Global flexible workspace provider Executive Centre India Limited has leased 2.03 lakh sq ft of office space in Hyderabad’s Hitec City for a monthly rental of ₹2.24 crore for five years, according to documents accessed by Propstack.
The space, located in Avance Business Hub, was leased from the landlord, Phoenix Infocity Private Limited, under a new agreement commencing from February 1, 2026. The lease spans the third and fourth floors of the building and covers a chargeable area of 2,03,755 sq ft.
The deal was signed at a monthly rental of ₹110 per sq ft for 5 years. The rent will increase by 5% every year, the document showed.
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The company also paid a security deposit of ₹14.39 crore, and the transaction includes a three-year lock-in period from the lease commencement date. The document showed that while the lease commences on February 1, 2026, rent will begin on August 1, 2026, indicating a six-month rent-free period.
The transaction also includes 204 parking spaces, and the company is expected to pay a monthly car parking charge of ₹3,500 per space, the document showed. Executive Centre is also permitted to sublease the space to other companies with prior written intimation, it showed.
Located in HITEC City, one of Hyderabad’s prime IT and commercial corridors, Avance Business Hub forms part of the larger Phoenix Infocity, which houses several multinational occupiers and technology firms.
Email queries have been sent to the Executive Centre and Phoenix Infocity Private Limited. The story will be updated if a response is received.
Previous transactions in Hyderabad
Last month, Apple India Private Limited leased 57,000 sq ft of office space at WaveRock IT Park in Hyderabad for five years at a monthly rent of ₹71.6 lakh, expanding its total footprint at the campus to approximately 6.34 lakh sq ft.
Apple India Private Limited has taken five floors in Tower 2.1 (Tower 1 of Phase II) at WaveRock, owned by TSI Business Parks (Hyderabad) Private Limited. The lease is a fresh transaction and commenced on December 1, 2025, the document showed.
As part of the agreement, Apple paid a security deposit of ₹4.30 crore. The lease also includes an annual escalation clause of 4.77% and a three-year lock-in period, according to the document.
Earlier, Facebook leased nearly 69,702 sq ft of office space in Hyderabad’s Hitec City for a five-year term at a monthly rent of almost ₹67 lakh. The company leased the space in the Skyview 20 building at The Skyview complex, with the lease registered on December 2, 2025. Rent commencement began on December 18, 2025, while the lease term is effective from July 18, 2025, for a period of five years, the documents showed.
