Gurugram real estate update: Nagarro Enterprise Services Pvt Ltd has leased the commercial space spread across an area of 7 lakh sq ft for 12 years.

Nagarro Enterprise Services Pvt Ltd, a German IT services firm, has leased more than seven lakh sq ft in Gurugram’s Sector 18 for a monthly rent of ₹2.90 crore, according to property registration documents accessed by Propstack.

Documents show that the commercial space has been leased in the Udyog Vihar area of Gurugram, Sector 18, in a property constructed by Chimera Developers LLP.

According to the documents, the property leased is spread across the basement, five parking floors, and from the sixth floor to the 14th floor.

The lease commencement date is January 1, 2025, and the total lease period is 12 years. According to the documents, the lock-in period for the lease agreement is three years.

The security deposit paid for the property measuring a total of 7.06 lakh sq ft is ₹10 crore, the documents showed.

The transaction was completed on April 17, with a stamp duty payment of ₹2.49 crore.

The agreement includes a clause for a 12% rent escalation every three years.

Queries have been sent to Nagarro Enterprise Services Pvt Ltd. The story will be updated if a response is received. Chimera Developers LLP could not be reached for comment.

Office rentals

Office rentals across India’s top seven cities recorded a year-on-year increase of 4% to 8% in 2024, reflecting strong demand in the commercial real estate segment, according to a report released in April 2025 by real estate consultancy Vestian.

The report attributes the surge in rentals to India’s robust economic performance, growing urbanisation, and an expanding base of global companies seeking high-quality office spaces. On the other hand, eight key global office markets showed a mixed trend in rental movement during the same period.

In India, Delhi registered the highest annual increase in office rent among major cities, rising 8.2% to $ 0.9 per sq ft per month.

According to the report, Mumbai followed Delhi with a 6.7% jump to $1.6 per sq ft. Chennai saw a 7.7% hike to $0.8 per sq ft, while Bengaluru posted a 4.7% increase to $1.1 per sq ft. Among international markets, office rents declined in several major cities. New York saw a 1.3% dip in average office rent, settling at $7.5 per sq ft per month.

source/content: hindustantimes.com (headline edited)