Tata Sons extends Colaba bungalow lease at Rs 17.6 lakh monthly rental

Bengaluru: Tata Sons has renewed its lease agreement with subsidiary Ewart Investments for a luxury bungalow in Colaba at a monthly rent of about Rs 17.6 lakh, according to documents sourced from property analytics platform Zapkey.The property, The Cabins, has long-standing ties with the Tata Group and previously served as a residence for Ratan Tata. Documents accessed through Zapkey show that Ewart Investments is the licensor, while Tata Sons is listed as the licensee.The bungalow has a super built-up area of around 13,200 sft and comprises a basement, ground floor and three upper floors. The agreement also includes an interest-free security deposit of Rs 10 crore.“This deal, combined with the state-of-the-art security and infrastructure upgrades outlined in the agreement, suggests the property may be getting ready for a high-profile occupant, likely continuing its tradition as a residence for the Tata leadership,” said Zapkey founder Sandeep Reddy.