India, Aug. 25 -- Microsoft India (R&D) Pvt Ltd has signed a fresh lease for 2.64 lakh sq ft of office space in Hyderabad for Rs.5.4 crore monthly rent in one of the city's largest commercial real estate deals of the year.

Documents accessed by Propstack showed that the five-year lease commenced in July 2025 at Phoenix Centaurus in Gachibowli, Hyderabad, an area near the city's IT corridor.

The space, located on the 3rd and 4th floors, has been leased from Tablespace Technologies Limited, which in turn has leased it from Phoenix Tech Zone. According to the agreement, the rent will be increased by 4.8% annually.

Microsoft will pay an effective outgoing rent of Rs.204 per sq ft per month, including rent, common area maintenance, operatin...