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Propstack
@PropstackIndia
Propstack provides comprehensive and most detailed Commercial Property information to investors, lenders, brokers, developers, banks and corporates.
Mumbai, India
Joined February 2016
213 Following
2K Followers
858 Posts
🚀 𝗚𝗼𝗼𝗴𝗹𝗲 𝗷𝘂𝘀𝘁 𝗺𝗮𝗱𝗲 𝗮 𝗺𝗮𝘀𝘀𝗶𝘃𝗲 ₹𝟲𝟳𝟭 𝗖𝗥𝗢𝗥𝗘 𝘀𝗽𝗹𝗮𝘀𝗵 𝗶�� 𝘁𝗵𝗲 𝗚𝘂𝗿𝗴𝗮𝗼𝗻 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗺𝗮𝗿𝗸𝗲𝘁! 🏢💥
Google has solidified its long-term commitment to India by leasing a substantial 623,448 sft of prime commercial space at DLF Atrium Place in Gurgaon.
This transaction stands as one of the most significant office lease deals in recent times, highlighting the continuous demand for institutional-grade commercial assets.
Numbers behind this mega-deal:
🔹 𝗧𝗵𝗲 𝗥𝗲𝗻𝘁: A staggering ₹10.55 Crores EVERY SINGLE MONTH to start—escalating by 15% after 3 years to push the total tenure outflow to ₹670.98 Crores!
🔹 𝗧𝗵𝗲 𝗙𝗼𝗼𝘁𝗽𝗿𝗶𝗻𝘁: Taking over a massive vertical campus spanning Floors 2 to 16 in Tower 1.
🔹𝗧𝗵𝗲 𝗙𝘂𝘁𝘂𝗿𝗲 𝗙𝗹𝗲𝘅: They’ve already locked in a "Hard Option" to grab up to two more entire floors in Tower 2 if they need to expand.
Oh, and because it's Google, the tech standard is next-level: 100% power backup with N+1 redundancy, custom digital smart-building integrations, a LEED Platinum certified envelope, and yes... a dedicated clause allowing employees to bring their pet dogs to the office. 🐶💻
Large-scale commitments from global technology leaders serve as a strong endorsement of India's commercial real estate infrastructure and its position as a central hub for scaling global tech talent.
@GauravGupta_RE Media coverage:
Hindustan Times:
https://t.co/ngNa8DIuBA
Big move in Bengaluru's healthcare real estate space!
Manipal Health Enterprises Private Limited has locked in a massive 30 year long-term lease for a multi-speciality hospital facility in Yelahanka where it will pay a rent of ₹816 cr over the tenure.
Key details
🏢 The Property: Multi-Speciality Hospital (3B + G + 10 floors)
📍 Location: Venkatala, Yelahanka, Bangalore
📐 Chargeable Area: 245,000 sq. ft.
🤝 Developer: JKC Varma & Others
🗓️ Lease Start: November 1, 2025
⏳ Tenure: 29 Years & 11 Months (12-year lock-in)
💰 Financial Breakdown:
Starting Rent: ₹1.27 Crores/month (~₹52 / sq. ft. / month)
Security Deposit: ₹7.64 Crores
Escalation Terms: 10% increase in the 6th year, followed by a 15% escalation every 3 years thereafter.
Estimated Total Outlay: ~₹816 Crores over the full tenure.
💬 Raja Seetharaman, cofounder Propstack commented on this-
Historically, healthcare providers generally preferred a heavy-asset model—often choosing to buy land and construct properties directly. However, to rapidly scale up and meet regional bed deficits, we may be seeing a strategic shift where India's top healthcare chains are perhaps pivoting toward an asset-light strategy.
By opting for ultra-long-term, Built-to-Suit (BTS) leases like this 30-year deal, it's possible that hospital operators are looking to avoid multi-year greenfield construction timelines, conserve capital, and potentially channel their resources into cutting-edge medical tech and patient care rather than brick-and-mortar development.
