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EY Global Delivery Services India LLP has signed a five-year lease for about 1.72 lakh sq ft of office space at Embassy Oxygen Business Park in Sector 144, Noida, at a monthly rent of around INR 98.52 lakh, according to property registration documents. The leased space spans four floors including part of the podium and the second, third and fourth floors and reflects continued strong demand for Grade A office space from global consultancies and capability centres in the Delhi-NCR region. The lease commenced mid-2025 and includes a security deposit of INR 5.91 crore and a 15% rent escalation after three years. Industry experts say this transaction highlights Noida's growing appeal as an office location, driven by improving infrastructure, proximity to the Noida-Greater Noida Expressway and expanding lease activity across the market
EY Global Delivery Services India LLP has secured a significant office lease in Noida's commercial property market, agreeing a five-year rental arrangement for approximately 1.72 lakh sq ft of space at Embassy Oxygen Business Park in Sector 144. The monthly rent under the lease is recorded at about INR 98.52 lakh, according to property registration documents accessed via Propstack. Advertisement
The leased premises are situated in Tower 2 of Embassy Oxygen and cover four separate areas: around 37,508 sq ft of super built-up space on the podium level, about 42,160 sq ft on the second floor, and roughly 46,583 sq ft each on the third and fourth floors. The lease tenure runs from 1 July 2025 to 30 June 2030. In addition to the rental obligations, EY GDS has paid a security deposit of INR 5.91 crore and a stamp duty of INR 1.33 crore, with the agreement providing for a rent escalation of 15% after three years.
The deal underscores a strong sentiment among large global capability centres and consulting firms for quality office assets in Noida, particularly in well-connected locations such as the Noida-Greater Noida Expressway corridor. Embassy Oxygen Business Park is a Grade A office park spread across about 25 acres and features one of the largest office stock clusters in the city, attracting multinational tenants across sectors. Current occupiers at the park include global names in technology, life sciences and industrial services.
Real estate experts note that the Noida and Greater Noida office markets have seen heightened leasing activity, supported by improving infrastructure links, upcoming civic projects and large corporate expansions. According to recent industry data, the Delhi-NCR office market recorded a significant increase in net leasing activity in 2025, buoyed by demand from global capability centres, technology firms, and financial services players. This increased absorption trend has reinforced confidence among landlords and developers in the region's office asset class.
The EY GDS lease adds to a series of large office transactions in the NCR, reflecting occupier interest in quality space outside traditional located cores. Analysts say such leases are helping to deepen Noida's appeal as a preferred destination for multinational occupiers looking for scalable, well-connected commercial space across India's premier office markets.
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