US tech major IBM has strengthened its presence in one of India’s most active technology and corporate hubs by leasing approximately 230,000 sq ft at Tata Realty and Infrastructure’s Intellion Park in Sector 59, Gurugram, for 10 years—according to Propstack documents. The company has signed the lease at a monthly rental of ₹1.25 crore for a chargeable area of 230,378 sq ft. This lease is also indicative of Gurugram’s growing appeal to MNCs seeking large workspaces.
IBM Expands
IBM has occupied six consecutive floors—the 7th to the 12th—within the Intellion Park complex, bringing its total projected rental outlay to approximately ₹180 crore over the duration of the lease. This commitment comes at a time when major corporations are looking to occupy workspace in Tier 1 cities. India’s top metros continue to witness robust leasing activity, especially for premium amenities and better overall connectivity.
In recent times, several other companies have also leased large spaces. One of them, Eternal Limited’s Zomato, has leased approximately 270,000 sq ft. Its office spans from the ground floor to the 6th floor, further consolidating its presence in Gurugram’s corporate landscape. Similarly, Zomato is paying ₹2.33 crore in monthly rent for a chargeable area of 278,249 sq ft, according to reports by Propstack. Unlike IBM, its lease is for a much shorter period—59 months. However, its total physical office presence surpasses IBM’s.
Co-Founder of Propstack
Commenting on these noticeable changes in the corporate landscape, Raja Seetharaman, Co-founder of Propstack, mentioned that Intellion continues to attract quality clients with large space requirements in the NCR. “First Zomato and now IBM — that is 0.5 million square feet absorbed by just two tenants. IBM’s 10-year lease with a total outlay of ₹180 crore highlights the continued appetite for large floor plates and long-term consolidation in NCR’s premium office corridors,” he added.
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