Facebook has renewed its lease for the next five years for a 3.7 lakh-square-foot office space in Hyderabad’s Hitech City. The company will now pay a monthly rent of Rs 2.8 crore for the two lands, located at The Skyview, a prime IT hub in the city.
This is not the first lease renewal for Facebook in Hyderabad. In December 2024, the company renewed another lease of 84,053 sq ft at a rent of Rs 65.7 lakh per month. Additionally, in April 2024, Facebook agreed to pay Rs 2.15 crore per month for a 2.8 lakh square feet office space.
The lease term for the latest renewal is five years, with a security deposit of Rs 16.8 crore. As per the document, the rent will increase by 15% from January 2026.
Hyderabad’s IT corridor, particularly locations like Hitech City and Gachibowli, are witnessing high demand for office rentals. The average rent in Hitech City has risen to Rs 27,500 per month in 2023 from Rs 23,000 in 2019. Similarly, in Gachibowli, the average rent has soared from Rs 22,000 in 2019 to Rs 26,500 in 2023, showing a 20% rise.
