Full Demand for Office Space in Hyderabad, High-Value Lease Deal Finalized

Hartford Global Services Private Limited, a US-based insurance company, has leased 1.59 lakh square feet of office space for a period of five years at Kalyani Trident, located in Hyderabad’s Gachibowli IT corridor. The leased space spans the 21st and 22nd floors, with a monthly rental of Rs 92.28 lakh, translating to an average rent of Rs 58 per square foot. As part of the agreement, the company has paid a security deposit of Rs 5.53 crore, with a clause providing for a 15 percent rental escalation every three years.

Under the lease terms, Hartford has been allotted 213 car parking slots, with an additional charge of Rs 3,500 per parking space per month. The company has also paid Rs 14 lakh towards stamp duty for the transaction. The rental for the 21st floor will commence from March 1 this year, while the 22nd floor lease will begin from September 1.

Recent large office leasing transactions highlight Hyderabad’s growing appeal to global corporations, increasingly positioning the city ahead of Bengaluru. Major firms such as Facebook India, WeWork India, JP Morgan and JLL have taken up substantial office spaces across HITEC City, Madhapur and Gandipet. These developments underscore the strength of Hyderabad’s commercial real estate market and the rising confidence of global companies in the city as a key business destination.