Media Coverage:
Hindustan Times: https://t.co/2R2RV5Fl3v
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Disney Locks in Sprawling Bengaluru Footprint 🚀
Disney (India) Private Limited has picked up nearly 1.75 lakh sq ft of premium Grade-A office space in RMZ Ecoworld in Bellandur- Bengaluru's primary tech corridor.
Key details:
🏢 Building: RMZ Ecoworld Series 20, Bellandur
📐 Chargeable Area: 1,74,959 sq ft
💰 Monthly Rental: ~Rs. 2.01 Crores (Rs. 115/sq ft/month)
⏳ Tenure: 5 Years
📈 Escalation: 15% every 3 years
🔒 Security Deposit: Rs. 12.07 Crores
💎 Total Estimated Rental Outgo: ~Rs. 128 Crores over the 5-year tenure
The Big Picture:
This transaction isn't an isolated event; it underscores a fascinating dual-expansion trend we are seeing across major South Indian micro-markets. While media giant Netflix recently secured over 41,000 sq ft in Hyderabad's HITEC City to anchor its global production and visual effects hub, Disney has opted for a massive scale-up in Bengaluru.
Large-scale commitments like these from global media powerhouses continue to prove that institutional-quality office assets offering scale, premium infrastructure, and proximity to elite tech talent remain in exceptionally high demand.
Media coverage:
Hindustan Times
https://t.co/za9SoLXPYD
businessline
https://t.co/40FhhQgKcw
Media coverage:
Business Standard https://t.co/SMhxMkzOlH
Hindustan Times https://t.co/Yd4zVn0QNO
Mint https://t.co/aRh1GaXFoG
"𝐈𝐧𝐝𝐢𝐚 𝐢𝐬 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐨𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭𝐬 𝐟𝐨𝐫 𝐮𝐬." — Airbnb CEO Brian Chesky
True to its word of playing the long game in the region, Airbnb is significantly expanding its footprint by opening a brand-new Global Capability Center (GCC) in Gurugram. 🚀
The Airbnb Global Capability Center has officially locked in a fresh 5-year lease for over 46,437 sq. ft. of prime, Grade-A office space in Delhi-NCR's most premium commercial hub.
Deal details:
📍 Location: DLF Cybercity - Building No. 5 (Tower A)
📐 Chargeable Area: 46,437 sft (32,506 sft carpet)
⏳ Tenure: 5 Years (with a 5% annual escalation)
💰 Monthly Rent: ₹61.53 Lacs (₹132.5/sft)
🔐 Security Deposit: ₹5.54 Cr
This physical expansion perfectly aligns with the company’s broader strategy. As Brian Chesky recently noted, India houses Airbnb's largest corporate footprint outside the US, and the country is poised for heavy future investments to capture the travel-hungry Gen Z demographic and leverage deep AI capability talent.
Commenting on the transaction, Raja Seetharaman, Co-founder of Propstack, said: "Airbnb's expansion at DLF Cybercity reflects the incredible momentum we are witnessing in India's commercial real estate market. Global Capability Centers (GCCs) have moved completely beyond simple back-offices to become the primary engine driving premium institutional leasing. Tech leaders committing to long-term, high-value leases at over ₹130/sqft proves that the appetite for top-tier, compliant Grade-A infrastructure remains incredibly robust."
🏢LTM Limited (L&T Mindtree) expands massive footprint, leases over 6 lakh sq ft office space in Chennai!
LTM Limited has taken on a large-scale office space at L&T Innovation Campus Tower 2, in a major long-term commercial leasing transaction.
Spread across Ground to 12th floors, the lease reflects the company’s aggressive expansion plans and reinforces Chennai's position as one of India’s leading corporate and technology hubs.
📍 Location: L&T Innovation Campus Tower 2, Mount Poonamallee Road
📐 Chargeable Area: 6,02,101 sq ft
⏳ Tenure: 5 Years
💰 Monthly Rent: ₹4.09 Crores (₹68/sft/month)
📈 Escalation: 12% every 3 years
🔐 Deposit: ₹24.57 Crores
Strategic Highlights:
The large-format office transaction highlights demand for premium Grade-A commercial spaces in Chennai from technology-driven enterprises. L&T Innovation Campus offers modern infrastructure, campus-style development, and strong connectivity to key business districts, making it an attractive destination for large occupiers.
