BA Continuum India Private Limited, a subsidiary of Bank of America, has leased an office space of 1.11 lakh sq ft in Powai, Mumbai. As per the property documents, the monthly rent of the leased office space is around ₹1.43 crore.

The company has executed a registered lease agreement with Chalet Hotels Limited for the office space located in the Cignus building in the Passpoli area of Powai, further stated in the documents.

• The office space spans the 22nd and 23rd floors of the commercial building, with the rent amounting to ₹129 per sq ft per month and additional common area maintenance (CAM) charges of ₹20 per sq ft monthly.
• The transaction also includes 112 car parking spaces.
• The commencement date for the lease and rent was January 1, 2026, with the total lease tenure being 10 years and 9 months, and a lock-in period of three years.
• As per the agreement, the rent will increase by 15 percent on October 1, 2027 and will increase by 15 percent every three years after that, calculated on the last paid rent.
• The lease was registered on December 24, 2025, and the company has paid a security deposit of ₹8.59 crore.

1. JP Morgan Services India Private Limited has leased a commercial office space of around 2.71 lakh sq ft in Mumbai's Powai area for a period of five years with a total rental value of ₹612 crore, according to the property documents. Situated in One Downtown Central, it spans across the third floor to the ninth floors of the building. The space leased has a lock-in period of 30 months, with the starting monthly rent of more than ₹9.23 crore and a total security deposit exceeding ₹55 crore.

2. In October 2025, CRISIL Limited, a Credit rating agency, leased an office space of approximately 2.5 lakh sq ft, valued at ₹597 crore for a period of 15 years. Considered as one of 2025's biggest commercial real estate transactions in Mumbai, it is located in Powai's Saki Vihar area in Hiranandani Lightbridge. The company paid a monthly rent of ₹2.35 crore, which amounts to ₹94 per square foot per month.

Powai continues to be one of the thriving commercial office markets because of its well-established residential areas, good connectivity, proximity to important areas and roads such as Eastern Express Highway, JVLR and the international airport, and the increasing presence of commercial projects.

Powai attracts different sectors such as IT, consulting, BFSI and global capability centres (GCCs) due to the area's robust infrastructure and large, ultra-luxury and modern office spaces. The area's proximity to major areas has enabled the companies to centralize their activities in the micro-market.

Powai is a premier commercial real estate hub in Mumbai due to its established residential areas, infrastructure, and connectivity, attracting sectors like BFSI, IT, and GCCs. Major transactions by companies such as BA Continuum, JP Morgan, and CRISIL underscore a trend of large corporations consolidating operations in high-quality office spaces within this micro-market.

With a long-term commitment of 10 years and nine months, and significant rental value, this deal, including other major leases by JP Morgan and CRISIL, demonstrates a strong corporate confidence in Powai.