{"id":1295026,"date":"2025-05-14T08:29:42","date_gmt":"2025-05-14T02:59:42","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1295026"},"modified":"2025-05-14T08:30:17","modified_gmt":"2025-05-14T03:00:17","slug":"tcs-will-pay-rs-2-8-crore-rent-month-for-630000-sq-ft-office-space-in-chennai","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/tcs-will-pay-rs-2-8-crore-rent-month-for-630000-sq-ft-office-space-in-chennai\/","title":{"rendered":"TCS Will Pay Rs 2.8 Crore Rent\/month For 630,000 Sq Ft Office Space In Chennai"},"content":{"rendered":"\n

A recent media report<\/a> indicates that country\u2019s IT major, Tata Consultancy Services Ltd (TCS) has leased around 630,000 sq.ft. of office space in Chennai’s Ozone Techno Park with a\u00a0 monthly rental of \u20b92.8 crore.\u00a0<\/p>\n\n\n\n

\"TCS<\/figure>\n\n\n\n

TCS Leases 630,000 sq.ft. in Chennai<\/strong><\/p>\n\n\n\n

Documents accessed by real estate data analytics firm Propstack revealed that India\u2019s largest information technology (IT) services company leased the space in Chennai\u2019s Navalur suburb from Platinum Holdings Pvt. Ltd for 10 years after paying a deposit of \u20b925.5 crore.<\/p>\n\n\n\n

It appears that the rent will increase by 12% after every three years as per the lease terms.<\/p>\n\n\n\n

So far, TCS did not released any comments in this regards.<\/p>\n\n\n\n

If we observe the recent trends, office space leasing by domestic IT services companies has been slow across major Indian cities.<\/p>\n\n\n\n

This is reflecting a slowdown in the sector amid global economic and geopolitical uncertainties.<\/p>\n\n\n\n

In the meantime, the domestic IT services companies were continuing to expand, said Raja Seetharaman, co-founder, Propstack.<\/p>\n\n\n\n

Technological Shifts Impacting IT Sectors <\/strong><\/p>\n\n\n\n

Further Seetharaman said, \u201cDespite broader economic factors and technological shifts impacting the IT sector, companies continue to commit to significant office spaces, reflecting diverse operational strategies including work from office and regional preferences.\u201d<\/p>\n\n\n\n

Adding, \u201cThis transaction also indicates that while GCCs (global capability centres) continue to be the flavour, IT companies in India continue to expand.\u201d<\/p>\n\n\n\n

If we look into the previous years data, TCS leased over 1 million sq.ft. of office space in Hyderabad for 15 years, as per the information provided by the Propstack.<\/p>\n\n\n\n

It’s registration took place in April this year, the lease had commenced on 1 October. <\/p>\n\n\n\n

As indicated by the reports, the leasing by other IT firms has been slow, with Cognizant Technology Solutions Corp. and Wipro Ltd even giving up real estate to rationalise costs.<\/p>\n\n\n\n

This is worsening to the extent that the IT major Cognizant sold about 600,000 sq.ft. of office property on Chennai\u2019s Old Mahabalipuram Road to Bengaluru developer Bagmane Constructions for \u20b9612 crore earlier this year.<\/p>\n\n\n\n

The property advisory CBRE India published that Gross office space leasing across India touched 18 million sq.ft. in the January-March period. <\/p>\n\n\n\n

So far, GCCs, or the remote operations of multinational companies in India, accounted for 45% of this office space leasing.<\/p>\n","protected":false},"excerpt":{"rendered":"

A recent media report indicates that country\u2019s IT major, Tata Consultancy Services Ltd (TCS) has leased around 630,000 sq.ft. of office space in Chennai’s Ozone Techno Park with a\u00a0 monthly rental of \u20b92.8 crore.\u00a0 TCS Leases 630,000 sq.ft. in Chennai Documents accessed by real estate data analytics firm Propstack revealed that India\u2019s largest information technology […]<\/p>\n","protected":false},"author":25,"featured_media":1295039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[280,92],"class_list":["post-1295026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-chennai","tag-tcs"],"acf":[],"yoast_head":"\nTCS Will Pay Rs 2.8 Crore Rent\/month For 630,000 Sq Ft Office Space In Chennai - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/tcs-will-pay-rs-2-8-crore-rent-month-for-630000-sq-ft-office-space-in-chennai\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TCS Will Pay Rs 2.8 Crore Rent\/month For 630,000 Sq Ft Office Space In Chennai - 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