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German-based IT services company Nagarro Enterprise Services Pvt Ltd has leased a massive 7 lakh sq ft of office space in Udyog Vihar, Gurugram marking one of the city's most significant commercial property deals in recent months. The lease spans 12 years with a three-year lock-in clause, at a monthly rent of INR 2.90 crore. The property, developed by Chimera Developers LLP, includes basement areas, five levels of parking, and upper office floors. With a rent escalation clause of 12% every three years and an INR 10 crore security deposit, the agreement reflects Nagarro's long-term operational commitment in India.
German-headquartered IT firm Nagarro Enterprise Services Pvt Ltd has taken a significant step in reinforcing its presence in India by securing over 7 lakh sq ft of office space in Gurugram's Udyog Vihar, Sector 18. The long-term lease agreement commenced earlier this year and spans 12 years, incorporating a three-year lock-in period. Advertisement
The leased premises are part of a commercial development by Chimera Developers LLP, a lesser-known but emerging name in the Gurugram real estate landscape. The property allocated to Nagarro includes the basement area, five dedicated parking levels, and floors six to fourteen of the building.
Under the terms of the agreement, Nagarro has committed to paying a monthly rent of INR 2.90 crore. In addition, the IT company has deposited INR 10 crore as a security amount. The registration of the lease involved a stamp duty payment of INR 2.49 crore, showcasing the high-value nature of the transaction. The lease also includes a rent escalation clause, whereby the rental amount will be increased by 12% every three years.
The transaction highlights the continued attraction of Udyog Vihar for large-scale commercial occupiers. Its strategic location near Delhi, robust infrastructure, and well-established commercial ecosystem have made it a preferred destination for multinational corporations and IT giants. Gurugram has been a hub for similar high-value lease transactions in recent times, with firms aiming to consolidate their operations in high-capacity campuses rather than fragmented office spaces.
Nagarro, which has a significant global footprint and a strong presence in India, appears to be deepening its roots in the National Capital Region with this latest expansion. Although the firm has not issued an official comment, people aware of the development noted that the large floor plate, connectivity, and scope for customisation made the Udyog Vihar property an ideal choice for the company.
Earlier in 2023, several large leasing deals in Gurugram, including those by Google and EY, had already underscored the city's continued dominance in the NCR's office space market. Nagarro's latest deal adds to that momentum, reaffirming the city's growing stature as a hub for technology and service-based enterprises.
The preference for Grade-A office infrastructure with large, contiguous floor plates has been growing, and this deal validates Udyog Vihar's appeal as a prime commercial micro-market. As Gurugram continues to draw high-value tenants, the region appears well-positioned for sustained growth in the years ahead.
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