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Hinduja Realty Ventures has signed a long-term lease of over five years on three floors of a commercial tower in Mumbai's business district, Bandra-Kurla Complex. The real estate acquisition will be used by a number of companies within Hinduja Group, which is seeking to aggregate its Indian property portfolio under the group's flag and unlock value through integrated developments to maximise returns. The lease comprises 50,000 sq ft on the first, second and third floor of the tower, plus 27 car parking spaces and a monthly rental of Rs 115m ($1.6m).

Hinduja: The company will be paying lease rentals of Rs 250 per sq ft a month for nearly 50,000 sq ft office space on first, second and third floor of the tower. The company will be paying monthly rentals of Rs 1.15 crore.

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Valued at about $17 million over the tenure of the lease, it is spread across two floors of the 7,00,000 sq ft building; the company has the option to take on an additional 56,000 sq ft.

Amazon has taken four floors on lease along with 205 carparks, across roughly 1.94 lakh sq ft, in a building in the project Gera Commerzone, an IT special economic zone