IBM Signs 10-Year, ₹180 Crore Office Lease at Tata Realty's Intellion Park, Gurugram

IBM Anchors 2.3 Lakh Sq Ft at Intellion Park with Decade-Long Commitment

IBM has leased 230,000 square feet of office space at Tata Realty and Infrastructure's Intellion Park in Sector 59, Gurugram. The company is taking space from the seventh to the 12th floor of Intellion Park's Tower 4, with the lease agreement applicable for 10 years and a total rental spend of over ₹180 crore.

Lease Structure and Financial Terms

IBM has taken a chargeable area of 2,30,378 sq ft at a monthly rent of ₹1.25 crore, translating to ₹54.5 per sq ft per month. The lease commenced on September 22, 2025. The lease agreement provides for a 15% rent escalation every three years, while IBM has paid a security deposit of ₹18.43 crore.

Beyond the core office space, the transaction extends to operational infrastructure. The lease includes 307 car parking spaces and 150 seats in the food courts of Towers 3 and 4. These allocations reflect the scale of IBM's occupancy within the broader campus and its requirements for a consolidated workforce base.

Intellion Park's Emerging Profile in Delhi-NCR

Intellion Park is a Grade A office campus located in Sector 59. The park comprises seven towers: Tower S, Tower 1, Tower 2, Tower 3, Tower 4, Tower 5, and Tower 6. It is LEED Pre-Certified and GRIHA 5 Star Pre-Certified for IT/ITeS/SEZ purposes.

The campus is strategically situated on Golf Course Extension Road, one of Gurugram's prime commercial corridors. It ensures easy access to Sector 55-56 Rapid Metro Station and is well-connected to major micro-markets, and is surrounded by 5-star hotels, hospitals, and malls within a 3-10 km radius.

IBM's decade-long commitment follows recent large-scale leasing activity at the same location. Zomato and IBM together account for 0.5 million square feet absorbed by just two tenants, with IBM's 10-year lease highlighting the continued appetite for large floor plates and long-term consolidation in NCR's premium office corridors. The park also counts Google and other occupiers among its tenants.

Landlord and Developer Context

The lease has been signed with Mikado Realtors Private Limited, a Tata Group Company (Tata Realty and Infrastructure Ltd), as the landlord. Mikado Realtors is jointly held by Tata Realty and Infrastructure Limited, which has 74% stake. The project is developed by Tata Realty & Infrastructure Limited (TRIL), the real estate arm of the Tata Group, known for delivering high-quality commercial projects with sustainable design, strong construction standards and long-term asset value.

Market Signals for Delhi-NCR Office Leasing

Delhi NCR recorded gross leasing volume of 5.1 million square feet in the September quarter, a 56 per cent year-on-year growth. In NCR, Gurugram accounted for 72 per cent of the leasing, followed by Noida at 24 per cent and Delhi sub-markets at 4 per cent.

IBM's choice of a 10-year tenure reflects shifting corporate strategy in India. Large global firms continue to commit to medium-to-long term occupancy, signaling sustained workforce planning and operational consolidation in premium Delhi-NCR corridors despite evolving work patterns.