The Bigger Picture: A massive 1.18 Million sq ft Pipeline 📈
This deal does not exist in isolation. In 2024, LTI Mindtree executed a massive 5.85 lakh sq ft lease at the L&T Innovation Campus in Chennai. Combined, the tech giant has locked in nearly 1.2 million sq ft of premium Grade-A workspace.
🗣️ "LTM Limited is cementing its massive footprint with this fresh 5-year lease for 602,101 sq ft at L&T Innovation Campus. Adding this to their 5.85 lakh sq ft deal from 2024 creates a massive capacity pipeline for the company. The structured 12% escalation and phased rent commencement through 2026 show a long-term commitment to structured, sustainable growth." — Raja Seetharaman, Co-founder Propstack
The transaction further underscores sustained confidence in India’s office market and the growing preference for integrated office campuses among large enterprises.
Media coverage:
https://t.co/VK4vc7H2kB
🚀 Zomato leases 1.5 lac sft Bengaluru office in Rs 200 Cr deal!
Eternal Limited (Zomato) is significantly expanding its footprint in India’s tech capital, picking up a massive 1.5 lac sft Grade-A office space at Vaishnavi BVS Senate, Bengaluru.
Demonstrating strong long-term commitment, the food-tech giant has signed a 10-year lease spanning three full floors (7th, 8th, and 9th), driving a total estimated rental outflow of over ₹200 Crores across the tenure.
📍 Location: Vaishnavi BVS Senate, Bengaluru
📐 Chargeable Area: 1,49,700 sft
⏳ Tenure: 10 Years with 15% escalation every 3 years
💰 Monthly Rent: Rs. 1.39 Crores (Rs. 93/sft/month)
Strategic Highlights:
The large-format office lease will strengthen Eternal’s operational footprint in Bengaluru, a leading hub for technology, innovation, and digital businesses. Vaishnavi BVS Senate offers modern Grade-A infrastructure along with strong connectivity to key business districts and talent hubs. The sizeable long-term commitment by Eternal underscores continued confidence in India’s office market and the growing demand from new-age technology-driven companies for premium workspaces.
Media Coverage
Hindustan Times
https://t.co/wnsZLP9qAj
Smartworks leases 2 lac sft office space in Bengaluru
Smartworks Co-working Spaces Limited has taken on lease a large commercial office facility located on Sarjapur Main Road, Ambalipura, Bengaluru. Spread across Basement, Ground, 1st, 2nd, 3rd, 4th floors and Terrace, this transaction reflects the growing demand for managed office spaces in Bengaluru’s prime business corridors and highlights Smartworks’ continued expansion in India’s flexible workspace segment. The lease commenced in April 2025 and was subsequently registered in April 2026. Zepto is already operating from this space.
📍 Location: 773, Sarjapur Main Rd, Ambalipura, Bengaluru
📐 Chargeable Area: 2,00,000 sft
⏳ Tenure: 6 Years with 10% escalation every 2 years
💰 Monthly Rent: Rs. 1.94 Crores (Rs. 97/sft/month)
Strategic Highlights:
The large-format office space will strengthen Smartworks’ presence in Bengaluru, one of India’s leading technology and commercial hubs. Located on the prominent Sarjapur Main Road, the property offers strong connectivity to major IT parks, residential hubs, and business districts. The long-term lease underscores the sustained growth of the flexible workspace industry and increasing demand from enterprises for managed office solutions.
Media Coverage
Hindustan Times
https://t.co/UT4mvnrfN4
Nissin ABC Logistics leases 3.85 lac sft warehouse in Haryana
Nissin ABC Logistics Private Limited has taken on lease a large warehouse facility located at Village Kulana on the Jhajjar-Rewari Road, Haryana. This fresh transaction highlights the continued demand for Grade-A logistics infrastructure in the NCR region and reinforces the company’s focus on strengthening its supply chain network in North India.
