Turtlemint: Insurance platform Turtlemint leases 35,000 sq ft office near Mumbai airport

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Sequoia Capital backed-Invictus Insurance Broking, which operates on-line insurance platform Turtlemint and one in all its group firms Fintech Blue Solutions have leased over 35,000 sq ft office area at The ORB complicated near the Mumbai airport.

These firms have leased the area for a five-year tenure from Chalet Hotels, a Ok Raheja Corp firm. The occupiers will probably be paying leases value round Rs 28 crore throughout the whole time period of the lease.

“The opening of our new office at The ORB, is an important step to cater to the increasing number of employees we are adding to realize the company goals. The new office will provide us with room to grow… we steadily plan to grow our partnerships and collaborate with other players in the industry,” mentioned Dhirendra Mahyavanshi, Co-founder & CEO, Turtlemint.

The ORB is situated near the airport and Andheri suburb of Mumbai, an general fast-growing industrial and business hub.

ET’s e-mail question to Ok Raheja Corp remained unanswered till the time of going to press.

International property guide JLL India acted because the transaction advisor.

“Mumbai is one of the cities that has witnessed the maximum percentage of employees returning to the office and this momentum will lead to the demand continuing to be strong in the future as well,” mentioned Karan Singh Sodi, regional managing director, Mumbai & Ahmedabad, JLL.

Office demand has made a powerful comeback. The first 9 months of 2022 have witnessed report internet absorptions backed by sturdy provide completions with wholesome pre-commitments.

India’s office property market has touched a three-year excessive of 30.3 million sq ft throughout the nine-month ended September backed by strong provide completions with wholesome pre-commitments.

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