6,831 Sq Ft Worli Flat Gets ₹28.5 Lakh Rent
A high-value residential lease has been registered at Three Sixty West in Worli, with a 6,831 sq ft luxury apartment commanding a starting rent of ₹28.5 lakh per month.
The apartment is situated on the 19th floor of Tower B and has been leased for 36 months.
Derive Trading and Resorts Private Limited is the licensor, while IVL Dhunseri Petrochem Industries Private Limited has taken the property on lease.
Rent Escalates Every Year
The transaction includes an annual escalation in rent.
The monthly payment begins at ₹28.5 lakh during the first year before increasing to approximately ₹29.93 lakh in year two and ₹31.42 lakh in the third year.
The total rent payable over the 36-month tenure works out to approximately ₹10.78 crore.
The agreement also includes a ₹1.71 crore security deposit and four car parking spaces.
What the Numbers Show
At the starting rent, the apartment generates approximately ₹3.42 crore in annual rental income before considering subsequent escalations.
Based on the stated 6,831 sq ft area, the initial monthly rental works out to roughly ₹417 per sq ft per month.
While individual luxury leases vary considerably depending on floor, views, furnishing, apartment condition and commercial terms, the transaction provides a useful reference for brokers operating in Mumbai's top-end residential rental market.
Institutional and Corporate Luxury Leasing
The tenant in this transaction is IVL Dhunseri Petrochem Industries, a company operating in the PET resin manufacturing business.
Large corporate leases can form an important part of the luxury residential market, particularly for premium homes offering substantial space, privacy, parking and proximity to Mumbai's major business districts.
The latest transaction also follows another high-value lease involving a Damani-linked entity in the same building earlier this year.
Sandeep Sadh’s Take:
For brokers, the important benchmark is the combination of ₹28.5 lakh monthly rent, 6,831 sq ft area and a three-year commitment. Deals like this help establish the upper end of what Mumbai's corporate luxury rental market can absorb.