New Delhi, Oct. 23 -- LuLu International Shopping Malls Private Limited has leased 62,035 sq ft of carpet area at I-Thums Galleria in Greater Noida for 15 years. They have already it to rental payments of nearly Rs.51 crore, according to lease documents accessed by property data platform Propstack.

The agreement covers space on the mall's lower ground floor as the UAE-based retailer expands across Uttar Pradesh and the wider Delhi-NCR market.

The lease includes 56,035 sq ft of retail space, and the remaining 6,000 sq ft is designated for back-of-house operations. According to the documents, the initial monthly rent is approximately Rs.26.41 lakh. LuLu will pay Rs.45 per sq ft for the retail area and Rs.20 per sq ft for the back-of-house...