JP Morgan Services India Private Limited has leased an office space in Powai, Mumbai, for a period of five years. The commercial office space leased has the built-up area of over 2.71 lakh sq ft with a total rental value of ₹612 crore, as per the property registration documents. Situated in One Downtown Central, which was formerly known as CRISIL House, this commercial space spreads from the third floor to the ninth floor of the building.

• The lease agreement details the roles of Cowrks Pvt Ltd as the space manager, JP Morgan as the tenant, and Kairos Property Pvt Ltd (Brookfield Properties) as the property landlord.
• The global financial services firm has leased the flexible office space as well as 312 car parking spaces located at the One Downtown Central property in Mumbai's Powai, which is managed by the Brookfield Properties-backed provider, Cowrks India, as per the documents.
• The office space has been leased for a period of five years, with a lock-in period of 30 months. The starting monthly rent is more than ₹9.23 crore with a total security deposit exceeding ₹55 crore.
• As per the agreement, once the 60-month term is expired, the lease will have to be renewed for an additional 60 months. The documents registered on December 29, 2025, further mentioned that the monthly rent for the office space will increase by 5% annually.
• The company paid a stamp duty of over ₹7 crore and registration fees of ₹30,000, with the lease commencement date for the transaction is April 1, 2026.

1. In June 2025, JP Morgan Private Limited had pre-leased 1.16 lakh sq ft of office space in Bandra Kurla Complex (BKC), Mumbai, in a commercial tower developed by Goisu Realty Private Limited, a subsidiary of the Japanese firm Sumitomo Realty & Development Company, for a monthly rent of ₹6.91 crore.

2. The global financial services giant Morgan Stanley leased an office space of 1 million sq ft for around nine years at a starting monthly rental of ₹15.96 crore in 2024, as per the property registration documents. The office space leased spans across 16 floors located in Mumbai's Goregaon East area in Oberoi Commerze III within Oberoi Garden City. The total chargeable area of the office space is 10.01 lakh square feet.

Major global financial institutions like JP Morgan and Morgan Stanley are rapidly expanding their footprints in key Mumbai commercial areas such as Powai, Bandra Kurla Complex (BKC), and Goregaon East. The substantial volume of space leased underscores a robust commitment to expanding operations in India.

This surge in leasing activity highlights Mumbai's enduring appeal as a premier financial and commercial hub for multinational corporations seeking top-tier "Grade A" office spaces to accommodate growth in technology, analytics, and private wealth management services.