Tata AIA Leases 99,000 Sq Ft in Thane

Tata AIA has taken 98,671.09 sq ft at Centaurus from Roma Builders, part of House of Hiranandani, under a lease that runs nine years and 11 months. The agreement started on March 1, 2026, with an eight-month fit-out period before rent begins on Nov. 1, 2026, according to registration documents accessed through CRE Matrix.

The lease includes 5% annual rent escalation and common area maintenance charges of Rs 10 per sq ft a month. Based on a starting monthly rent of Rs 67.09 lakh, base rent works out to about Rs 79 crore over the term before escalation, rising to roughly Rs 98 crore including the step-ups, excluding CAM charges.

The deal is notable for both size and timing. A single lease of nearly 1 lakh sq ft is among the larger office transactions recorded in Thane this year, and it adds evidence that insurers and other financial firms are consolidating teams into bigger premises rather than fragmenting across multiple smaller locations.

For House of Hiranandani, the lease provides a long-dated income stream and validates Hiranandani Estate as a destination for enterprise occupiers. For Tata AIA, the move likely secures capacity for expansion while keeping operations in a growing suburban office node with access to Mumbai’s wider labor pool.

Investors will watch whether the transaction helps support commercial real estate leasing momentum in Thane and nearby micro-markets, where demand from financial services could keep vacancy tight and rental growth intact. The next catalyst is whether other large occupiers follow with similar long-tenor leases in the Mumbai suburban belt.