Uber India Systems Leases 9 Lakh Sq Ft Office Space in Hyderabad for ₹839 Crore
Uber India Systems Private Limited has leased nearly 9 lakh square feet of office space in Hyderabad for a total rent of ₹839 crore over 10 years, according to documents accessed by Propstack.
Key Details of the Lease Agreement
- Leased Area: 9,01,115 square feet of chargeable area in Meenakshi Eco Park Tower 1
- Rental Rate: ₹65 per square foot
- Monthly Rent: ₹5.86 crore
- Lease Tenure: 10 years
- Rent Escalation: 15% every three years
Transaction Details
- Carpet Area: 7,29,471 square feet
- Security Deposit: ₹35.14 crore
Uber's Expansion Plans in India
Uber CEO Dara Khosrowshahi has expressed the company's interest in expanding its operations in India, including setting up a corporate office in Bharat Future City. The company plans to launch two new tech centres in Hyderabad and Bengaluru by the end of 2027.
Previous Office Transactions in Hyderabad
- Netflix: Leased 41,435 sq ft of office space at Atria Block of International Tech Park Hyderabad (ITPH) for a monthly rent of ₹39.36 lakh for five years
- Facebook India: Leased 69,702 sq ft of office space in Hitec City for a five-year term at a monthly rent of almost ₹67 lakh
- Apple India: Leased 57,000 sq ft of office space at WaveRock IT Park for five years at a monthly rent of ₹71.6 lakh, expanding its total footprint to approximately 6.34 lakh sq ft