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Sequoia Capital Backed – Invictus insurance brokingWhich operates an online insurance platform turtle and one of its group companies Fintech Blue Solutions Has leased over 35,000 sq. ft. office space in ORB campus near Mumbai Airport.
These companies have leased the space for a tenure of five years from Chalet HotelOne K Raheja Corp. company. The occupants will have to pay a rent of about Rs 28 crore during the total period of the lease.
“The opening of our new office at ORB is an important step in meeting the growing number of employees we are adding to achieve the company’s goals. Dhirendra Mahavanshi, Co-Founder and CEO, Turtlemint said, “The new office will provide us with space to grow… We plan to continuously expand our partnerships and collaborate with other players in the industry.
ORB is located close to the airport and the Andheri suburb of Mumbai, which is growing rapidly overall commercial and business center.
ET’s email query to K Raheja Corp remained unanswered till it went to press.
International property consultant JLL India acted as transaction advisor.
Mumbai and Ahmedabad Regional Managing Director, Karan Singh Sodi said, “Mumbai is one of the cities which has seen maximum percentage of employees returning to office and at this pace the demand will remain strong in future as well.” , JLL.
Office demand has made a strong comeback. The first nine months of 2022 have seen record net absorption backed by strong supply fulfillment with healthy pre-commitments.
India’s office property market touched a three-year high of 30.3 million sq ft during the nine months ended September, backed by strong supply completions along with healthy pre-commitments.
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