India, May 5 -- Princeton Digital Group (India) Management Pvt Ltd has leased 1 million sq ft of space in three buildings of Airoli Knowledge Park near Mumbai for a monthly rent of Rs.10.42 crore from Gigaplex Estate Pvt Ltd- an arm of Mindapce Business Park REIT, according to property registration documents accessed by CRE Matrix.

Property registration documents show that Princeton Digital Group, a global firm in data centre operations, has leased part of the space for 20 years and the balance for 40 years, with a 15-year lock-in period.

The property registration documents contain a 4% rent escalation annually clause for the first 15 years and later a 5% annual escalation for the balance of the lease.

According to the property registr...