{"id":2155,"date":"2026-06-16T12:57:02","date_gmt":"2026-06-16T07:27:02","guid":{"rendered":"https:\/\/www.nobroker.in\/news\/?p=2155"},"modified":"2026-06-16T12:57:02","modified_gmt":"2026-06-16T07:27:02","slug":"office-leasing-market-indiqube-spaces-leases-1-5-sq-ft-office-space-in-chennai","status":"publish","type":"post","link":"https:\/\/www.nobroker.in\/news\/tamil-nadu\/chennai\/office-leasing-market-indiqube-spaces-leases-1-5-sq-ft-office-space-in-chennai\/","title":{"rendered":"Office Leasing Market: IndiQube Spaces Leases 1.5 Sq ft Office Space in Chennai"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">IndiQube Spaces Limited is an Indian managed workplace and coworking solutions company. It has leased over 1.5 lakh sq ft of office space in Perungudi, Chennai.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the sources, the company has taken 1,51,462 sq ft of office space in SRH Experience Tower from SRH Mota Star Promoters Pvt Ltd. The lease agreement commenced on March 9, 2026.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Further, the lease agreement comprises the ground floor and floors up to the 11th level, including the 2B floor with a monthly rent of \u20b964 per sq ft, totaling a monthly rent of about \u20b996.6 lakh. The lease tenure is over 15 years with an estimated rent of around \u20b9235 Cr, including the escalations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The lease agreement provides for a 15% escalation in rentals every three years. In addition, as part of the transaction, IndiQube has deposited a security deposit of approximately \u20b97.73 Cr.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, as of March 2026, about 9.66 million square feet of IndiQube space were available in 17 cities across the country. With a 37% year-on-year increase, its revenue for FY26 was \u20b91,469 Cr.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the location Perungudi near Chennai\u2019s Old Mahabalipuram Road (OMR) corridor has transformed and emerged into a prominent office market due to the strong tech companies, Global Capability Centres (GCCs), and flexible workspace operators.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the Cushman and Wakefield report, in Q1 2026, Chennai\u2019s office market posted a Gross Leasing Volume (GLV) of 1.66 million square feet (MSF). Peripheral South-west led the quarter with a 31% share, followed by Peripheral South at 25%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The transaction highlights how Chennai has witnessed a steady leading activity over the last few quarters, due to sustained demand in the IT and technology sectors.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Sourced from Business Line.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IndiQube Spaces Limited is an Indian managed workplace and coworking solutions company. It has leased over 1.5 lakh sq ft of office space in Perungudi, Chennai. According to the sources, the company has taken 1,51,462 sq ft of office space in SRH Experience Tower from SRH Mota Star Promoters Pvt Ltd. The lease agreement commenced [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":2156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-2155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chennai"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Office Leasing Market: IndiQube Spaces Leases 1.5 Sq ft Office Space in Chennai<\/title>\n<meta name=\"description\" content=\"IndiQube Spaces Limited has leased over 1.5 lakh sq ft. 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