JP Morgan Services India Pvt Ltd has leased 2.71 lakh square feet of premium office space in Mumbai from Cowrks at a monthly rental of over ₹9 crore, marking one of the largest commercial leasing transactions in the city in recent months. The deal highlights the continued demand for Grade-A office spaces by global financial institutions expanding their India operations.
The office space is located at One Downtown Central (formerly CRISIL House) in Powai, a key commercial hub that has emerged as a preferred destination for multinational companies due to its strong infrastructure, connectivity and proximity to talent pools. The property is owned by Kairos Properties Pvt Ltd, an entity backed by Brookfield Properties.
As per lease documents, the agreement was signed in December 2025, with the lease scheduled to commence from April 1, 2026. The total leased area measures approximately 2,71,955 sq ft, spread across multiple floors of the building.
JP Morgan will pay a monthly rent of around ₹9.23 crore, translating to an average rental value of about ₹339 per sq ft. The lease tenure is five years, with a built-in 5% annual rental escalation, reflecting strong confidence in the long-term growth prospects of Mumbai’s commercial real estate market.
The office will be operated under Cowrks’ managed workspace model, enabling JP Morgan to access fully serviced, ready-to-use office infrastructure while maintaining operational flexibility and reducing upfront capital expenditure.
Industry experts note that large-scale leasing activity by global BFSI firms signals renewed momentum in Mumbai’s office market, particularly in established micro-markets like Powai. The transaction also reinforces the growing preference for flexible and managed office solutions among multinational occupiers.
With steady demand from global corporations and limited supply of quality office stock, Mumbai’s commercial real estate sector is expected to remain resilient, supported by long-term leasing commitments from international players.
Related Posts
- All Posts
- Blogs
- Commercial
