TCS Leases 6.3 Lakh Sq. Ft in Chennai for ₹2.8 Crore Monthly

Tata Consultancy Services (TCS) has leased a significant office space in Chennai, occupying 6.3 lakh square feet in Ozone Techno Park, Navalur. The transaction, worth ₹2.8 crore per month as rent, is one of the city’s biggest commercial property deals this year.

The terms of the lease, based on Propstack data, are effective as of March 15, 2025, and will last for 10 years. There is a three-year lock-in clause effective as of March 14, 2028. The leased area, comprising seven floors, also has 631 parking bays that cover stilt and surface areas.

The rent is also ₹45 per sq ft per month, with a 12% escalation clause every three years. TCS deposited ₹25.5 crore as a security deposit with the owner of the property, Platinum Holdings Private Limited.

Email requests to TCS and Platinum Holdings are awaiting a response.

Chennai’s office space deals on the rise

This rental follows a spate of huge office deals in the IT hubs of Chennai. Walmart leased 4.6 lakh sq ft at International Tech Park in January for ₹3.26 crore every month, for which it paid a deposit of ₹19.55 crore.

In March, Cognizant sold its Indian headquarters on Old Mahabalipuram Road (OMR) to Bagmane Constructions for ₹612 crore. The building is 5.9 lakh sq ft in size on a 13.6-acre land parcel. The deal was brokered by JLL.

In August last year, LTI Mindtree rented 5.85 lakh sq ft in Manapakkam with a minimum monthly rent of ₹3.98 crore.

These developments underscore this rental follows a spate of huge office deals in the IT hubs of Chennai. Walmart leased 4.6 lakh sq ft at International Tech Park in January for ₹3.26 crore every month, for which it paid a deposit of ₹19.55 crore.

In March, Cognizant sold its Indian headquarters on Old Mahabalipuram Road (OMR) to Bagmane Constructions for ₹612 crore. The building is 5.9 lakh sq ft in size on a 13.6-acre land parcel. Chennai’s steady rise as a major IT and commercial hub, particularly along the OMR and peripheral IT corridors.