Executive Centre India leases 1.14 lakh sq ft office space at Delhi’s Aerocity for 9 years at total rent of ₹309 cr
By Bricksnwall | 2026-07-12
The Executive Centre has signed an office
lease at Worldmark 6 in Delhi’s Aerocity with the total rental outgo estimated
at roughly ₹309 crore.
Flexible workspace operator Executive Centre
India Ltd has leased more than 1.14 lakh sq ft of office space at Worldmark 6
in Delhi’s Aerocity, with the total rental outgo pegged at roughly ₹309 crore
for a nine-year term, according to property registration papers available with
Propstack.
Alborz Developers Ltd has taken up the entire
seventh floor of Worldmark 6, Aerocity. The premises rented has a carpet size
of 80,001 sq ft and a chargeable area of 1,14,954 sq ft as per the registered
agreement.
Lease started on 26 March 2026 with a monthly
rent of around Rs 2.47 crore which translates to a lease rental of Rs 215 per
sq ft a month. The arrangement has been signed for a period of nine years.
The documents show that the Executive Centre
has paid a security deposit of Rs 14.83 crore to the landlord. The lease
agreement also provides for a 15% escalation in rentals every three years, a
provision that is customary in long-term commercial leasing contracts.
Based on negotiated rates and escalation schedule,
the total rental commitment during the lease period is expected to be roughly
₹309 crore.
The space along with 115 automobile parking
places was taken on lease for a monthly rent of Rs. 6,000/- each car.
Additional automobile parking would be offered at Rs. 7,000/- per month. The
documents further say that the corporation will be provided with three to four
parking slots for two wheelers for every parking slot for a car, based on
availability.
Executive Centre India Ltd and Alborz
Developers Ltd have been emailed for a response. If there’s a reaction, the
story will be updated.
Latest trade
Hero MotoCorp Ltd and co-working space
provider WeWork India Management Ltd have leased almost 3.5 lakh sq ft office
space each at Worldmark 6 in Delhi’s Aerocity, from Alborz Developers Ltd, a
Bharti Group entity, on a combined rental commitment of over ₹920 crore over
the respective lease tenures. Hindustan Times Real Estate reported in June
2026.
Hero MotoCorp’s lease will be for a period of
nine years and WeWork India’s lease will be for 10 years, starting from March
1, 2026. Propstack accessed property registration papers, which show that the
total rental expenditure over the lease terms is anticipated to be ₹922.3
crore.
WeWork India on Tuesday announced the debut
of its new location at Aerocity, New Delhi, spread over 1.1 lakh sq ft at
Worldmark 6 in May 2026. Spread over the third level, the facility has more
than 1,400 desks and is the 17th centre of the company in the Delhi-NCR region.
“Aerocity, with its proximity to Indira
Gandhi International Airport and connectivity to key transit networks, has
become a preferred business destination for multinational corporations and
globally integrated businesses,” the company stated.
Source: Hindustan Times
