Facebook renews Hyderabad’s Hitech City office lease for ₹2.8 crore monthly rent: Report | Company Business News

Facebook has renewed its Hyderabad office space lease for ₹2.8 crore monthly payment across two separate transactions, reported the news portal Hindustan Times, citing registration documents sourced by Propstack.

According to the report, the total office space is 3.7 lakh sq feet, located in The Skyview in Hitech City, Hyderabad, one of the prime IT corridors in the city. 

The company earlier paid ₹65.7 lakh rent for 84.053 sq ft for the transaction, which was renewed in December. Before that, in another renewal transaction, the company paid ₹2.15 crore monthly rent for 2.8 lakh sq ft, as per the news report.

The total lease period for the new deed is five years, for which the company has paid a security deposit of ₹16.8 crore. 

The rent will be escalated by 15 per cent from January 2026 onwards, according to the documents. Facebook did not respond to the news portal’s email query till the time of publishing.

The city of Hyderabad has geographically become an IT hub with tech spaces like Gachibowli, HITECH City, etc. These are all concentrated in one zone, towards the west of the city and hence the demand for these areas remain higher, as per the news report. 

Rental rates rise

Hyderabad’s Hitech City witnessed its average rent go up to nearly ₹27,500 per month in 2023, compared to its earlier level of ₹23,000 per month in 2019, according to the news portal. 

Rent in Gachiwowli has risen to ₹26,500 per month in 2023, compared to its earlier level of ₹22,000 in 2019, marking an almost 20 per cent hike. Rental in other places like Kondapur also went up by 19 per cent, according to the news portal citing Anarock data.

Earlier in August, Google also renewed its leader for ₹2 crore per month payment in exchange for a 3.7 lakh sq ft office space in the city.