Tata AIA Life leases nearly 1 lakh sq ft office in Thane’s Hiranandani Estate

Tata AIA Life Insurance Company has leased nearly 99,000 sq ft of office space at Centaurus in Hiranandani Estate, Thane, in a transaction that will entail a rental payout of around Rs 98 crore over the lease tenure.

The insurance company has taken 98,671.09 sq ft of office space from Roma Builders, part of House of Hiranandani. The lease has a tenure of nine years and 11 months.

The lease commenced on March 1, 2026, while the rent commencement date is November 1, 2026, following an eight-month fit-out period from March 1 to October 31, 2026, showed registration documents accessed through CRE Matrix, a data analytics platform.


The lease agreement provides for a 5% annual escalation in rent. Tata AIA will pay common area maintenance (CAM) charges of Rs 10 per sq ft per month. The transaction was registered on July 31.

Based on the starting monthly rent of Rs 67.09 lakh, the total base rental payout over the nine-year-and-11-month tenure would be around Rs 79 crore before factoring in the annual escalation. Including the contracted 5% annual escalation, the cumulative rental payout is estimated at around Rs 98 crore, excluding CAM charges.

ET’s email query to Tata AIA Life Insurance Company remained unanswered.

With nearly 1 lakh sq ft of space leased in a single transaction, the deal is among the sizeable office leasing transactions recorded in the Thane market this year.

The lease adds to the growing activity in Thane’s commercial office market, where established business districts and large integrated developments are attracting occupiers seeking sizeable office spaces outside Mumbai’s traditional commercial locations.

The transaction also reflects continued demand for large-format office spaces from financial services and insurance companies, as businesses expand their operational footprint and consolidate teams into larger workplaces.