📍 Location: Village Kulana, Jhajjar-Rewari Road, Haryana
📐 Chargeable Area: 3,85,704 sft
⏳ Tenure: 5 Years with 5% annual escalation
💰 Monthly Rent: Rs. 65.57 Lacs (Rs. 17/sft/month)
Strategic Highlights:
The large-format warehouse will support Nissin ABC Logistics’ growing operational and distribution requirements across North India. Its strategic location near key industrial and transportation corridors enhances connectivity and enables efficient movement of goods. The long-term lease reflects sustained confidence in Haryana’s warehousing and logistics ecosystem.
Media Coverage
Hindustan Times
https://t.co/qwrpWnqLZL
Intuit leases 6.32 lac sft at Embassy Tech Village in Bengaluru!
Intuit India Product Development Centre Private Limited has leased a massive office space at Embassy Tech Village – Block 8A, B & C, further reinforcing Bengaluru’s position as India’s leading technology and GCC hub.
The company has taken up space from Ground to 10th floor under a long-term lease tenure of 10 years, reflecting its continued expansion and long-term commitment towards strengthening its India operations.
Key Deal Highlights
📍 Location: Embassy Tech Village – Block 8A, B & C, Bengaluru
📐 Chargeable Area: 6,31,978 sft
⏳ Tenure: 10 years with 15% escalation every 3 years
💰 Monthly Rent: Rs. 6.13 Crs (Rs. 97/sft/month)
Strategic Highlights
The large-scale transaction highlights the sustained demand for premium Grade A office spaces from global technology occupiers in Bengaluru.
With a long-term commitment and significant footprint across multiple floors, the lease underscores Intuit’s confidence in India’s talent ecosystem and the growing importance of Bengaluru as a strategic innovation and product development center.
The deal further strengthens Embassy Tech Village’s position as one of the preferred campuses for leading multinational technology companies.
Media Coverage
Hindustan Times
https://t.co/ffSfORI557
Mega GCC deals!
Uber leases 9 lakh sq ft+ in #Hyderabad through a 10-year #deal, with total #rental commitment of nearly Rs 839 cr https://t.co/2lrtp3zTg5 @EconomicTimes #RealEstate #CRE #CommercialRealEstate #Property #Finance
Global financial powerhouse Nomura has finalized a 10-year lease for two floors in the Altimus at Worli with a total rent outflow of ₹421 Cr over the lease term.
Key Deal Highlights:
📍 Building: Altimus, Worli
🏢 Floor: 26th & 27th Floors
📐 Chargeable Area: 64,130 sq. ft
💰 Rent: ₹2.79 Crores/month
💵 Rate: ₹435 psf
📈 Escalation: 5% annual escalation
⏳ Tenure: 10 Years
At ₹435 psf, this deal significantly exceeds the Worli micro-market average of ₹300 psf, highlighting the premium commanded by Altimus—which also houses companies like UBS, KKR, Barclays, Blackrock and 360 One.
This transaction underscores the continued demand for premium office spaces in Worli and the long-term confidence global financial institutions have in India’s commercial infrastructure.
Media coverage:
@bsindia
https://t.co/yYG7gFQtqe
🚖 Uber just signed one of Hyderabad's biggest office deals — ₹839 Cr over 10 years!
Uber India has leased 9.01 lakh sft across 10 floors (11–20) at Meenakshi Eco Park – Tower 1 in Hyderabad, in one of the largest single-occupier office transactions the city has seen this year further strengthening Hyderabad’s position as one of India’s leading technology and GCC destinations.
Key Deal Highlights
📍 Asset: Meenakshi Eco Park – Tower 1
📐 Chargeable area: 9,01,115 sft | Carpet: 7,29,471 sft
💰 Rate: ₹65/sft/month
🗓️ Tenure: 10 years
📈 Escalation: 15% every 3 years
💵 Monthly rent: ₹5.86 Cr → ~₹839 Cr total commitment
🔓 Hard option for an additional 5 lakh sft by Q1 2028
Two things stand out:
1️⃣ Scale of commitment — a ten-floor, decade-long lease at this rate reflects deep conviction in Hyderabad as a core engineering and product hub.
