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Overview

What's Typical

TERM

5+5 years of 3+3+3 years for non-SEZ space; 5 years for SEZ space as per the SEZ tax guidelines

BREAKS

After lock-in period with 3–6 months’ notice, similar for renewals

RENEWALS

Multiple options; e.g.:3+3+3 or 5+5+5

RENT BASIS

Net on rentable area

FREE RENT

Negotiable (30 to 90 days)

ESCALATION

15–20% every 3 years, or fair market or 5 – 6 % every year

SECURITY

6-12 month’s gross rent for any tenant

TENANT'S BROKER

Landlord pays in most cases for new lease and tenant pay in few cases

FIT-OUT

Various: bare shell, warm shell to fully furnished

RIGHT TO SUBLET

Sublet/assignment to third party is rare, if provided requires landlord written consent. Subletting to subsidiaries generally is achievable

TRANSPARENCY

High for tier I cities

Offices

Ahmedabad +91 79 4070 4019

Bangalore +91 80 40740000

Chennai +91 44 6680 7000

Gurgaon +91 12 4465 9700

Hyderabad +91 40 4033 5000

Kochi +91 48 4414 8280

Kolkata +91 33 4019 0200

Mumbai +91 22 4069 0100

New Delhi +91 11 4239 0200

Pune +91 20 40190100