Key Points
MUMBAI: ICICI Securities, the financial services company of ICICI Bank, has picked up over 188,000 sq ft office space in information technology park Mindspace Juinagar in Navi Mumbai through a long-term lease of over 12 years...
The ICICI Bank subsidiary has leased the office space spread across five floors in one of the towers of the IT park from Newfound Properties & Leasing, a subsidiary of real estate developer K Raheja Corp...
The financial services company will be paying monthly rentals of Rs 92.15 lakh for the office space..
The company has paid an upfront deposit, equivalent to 12 months' rent, of over Rs 11 crore for the transaction that also provides ICICI Securities exclusive access to 190 car parking slots in the commercial tower...
As part of the agreement, the licensor Newfound Properties & Leasing is not allowed to terminate the lease for the entire term, while the licensee ICICI Securities will have a lock-in period of initial five years...
