In a significant commercial real estate development, WeWork India has leased 1,75,953 sq ft of office space at Skyview 20, a Grade-A commercial tower located in Hyderabad’s Hitech City. The property, known for its premium infrastructure and strategic location, continues to attract major corporates due to its connectivity and modern workspace environment.
According to registration details, WeWork entered into a 60-month lease agreement with Mahanga Commercial Properties Private Limited. The leased area covers the 5th and 6th floors of the tower and includes 176 car-parking spaces. The agreement carries a monthly rent of approximately ₹1.72 crore at a base rate of ₹98 per sq ft. A security deposit of around ₹10.34 crore has also been paid. The lease features a lock-in period of nearly 40 months, a rent-free fit-out period of 4.5 months, and a scheduled rent escalation of 15% after 36 months.
Shortly after securing the premises, WeWork sub-leased the entire workspace to JP Morgan Services India Pvt Ltd. The sub-lease agreement spans the same 60-month duration and includes fully fitted interiors, 1,501 desks, and access to all associated amenities. JP Morgan will be paying a monthly rent of approximately ₹4.38 crore, translating to ₹249 per sq ft. The sub-lease also includes a security deposit of about ₹25.97 crore and annual rent escalation of 5%. Fit-out charges have been calculated at ₹3,540 per sq ft, and the handover of space was completed in mid-November.
This transaction highlights the rising demand for managed, plug-and-play office solutions among global financial and technology companies. The considerable difference between the primary lease rent and the sub-lease rent reflects the added value of furnished, flexible, and service-enabled workspaces that reduce operational setup time for large occupiers. Skyview 20’s location in the heart of Hitech City further strengthens its appeal as a preferred choice for multinational firms seeking scalable and high-quality offices.
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