India, Jan. 21 -- UK-based University of York has leased 37,602 sq ft of commercial space in Powai, Mumbai, for a monthly rent of nearly Rs.50 crore for a tenure of around five years, according to property registration documents accessed by Propstack.

The space has been leased from Kairos Properties Pvt Ltd, a Brookfield affiliate, in One Boulevard, a building in the Powai area of Mumbai.

The space is located on the third and fourth floors of the building, with a starting monthly rent of Rs.75.20 lakh, the documents showed.

The space has been leased for five years, and the agreement includes a clause for rent increases of 5 per cent each year. The per-month rent in the second year is Rs.78.96 lakh, in the third year Rs.82.91 lakh, in t...