2️⃣ The expansion option — a hard 5 lakh sft option by Q1 2028 signals Uber is planning material headcount growth in India, not just consolidation.
Raja Seetharaman, co-founder of Propstack, said Uber’s 9 lakh square feet commitment at Meenakshi Eco Park is one of the largest single office leases Hyderabad has seen in this cycle and reinforces the city’s position as a preferred destination for global capability centres scaling their India footprint.
@Uber @Meenakshi_Hyd
Media Coverage:
@moneycontrolcom https://t.co/LJ7S12GBet
🚀NSE inks 80-year lease with MMRDA for 2.7-acre BKC land for Rs 1,684 Cr
The National Stock Exchange of India (NSE) is significantly expanding its footprint in India’s premier central business district. NSE has finalized the lease for two amalgamated plots in the G Block of Bandra Kurla Complex (BKC) for a total premium of ₹1,684.31 Cr.
This landmark deal with the MMRDA consolidates Plot Nos. C-81 and C-82 to create a massive development site for the exchange’s future operations.
Deal Breakdown:
Property: Amalgamated Plot No. 81 & 82, G Block, BKC, Mumbai
Total Premium: ₹1,684,31,60,000 (~₹1,84 Cr)
Plot Area: 10,995 sq. mtr (approx. 2.3 acres, 1.1 lakh sq. ft.)
Max Permissible BUA: 43,980 sq. mtr (approx. 4.7 lakh sq. ft.)
Tenure: 80-year lease
Stamp Duty Paid: ₹75.79 Cr
The consolidation follows a phased acquisition: Plot C-82 was initially secured in March 2025 for ₹757.90 Cr , with the lease premium later revised to ₹833.69 Cr. Plot C-81 was subsequently allotted in December 2025 for ₹850.62 Cr.
Raja Seetharaman, cofounder of Propstack- This ₹1,684 crore deal underscores BKC’s status as India's premier financial hub. By securing nearly 11,000 sq. mtrs for its future growth, the NSE is solidifying the essential infrastructure required for the evolution of Indian capital markets. This transaction is a strong indicator of the long-term institutional confidence in Mumbai's commercial real estate.
Media coverage:
The Economic Times
https://t.co/u43o2d6pFo
Hindustan Times
https://t.co/e60ZUAELTX
Moneycontrol
https://t.co/DJOJySWitv
Boston Scientific leases 1.3 lac sft in Pune!
Boston Scientific Technology and Engineering Services Private Limited has leased a large office space at Eon West LP II, Tower D, Wakad, Pune, further strengthening Pune’s position as a leading hub for technology and engineering occupiers.
The company has leased floors 6 and 7 with a long-term tenure of 9.5 years, reflecting its continued expansion and commitment towards strengthening operations in India.
Key Deal Highlights
📍 Location: Eon West LP II, Tower D, Wakad, Pune
📐 Chargeable Area: 1,30,682 sft
⏳ Tenure: 9.5 years with 15% escalation every 3 Years
💰 Monthly Rent: Rs. 86.58 Lacs (Rs. 66.25/sft/month)
Strategic Highlights
The long-term lease tenure along with a hard option to lease the 8th floor until March 2027 indicates Boston Scientific’s future growth plans and expansion flexibility within the same campus.
The transaction further highlights the growing demand for premium office spaces in Wakad, Pune from global healthcare and technology companies.
Media Coverage:
Hindustan Times
https://t.co/JNgpmhOOiK
The Economic Times
https://t.co/8DHOYSnEPf
🔥One of India’s Costliest Office Deals!!
McKinsey & Company has renewed its 35,520 sft office space at Maker Maxity in BKC for a 10 year period, reinforcing strong demand for Grade-A office spaces and the asset’s position as a preferred hub for global occupiers due to its prime location and corporate ecosystem.
