Month

Mumbai, Jan 12: J.P. Morgan Services India Private Limited has taken on lease a large commercial office space at One Downtown Central (Crisil House) in Downtown Powai, according to data analysed by CRE Matrix, a real estate data analytics firm.

Details of the lease

The property, located in Powai, has been licensed by Cowrks India Private Limited. The deal involves a total built-up area of 2,71,955 sq ft spread across the ground floor and floors three to nine of the building. The starting monthly rent is pegged at Rs 9.23 crore, translating to around Rs 339.43 per sq ft.

As per the registration details dated December 29, 2025, the agreement includes a security deposit of Rs 55.38 crore. The lease tenure is for 60 months, with a lock-in period of 30 months. Rent escalation has been set at 5 per cent annually, while the rent commencement date is April 1, 2026.

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Parking and market outlook

The transaction also provides for 312 car parking spaces, highlighting the scale of the office footprint being taken by the company. The deal underlines continued demand for large, premium-grade office spaces in established commercial hubs such as Powai, despite evolving workplace dynamics.

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