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IndiQube Leases 1.5 Lakh Sq Ft in Chennai
15 Jun
Summary
- IndiQube leased over 1.5 lakh sq ft office space in Perungudi, Chennai.
- The 15-year lease agreement has a monthly rent of ₹64 per sq ft.
- Total rental commitment is approximately ₹235 crore with 15% escalation every three years.
Flexible workspace operator IndiQube has secured a substantial office space of over 1.5 lakh square feet in Perungudi, Chennai. This new lease agreement for 151,462 sq ft in SRH Experience Tower commenced on March 9, 2026.
The leased premises span multiple levels, from the ground floor up to the 11th. The monthly rent is set at ₹64 per sq ft, amounting to approximately ₹96.6 lakh per month. IndiQube's total rental commitment over the 15-year lease tenure is estimated at around ₹235 crore.
The agreement includes a 15 percent escalation in rentals every three years. IndiQube has also provided a security deposit of approximately ₹7.73 crore. This expansion reflects the aggressive growth of managed workspace providers amid rising demand for flexible office solutions.
Perungudi, situated on Chennai's OMR corridor, has become a key office market due to demand from technology companies and Global Capability Centres. Chennai's office leasing activity has remained steady, supported by the IT and technology sectors.
