India, Feb. 27 -- State Bank of India has leased 1.34 lakh sq ft of office space in Navi Mumbai's Airoli for its Global Capability Centre under a five-year lease agreement at a monthly rent of Rs.1.68 crore, documents accessed by Propstack showed.

The State Bank Global IT Centre leased the space spanning the ground and fourth through ninth floors at Newa Bhakti Knowledge City from Newa Technocity India Private Limited, the documents showed.

The lease rent is Rs.125.05 per sq ft per month, translating to a total monthly rental of Rs.1.68 crore, inclusive of rent and fit-outs. The agreement includes a 15% escalation clause upon renewal after five years, and the bank paid a security deposit of Rs.10.11 crore, according to documents.

A set...