India, Nov. 7 -- Qatar National Bank has renewed its 8,079 sq ft office lease at Maker Maxity in Bandra Kurla Complex (BKC) at a starting monthly rent of Rs.62.6 lakh, or Rs.775 per sq ft, among the highest commercial lease rates in the country, according to documents accessed by Propstack.

The renewal covers the ground floor of 4 North Avenue at a monthly rent of Rs.775 per sq ft. The bank has occupied the space since 2016, when rent was Rs.381 per sq ft per month, rising to Rs.438 per sq ft in 2020 before the latest revision, the documents showed.

The new agreement tenure is for another five years, starting from October 26, 2026. The deal includes an annual escalation of 4.5% on the rent, along with a security deposit of Rs.7.51 crore...