IBM India Commits to Major Gurugram Office Expansion with ₹180 Crore Lease
In a significant real estate transaction, IBM India Pvt. Ltd has entered into a substantial 10-year lease agreement for office space exceeding 230,000 square feet at Intellion Park in Gurugram's Sector 59. The total rental outlay for this long-term commitment stands at an impressive ₹180 crore, underscoring the technology giant's expanding footprint in India's National Capital Region.
Lease Details and Financial Terms
According to documents accessed by real estate data analytics platform Propstack, the lease deed was formally signed in December. Under the agreement, IBM will pay a monthly rent of ₹1.25 crore for the office space spread across six floors. The contract includes a 15% rental escalation clause every three years, which is a standard feature in long-term commercial leases to account for inflation and market appreciation.
Property and Landlord Information
The leased space is owned by Mikado Realtors Pvt. Ltd, a company promoted by Tata Realty and Infrastructure Ltd (TRIL). Intellion Park itself is a campus-style information technology and IT-enabled services special economic zone, sprawling across 25 acres in Gurugram. This transaction follows another major lease at the same property, where food delivery service Zomato recently secured over 270,000 square feet of office space.
Market Significance and Expert Commentary
Raja Seetharaman, co-founder of Propstack, highlighted the importance of this transaction: "Intellion continues to attract quality clients with large space requirements in the NCR. First Zomato, and now IBM—that's 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."
IBM's Expanding Indian Footprint
This Gurugram lease represents part of IBM India's broader office expansion strategy across the country:
- In the previous year, the company leased 161,884 square feet at the Pine Valley building in Embassy Golflinks Business Park, Bengaluru, with a rental commitment of approximately ₹145 crore for a 60-month term.
- During 2025, IBM India also secured around 110,000 square feet of office space from managed workspace provider Table Space in Bengaluru.
Broader Market Context
The transaction occurs against a backdrop of robust office leasing activity across India's major cities. According to property advisory CBRE India, technology companies and flexible workspace operators led office absorption in 2025, which reached a record high of 82.6 million square feet in gross leasing across India's top nine cities. This represents an increase from 79 million square feet recorded in 2024, indicating sustained demand for premium office spaces despite broader economic fluctuations.
When contacted for comment, an IBM India spokesperson did not respond to queries, while a TRIL spokesperson declined to discuss the specific transaction details. The deal nevertheless signals continued confidence in India's commercial real estate market from global technology leaders seeking strategic long-term office consolidation.
