Bengaluru, Feb. 27 -- India's largest lender State Bank of India (SBI), through State Bank Global IT Centre, has taken up 134,000 sq. ft of office space on lease at Newa Bhakti Knowledge City, in Navi Mumbai's Airoli locality.

It has leased the space to set up a global capability centre (GCC), spread across six floors, from Newa Technocity (India) Pvt Ltd.

SBI will pay roughly Rs.1.68 crore in monthly rent for the five-year lease tenure, as per documents accessed by real estate data analytics platform Propstack. The charges include rent plus interior fit-outs for the space. The lease transaction was signed in February. If the lease is renewed, there will be a 15% escalation in rent after five years.

In January, SBI chairman Challa Sree...