In one of Hyderabad’s largest office space transactions, WeWork India has leased 1.75 lakh sq ft at Skyview 20, a Grade-A tech park, on a five-year term with a starting monthly rent of ₹1.72 crore. The company has then sub-leased the entire two-floor space to JP Morgan Services India Pvt Ltd for 60 months at a starting monthly rent of ₹4.38 crore, as per property documents accessed by CRE Matrix, a data-driven real estate consultancy firm.
The two agreements, first between Mahanga Commercial Properties and WeWork, and subsequently between WeWork and JP Morgan, were registered in November 2025, the documents showed.
In the first transaction registered on November 7, WeWork has signed the lease deed with the licensor Mahanga Commercial Properties Private Limited at a starting monthly rent of Rs. 1.72 crore and paid a security deposit of ₹10.3 crore. The area leased is 1.75 lakh sq ft and the starting monthly rent ₹98 per sq ft, the documents showed.
Just days later, on November 13, 2025, WeWork signed a General Service Agreement (sub-lease) with JP Morgan Services India Pvt Ltd, transferring the entire 1.76 lakh sq ft of space. The sharp rent spread between WeWork’s lease ( ₹98 per sq ft) and the sub-lease ( ₹249 per sq ft) highlights the premium attached to WeWork’s fit-outs, amenities, workspace design, and the demand for tailored managed offices from JP Morgan.
JP Morgan has taken 1,501 desks across the fifth and sixth floors of Skyview 20 in Hitech City, Madhapur, and paid a security deposit of ₹25.9 crore. The office comes with 176 car parks, with the sub-lease translating to ₹249 per sq ft, the documents showed.
Located on Hitech City Main Road, Skyview 20 is developed as part of the larger Skyview campus, a Grade-A tech park in Hyderabad. The asset has seen strong leasing traction from multinational financial services and technology firms due to proximity to major campuses, metro connectivity, and rising preference for high-density workspace parks.
Emails have been sent to both WeWork and JP Morgan. The story will be updated if a response is received.
Earlier this year, US-based financial services major JP Morgan Private Limited has pre-leased 1.16 lakh sq ft in a commercial tower being developed by Goisu Realty Private Limited, a subsidiary of the Japanese firm Sumitomo Realty & Development Company, in Mumbai’s Bandra Kurla Complex (BKC), for a monthly rent of ₹6.91 crore, documents accessed by Propstack showed.
Japanese conglomerate Sumitomo’s commercial tower in Mumbai’s business district Bandra-Kurla Complex (BKC), through a long-term lease tenure of 10 years.
With 79.7 million sq. ft. of flexible workspace across the top eight cities as of Q2 2025, India is already the Asia-Pacific region’s largest flex market. The stock is expected to reach 85 million sq. ft. by year-end and surpass 100 million sq. ft. in 2026, according to Cushman & Wakefield’s Global Trends in Flexible Office 2025 report. Bengaluru leads with 21.1 million sq. ft, nearly one-third of India’s total—followed by Delhi-NCR, Pune, and Hyderabad.
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