IBM takes Gurugram office on 10-year lease for ₹180 crore

Bengaluru: IBM India Pvt. Ltd has signed a 10-year lease for over 230,000 sq ft of office space spread over six floors at Intellion Park in Gurugram’s Sector 59. ₹180 crore.

Global technology giant will pay monthly rent ₹1.25 crore with 15% rent increase every three years. According to documents accessed by real estate data analysis platform Propstack, the lease agreement was signed in December.

IBM leased the space from Mikado Realtors Pvt. Ltd., backed by Tata Realty and Infrastructure Ltd (TRIL), documents showed.

Intellion Park in Gurugram is a campus-style information technology (IT)/ITeS enabled special economic zone spread over 25 acres.

In another major leasing transaction, Eternal Ltd’s food delivery service company Zomato recently leased over 270,000 sq ft of office space at TRIL’s Intellion Park Gurugram.

“Intellion continues to attract quality customers with large space requirements in NCR. First Zomato and now IBM; this is a 0.5 million sq ft space occupied by just two tenants. IBM’s lease with a total cost of 10 years ₹“180 crore underlines the continued appetite for large floor plates and long-term consolidation in NCR’s premium office corridors,” said Raja Seetharaman, co-founder of Propstack.

IBM India spokesperson did not respond Mint‘s query. TRIL spokesperson declined to comment on the transaction.

IBM India has been steadily expanding its office space in the country.

Last year, the area leased from Golflinks Software Park Pvt. was 161,884 sq.ft. Ltd. at the Pine Valley building in Embassy Golflinks Business Park, Bengaluru. The business park is owned by Embassy REIT and a local partner. IBM will pay roughly ₹145 crore rent for 60 months lease period.

In 2025, IBM India also leased around 110,000 sq ft of office space from Table Space, a managed workspace provider in Bengaluru.

Technology companies and flexible workspace operators led office absorption activity in 2025, reaching a record high of 82.6 million sq ft (in gross rental) across India’s nine largest cities, compared to 79 million sq ft in 2024, according to real estate consultancy CBRE India.