Key Deal Highlights
📍 Location: Maker Maxity (1 North Avenue), BKC, Mumbai
📐 Chargeable Area: 35,520 sft
⏳ Tenure: 10 years with 5% escalation annually
💰 Monthly Rent: ₹2.58 Cr
* Rs. 759/sft/month (Ground floor)
* Rs. 705/sft/month (2nd & 9th floors)
Additionally, McKinsey & Company continues to occupy 21,582 sq ft across the third and tenth floors of this building.
🏢 Mckinsey deal among the Top 5 Deals
Recent leasing activity in BKC highlights strong demand for premium office spaces.
* Tesla – 4,003 sft @ ₹881/sft (Maker Maxity 2 in 2025)
* Optiver India – 22,500 sft @ ₹822/sft (FIFC in 2024)
* BNP Paribas – 3,497 sft @ ₹811/sft (Maker Maxity 1 in Feb 2025)
* Qatar National Bank – 8,079 sft @ ₹775/sft (Maker Maxity 4 in Oct 2025)
* Apple Inc. – 6,526 sft @ ₹739/sft (Maker Maxity 5, Dec 2024)
BKC remains among the country’s most expensive commercial districts, driven by proximity to financial institutions and continued demand from multinational corporations, financial services firms and global capability centres.
Media Coverage:
The Economic Times
https://t.co/s8byXEFWWl
Hindustan Times
https://t.co/Qh5O7MAI7O
Concentrix leases 1.6 Lac sft office space in Gurgaon.
Gurgaon continues to strengthen its position as a key IT/ITeS hub. Concentrix Daksh Services India Private Limited has leased a significant office space at JSK Tower, Sector 32, marking another notable transaction in the city.
This deal highlights strong demand for Grade-A offices, with Sector 32 offering excellent connectivity and access to a skilled workforce making it a preferred choice for large occupiers.
Key Deal Highlights
📍 Location: JSK Tower, Sector 32, Gurgaon
📐 Chargeable Area: 1,61,058 sft
⏳ Tenure: 5 years with 15% escalation every 3 years
💰 Monthly Rent: Rs. 1.53 Cr (Rs. 95/sft/month)
💬 Industry Perspective
Raja Seetharaman, Co-founder, Propstack, commented that Concentrix Daksh’s commitment to 1.6 lac sft of office space in Gurgaon’s Sector 32 is a powerful signal for the commercial real estate market. Despite the rapid rise of AI-driven automation, this expansion by a global customer experience leader highlights that physical infrastructure remains a mechanical necessity for scaling sophisticated operations.
Media coverage
@htTweets
https://t.co/ZmYpeH5Ega
🚀 Pune’s GCC Momentum Reaches a New Peak: BP Seals Landmark 10.4 Lakh sft Deal!
Pune is firmly establishing itself as the powerhouse for Global Capability Centers (GCCs) in India. The latest testament to this growth is BP Business Solutions India Private Limited securing a massive office footprint at Gera Commerzone R2, Kharadi with a rental commitment of Rs 1,258 Cr over the 10 year lease period.
This isn't just a lease; it’s a high-conviction bet on Pune’s talent and infrastructure. Spanning 6 podiums and 12 office floors, this transaction stands as one of the largest commercial real estate commitments in the city’s history.
Key Deal Highlights
📍 Location: Gera Commerzone R2, Kharadi, Pune
📐 Chargeable Area: 10,40,542 sft
⏳ Tenure: 10 years (120 Month) with 4.5% Escalation every year
💰 Total Commitment: Rs. 1,258 Crores (Total rent over the 10-year tenure)
💵 Starting Monthly Rent: Rs. 8.53 Cr (~Rs. 82/sft)
Strategic Highlights
Scale & Synergy: By securing a massive contiguous space, BP is positioned for seamless operational efficiency and team consolidation, a key trend among evolving GCCs.
Kharadi’s Dominance: This deal reinforces Kharadi as the preferred destination for global occupiers, offering the premium Grade-A infrastructure required by Fortune 500 companies.
Pune’s Value Proposition: At a starting rent of Rs. 82/sft/month, Pune continues to offer a compelling mix of high-quality workspace and scalability compared to other Tier-1 metros.
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