Bengaluru: IBM India Pvt. Ltd has signed a 10-year lease for over 230,000 sq. ft of workplace house throughout six flooring at Intellion Park in Gurugram’s Sector 59, with a rental outlay of ₹180 crore.
The worldwide know-how main can pay a month-to-month lease of ₹1.25 crore, with a 15% rental escalation each three years. The lease deed was signed in December, as per paperwork accessed by actual property knowledge analytics platform Propstack.
IBM has leased the house from Mikado Realtors Pvt. Ltd, which is promoted by Tata Realty and Infrastructure Ltd (TRIL), the paperwork confirmed.
Intellion Park in Gurugram is a campus-style info know-how (IT)/IT enabled companies (ITeS) particular financial zone, unfold throughout 25 acres.
In one other giant lease transaction, Everlasting Ltd’s meals supply service firm Zomato not too long ago leased over 270,000 sq. ft of workplace house at TRIL’s Intellion Park Gurugram.
“Intellion continues to draw high quality shoppers with giant house necessities at NCR. First, Zomato, and now IBM—that’s 0.5 million sq. ft absorbed by simply two tenants. IBM’s 10-year lease with a complete outlay of ₹180 crore highlights the continued urge for food for big flooring plates and long-term consolidation in NCR’s premium workplace corridors,” stated Raja Seetharaman, co-founder, Propstack.
An IBM India spokesperson did not reply to Mint‘s question. A TRIL spokesperson declined to touch upon the transaction.
IBM India has been steadily increasing its workplace footprint within the nation.
Final yr, it took up 161,884 sq. ft on lease from Golflinks Software program Park Pvt. Ltd on the Pine Valley constructing in Embassy Golflinks Enterprise Park in Bengaluru. The enterprise park is owned by Embassy REIT and a neighborhood associate. IBM can pay roughly ₹145 crore in lease for a 60-month lease tenure.
In 2025, IBM India additionally leased round 110,000 sq. ft of workplace house from Desk Area, a managed workspace supplier, in Bengaluru.
Know-how corporations and versatile workspace operators led workplace absorption exercise in 2025, which hit a file excessive of 82.6 million sq. ft (in gross leasing) throughout India’s the highest 9 cities, in comparison with 79 million sq. ft in 2024, in accordance with property advisory CBRE India.