07 March 2024 – Renowned cricketer Virat Kohli has recently secured a significant business move by leasing 18,430 square feet of office space in Gurugram’s Reach Comercia corporate tower. The lease, facilitated by Mynd Integrated Solutions, amounts to an annual rental of Rs 1.27 crore, marking a notable development in the commercial real estate landscape.
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Details of the Deal:
- Virat Kohli has leased a total of 12 office spaces with a combined built-up area of 18,430 square feet.
- The office spaces are located in the Reach Comercia corporate tower in sector 68 of Gurugram.
- The monthly rental for this space is approximately Rs 8.85 lakh.
- The deal was executed through Vikas Kohli, the registered General Power of Attorney (GPA) holder for Virat Kohli, who is also his brother.
- The transaction involved a stamp duty payment of Rs 3.83 lakh and registration fees of Rs 50,010.
Terms of the Agreement:
- The initial monthly rent per square foot is Rs 48, with a security deposit of Rs 57.19 lakh.
- The lease spans nine years, commencing on March 28, 2023.
- Rental payments commenced on July 1, 2023.
- The agreement includes a yearly rent escalation of five percent, and common area maintenance charges amounting to Rs 14 per square foot per month.
- The office spaces come with 37 parking slots.
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Conclusion:
Virat Kohli’s strategic move to lease prime office space in Gurugram not only signifies a significant investment but also underscores his interest in the corporate landscape. The deal, facilitated through Mynd Integrated Solutions, showcases the synergy between sports personalities and the business world. This notable acquisition contributes to the evolving dynamics of the commercial real estate market in the Delhi NCR region, making it an area of continued interest for high-profile property transactions.
