Tag: Propstack

CommercialLatest Stories

TCS Renews Chennai Office Lease: 1.5M Sq Ft for ₹1,420 Crore

MUMBAI: Tata Consultancy Services (TCS) has renewed its lease for nearly 1.5 million sq ft of office space in Chennai, with a total rental commitment of approximately Rs 1,420 crore over a decade. This move underscores the company’s long-term dedication to one of its key operational hubs. This lease renewal stands out as one of the largest reported in India, especially amid rising concerns about artificial intelligence’s effects on employment in the tech sector. Many global and Indian IT firms have reported productivity improvements due to AI-driven automation, sparking discussions about potential workforce reductions and decreased hiring. The lease pertains…

CommercialLatest Stories

Airbnb Leases 46,437 Sq Ft Office in Gurugram’s DLF Cyber City

NEW DELHI: Airbnb Global Capability Center has secured a lease for 46,437 sq ft of office space in DLF Cyber City, Gurugram, from DLF Cyber City Developers, according to Propstack, a real estate data analytics firm. The leased area is situated on the 21st floor of Tower A in Building No. 5 of DLF Cybercity, covering a usable area of 32,506 sq ft. The lease, effective from October 1, 2025, has a duration of five years, with Airbnb agreeing to pay a rent of Rs 132.5 per sq ft monthly, totaling Rs 61.53 lakh each month. This results in an…

CommercialLatest Stories

McKinsey Renews 35,520 Sq Ft Lease in Mumbai’s BKC

Global consulting firm McKinsey & Company has renewed its lease for a Mumbai office spanning four floors in Bandra Kurla Complex (BKC). This move underscores the persistent demand for Grade A office space in India’s most expensive commercial market. The agreement, finalized through three separate contracts, features rentals up to Rs 759 per sq ft per month, marking it as one of the highest office lease rates in the country. The lease, effective from October 1, 2026, encompasses the ground, first, second, and ninth floors at Maker Maxity-1 North Avenue in BKC. The 10-year agreement highlights global landlords’ long-term commitment…

CommercialLatest Stories

Google Secures 2.6 Million Sq Ft at Alembic City, Bengaluru

BENGALURU: Google is expanding its presence in Bengaluru’s Whitefield by securing approximately 2.6 million square feet at Alembic City, highlighting its long-term commitment to the area. In October 2024, Google IT Services India leased around 650,000 sq ft at this location, and under the agreement, the landlord is obligated to “hold and reserve” three additional blocks—Annex Tower, Office Block Tower G, and Office Block Tower B—exclusively for Google, according to documents from Propstack. The contract states that “the lessor shall not, during the term of this right, negotiate or agree to lease the reserved blocks to any third party” unless…

CommercialLatest Stories

Jaguar Land Rover Leases 146,000 Sq Ft at Brigade Tech Gardens

Jaguar Land Rover Technology and Business Services India has leased 146,000 sq ft of office space at Brigade Tech Gardens in Bengaluru, marking a significant GCC-driven transaction. Documents indicate that the lease encompasses multiple floors: parts of the ground and first floors, along with the entirety of the fifth and eighth floors, substantially expanding Jaguar Land Rover’s presence at the Brookefield campus. The lease entails a warm-shell rental of ₹65 per sq ft per month, with the total estimated monthly expenditure, including fit-out costs, at around ₹1.67 crore. Jaguar Land Rover has committed to a five-year term with a security…

IndustryLatest Stories

Mahindra Logistics Secures 4.75 Lakh Sq Ft Warehouse in Kolkata

Mahindra Logistics Ltd, part of the Mahindra Group’s logistics and supply chain services, has secured over 4.75 lakh sq ft of warehousing space in Howrah district, near Kolkata, through a long-term lease. This transaction is one of the largest logistics leases in eastern India in recent years. The new lease agreement is for a warehouse in Subharara, Howrah, commencing on April 1, 2025, with a duration of 9 years and 9 months. The monthly rental cost for the space is Rs 97.72 lakh, equating to Rs 20.60 per sq ft. Additionally, a security deposit of Rs 2.93 crore is included,…

CommercialLatest Stories

BNP Paribas India Leases 1.45 Lakh Sq Ft in Thane

Representative Image BNP Paribas India Solutions, the technology and operations division of the global banking group, has secured a long-term lease for a commercial office spanning 145,000 sq ft in Thane. This represents one of the largest office deals in the outskirts of India’s commercial hub. The leased office occupies the 11th and 12th floors of the Centaurus commercial tower, developed by Roma Builders, a subsidiary of the House of Hiranandani. The monthly rent for this space will be Rs 94.95 lakh, with a 4.75% annual rental escalation and a security deposit of Rs 8.50 crore. The lease starts on…

CommercialLatest Stories

Microsoft Leases 2.64 Lakh Sq Ft Office in Hyderabad for ₹5.4 Cr/Month

BENGALURU: Microsoft India (R&D) has finalized one of the largest office lease agreements in Hyderabad this year, securing 264,000 sq ft in the city’s financial hub. According to a registered lease document shared by Propstack, the tech giant has inked a new five-year lease with workspace provider Table Space Technologies, with the agreement set to commence on July 1, 2025. The deal encompasses the third and fourth levels of the building, with a total chargeable area of 264,000 sq ft. Microsoft will pay a base monthly rent of ₹1.77 crore at a rate of ₹67 per sq ft, while the…