Tcs Leases 6.3 Lakh Sq Ft In Chennai's Omr, Signs 10-Year Deal At ₹2.8 Crore A Month
Tata Consultancy Services (TCS) has signed a major lease deal in Chennai, taking up 6.3 lakh square feet of office space at Ozone Techno Park in Navalur, a fast-growing part of the city's IT corridor along Old Mahabalipuram Road (OMR). The monthly rent for this space is ₹2.8 crore, and the lease will run for 10 years, starting from March 15, 2025.
This shows strong demand for office space in Chennai, especially in key areas like OMR. At the same time, residential areas nearby—such as Pallavaram, home to projects like Prestige Pallavaram Gardens —are also seeing more interest from buyers who want to live closer to major tech offices.
- Company: Tata Consultancy Services (TCS)
- Space: 6.3 lakh sq ft, across 7 floors
- Monthly Rent: ₹2.8 crore
- Rent Rate: ₹45 per sq ft
- Lease Period: 10 years
- Lock-in Time: 3 years (until March 2028)
- Start Date: March 15, 2025
- Deposit Paid: ₹25.5 crore
- Parking: 631 slots
- Landlord: Platinum Holdings Pvt. Ltd.
- Rent Increase: 12% every 3 years
This is one of the biggest office leasing deals signed in Chennai this year.
TCS's new lease is a sign that big companies still see Chennai as a strong place to grow. While many firms are cutting down on office space in other cities, Chennai seems to be an exception.
Navalur and the broader OMR stretch remain hot spots for IT companies. These areas are well-connected, offer modern buildings, and are close to top talent. With new metro lines coming soon, this part of the city is expected to grow even faster.
This is not the only big transaction in the city this year:
- Walmart leased 4.6 lakh sq ft in International Tech Park in January for ₹3.26 crore a month.
- Cognizant sold its headquarters in Thoraipakkam to Bagmane Constructions for ₹612 crore in March.
- LTI Mindtree leased 5.85 lakh sq ft in Manapakkam last August for ₹3.98 crore per month.
These deals prove that Chennai continues to attract both Indian and global companies.
As more companies move into OMR, people working there are looking for homes nearby. Areas like Pallavaram, connected by the Pallavaram-Thuraipakkam Road, are becoming top choices. Projects like Prestige Pallavaram Gardens offer good housing options for IT employees who want shorter commutes and better living conditions.
Improving infrastructure and better road connectivity are making South Chennai one of the fastest-growing real estate zones.
TCS leasing over 6 lakh square feet in OMR is a clear signal: Chennai's office market is strong and growing. Big IT deals like this one, along with new housing projects in areas like Pallavaram, show that the city is ready for the next phase of growth in both commercial and residential real estate.
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