Latest news with #KaranBolaria
The Wire
13-05-2025
- Business
- The Wire
Godrej Fund Management and the Government of Maharashtra sign MoU at the WAVES Summit 2025 for the development of a state-of-the-art film, television, and media campus at Godrej City, Panvel
• Proposed investment of INR 2,000 crore with a potential to generate an estimated employment of 2500. • Phase 1 investment of approximately INR 500 Crore on a land area of roughly 10 acres. MUMBAI, India, May 12, 2025 /PRNewswire/ — Godrej Fund Management executed a Memorandum of Understanding (MoU) with the Government of Maharashtra at the WAVES Summit 2025, Mumbai. This strategic partnership aims to accelerate the growth of art, media, and television across Maharashtra by developing a state-of-the-art film and media campus built to global standards of technology, safety, and sustainability. Under this MoU, the Government of Maharashtra will facilitate Godrej Fund Management and Investment Advisers Private Limited to obtain necessary permissions, registrations, approvals, and fiscal incentives from related state departments, as per the existing policies, rules, and regulations of the Government of Maharashtra for the development of the campus. Located at Godrej City, Panvel, an integrated Golf Township, the campus will house AA studios, which will serve as a hub for artists, musicians, and filmmakers, providing state-of-the-art amenities and world-class production facilities. Leading international experts are engaged to design a cutting-edge, future-ready facility equipped with the latest technologies, including AI. As the world's largest content producer with a skilled workforce, India stands to gain significantly as the studio aims to harness this talent and drive storytelling excellence. The facility is expected to generate a significant economic impact by creating employment across content production, hospitality, and technical services, while also boosting tourism and foreign exchange, which will further support leveraging the Government of India's progressive new incentive policy for foreign film productions. It will further catalyze growth in ancillary industries, positioning Panvel as a vibrant hub for creative entrepreneurship and innovation. This development also aligns seamlessly with Mumbai 3.0's vision of progressive urbanization and sustainable development and aims to accelerate economic growth across the state. Karan Bolaria, MD & CEO, GFM, said, 'This initiative marks a meaningful partnership with the Government of Maharashtra to foster innovation, creativity, and employment. Aligned with the Mumbai 3.0 vision, we aim to build a vibrant ecosystem that attracts global talent, empowers local creators, and positions Panvel as a cultural and commercial hub.' Godrej City, Panvel is a self-sustaining golf township spread across ~145 acres, anchored by a 30-acre, 9-hole golf course. The development integrates key urban conveniences, including a reputed school, healthcare facilities, commercial zones, and popular food outlets. Strategically located, it offers excellent connectivity—just a short drive from the upcoming Navi Mumbai International Airport and the Mumbai-Pune Expressway. The operational Atal Setu (Mumbai Trans Harbour Link) further reduces travel time to South Mumbai. Its seamless access to both natural landscapes and urban infrastructure makes it an ideal destination for film shoots, music videos, and commercial productions of all scales. For more information, please visit: Photo: Logo: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). This is an auto-published feed from PTI with no editorial input from The Wire.
Hindustan Times
08-05-2025
- Business
- Hindustan Times
Amazon renews ₹1.73 crore monthly lease with Godrej Green Homes in Mumbai's Vikhroli
Godrej Green Homes Pvt Ltd has renewed the lease of more than 94,000 sq ft of space to four Amazon group companies in Mumbai's Vikhroli area, with a monthly rent of ₹1.73 crore for five years, according to property registration documents obtained from CRE Matrix. According to the documents, the space on the 7th floor of the building named Godrej Two on the Eastern Express Highway (EEH) in Vikhroli was leased to Amazon Seller Services Pvt Ltd, Amazon Development Centre India Pvt Ltd, Amazon Data Services India Pvt Ltd, and Amazon Smart Commerce Solutions Pvt Ltd. The documents show that the total carpet area of the four office units is over 58,000 sq ft, and the area leased is over 94,000 sq ft. The office units are leased for a period of five years with a lock-in period of 48 months, according to the documents. The documents show that the transaction for the four office units was registered on April 30, 2025, and the lease period is from January 2025 to December 2029. The lease includes four office units and 60 parking spaces, of which 20 are designated as paid parking. As per the documents, the parking fee is ₹8,508 per space per month. Also Read: Amazon leases 2.3 Lakh Sq Ft in Powai at a rental of ₹3.57 crore per month As per the property registration documents, the first transaction involved portions of units 701, 702, and 703, totaling over 42,000 sq ft of leasable space. This space was leased to Amazon Seller Services Pvt Ltd at a monthly rent exceeding ₹78 lakh. According to the property registration documents, the second transaction involved portions of units 701, 702, 703, and 704, totaling over 19,926 sq ft of leasable area, leased to Amazon Development Centre India Pvt Ltd for a monthly rent exceeding ₹36 lakh. The third transaction covered parts of units 701 and 704, comprising 16,447 sq ft of leasable space, leased to Amazon Data Services India Pvt Ltd at a monthly rent of over ₹30 lakh. The fourth transaction involved leasing unit 703, measuring 15,181 sq ft, to Amazon Smart Commerce Solutions Pvt Ltd for a monthly rent of more than ₹27 lakh, the documents state. The listed real estate developer is also a confirming party in each of the agreements between Amazon and Godrej Green Homes Pvt Ltd. 'Amazon has renewed its lease for office space on the 7th floor of Godrej Two, located along the Eastern Express Highway in Vikhroli, Mumbai. As one of the building's original tenants, Amazon's continued presence reaffirms the enduring appeal of Godrej Two as a premium commercial address,' Karan Bolaria, MD & CEO, Godrej Fund Management, said in a statement to Launched in March 2021, Godrej Two is a Grade-A office development known for its premium workplace amenities, and LEED Platinum certification. The building is currently 100% leased, reflecting the strong and sustained demand it commands across diverse sectors, including BFSI, IT, logistics, pharmaceuticals, engineering, and manufacturing, Bolaria added. An email query sent to the representative of Amazon did not receive a response. The story will be updated if a response is received. Also Read: Mumbai real estate: Amazon Data Services buys 38 acres of land from Lodha Group for ₹450 crore near Mumbai Amazon Data Services Pvt Ltd in August 2023, had taken 1.74 lakh sq ft of freehold industrial land from L&T in Powai in Mumbai. The rent was ₹2.59 crore per month, lease documents accessed by CRE Matrix, a real estate consultant, showed. The lease expiry date is August 15, 2043, according to CRE Matrix. Amazon Data Services Pvt Ltd in December 2024, was in the news for purchasing a 38-acre land parcel in Ambernath near Mumbai from Macrotech Developers, also known as Lodha Group, for ₹450 crore, according to the property registration documents accessed by Propstack.
