The flexible workspace operator Executive Centre India has signed a lease agreement for approximately 115,000 square feet of office space in the Worldmark complex located in Aerocity Delhi. This complex belongs to Bharti Real Estate, a division of Bharti Enterprises, which also includes Bharti Airtel.
Deal Terms and Rental Payments
According to lease documents available from Propstack, the total rental payment under this agreement will amount to 309 crore rupees over a nine-year period. The company will pay for 114,950 square feet, setting the monthly rate at 2.47 crore rupees. Executive Centre has already paid a deposit of 14.83 crore rupees as part of the new lease agreement, which began in March 2026.
Location Details and Rent Escalation
The company will occupy space on the seventh floor of Worldmark 6. As per the documents, the rent for the leased space will increase by 15 percent every three years. Worldmark is a commercial campus of Bharti Real Estate in Aerocity New Delhi, spanning 20 million square feet.
Commercial Real Estate Market Context
The deal with Executive Centre comes against the backdrop of the expected completion of the second phase of the Worldmark complex, including Worldmark 6, by Bharti Real Estate in 2027. Previously, Hero MotoCorp signed a new lease agreement in Worldmark 6 for 231,109 square feet for a nine-year term with an estimated total rental value of 593.8 crore rupees. Furthermore, global coworking provider WeWork leased 113,976 square feet in the same building for 10 years, with a total rental value of 328.5 crore rupees.
Office Real Estate Market Analysis
According to consulting firm Knight Frank India, from January to June 2026, office space absorption in Tier-1 cities reached 40 million square feet. This was driven by high leasing activity from Global Capability Centers (GCCs), technology firms, and domestic companies.
Bharti Real Estate Management's View
The head and CEO of Bharti Real Estate previously told Business Standard that despite the high demand for A-plus grade office spaces in India, the most significant challenge remains the limited availability of premium office real estate. He noted that there are few developers in this segment because it requires corporations with substantial financial capabilities capable of investing their entire capital upfront, even before generating revenue. He added that projects like Worldmark attract the attention of three types of organizations: those planning entry into the Indian market, those relocating from regional centers to premium locations, and government and semi-government institutions. Bharti Realty management believes the company is in a favorable position regarding location, offerings, and competition. They stated that they are currently achieving a rental rate of 270 rupees per square foot and are confident in soon reaching the 300 rupees per square foot mark.
Rental Rate Comparison
Propstack reports that while the lease agreements for Executive Centre and Hero MotoCorp were signed at a monthly rate of 215 rupees per square foot, WeWork will pay a monthly rate of 210 rupees per square foot.
