BA Continuum India Private Limited, a non-banking subsidiary of Bank of America, has leased more than 110,000 square feet of office space in Mumbai’s Powai, reflecting continued demand from multinational firms for high-grade commercial real estate in India.
According to lease documents accessed through property data analytics firm CRE Matrix, the company has taken approximately 1.11 lakh square feet across two floors of a Grade A commercial building for a monthly rent of ₹1.43 crore. This works out to around ₹129 per square foot per month. The lease has a tenure of 10 years and nine months.
The agreement includes a rental escalation clause of 15%, with the first increase scheduled for October 2027. Similar hikes will apply every three years thereafter, each calculated on the last paid rent for the remainder of the lease period.
The premises are located on the 22nd and 23rd floors of Cignus, a commercial complex in Powai built on a 15-acre land parcel. The property is part of the portfolio of Chalet Hotels, the hospitality arm of Mumbai-based real estate group K Raheja Corp.
As part of the deal, BA Continuum India has paid a security deposit of ₹8.59 crore and has been allotted 112 car parking spaces. The lease was registered on 24 December 2025, with both the lease term and rent commencing from 1 January 2026.
The transaction comes amid a strong upturn in India’s office property market. Leasing activity has reached record levels since 2023, indicating sustained demand despite global economic uncertainty. According to property consultancy JLL, office leasing volumes in India touched a new high of 83.3 million square feet in 2025, marking a year-on-year increase of nearly 8%.
Multinational corporations accounted for a significant share of this demand, reinforcing India’s position as a key global business destination. Cities including Bengaluru, Hyderabad, Pune and Mumbai recorded their highest-ever annual leasing volumes, pointing to broad-based growth across sectors and regions.
