IBM Signs 10 Year Lease for Office Space at Tata Realty’s Intellion Park in Gurugram

US technology major IBM has expanded its office footprint in the National Capital Region after entering into a long-term lease agreement at a premium commercial property in Gurugram. 

Lease Details and Rental Economics 

IBM has taken on lease a chargeable area of 230,378 square feet at Intellion Park in Sector 59, Gurugram, which is owned by Tata Realty and Infrastructure. The leased premises span from the seventh to the 12th floor of Tower 4 at the property.  

As per transaction documents accessed through Propstack, the company will pay a monthly rent of ₹1.25 crore, translating into a rental rate of ₹54.5 per square foot. The lease tenure is 10 years, taking the total rental commitment to more than ₹180 crore. 

Office Market Trends and Occupancy Indicators 

The transaction comes amid sustained demand for office space across India’s tier-I cities. According to a report by workplace solutions firm Vestian, office absorption in 2025 has continued to exceed new supply, resulting in improved occupancy levels.  

Pan-India vacancy declined by 310 basis points, from 13.9% in 2024 to 10.8% in 2025. The market has been supported by the addition of new global capability centres, growth in flexible workspace operators, a rise in unicorn start-ups and ongoing expansion by large technology companies. 

Other Large Deals and Regional Leasing Activity 

Intellion Park has witnessed several high-value leasing transactions in recent months. Eternal Limited’s food services company Zomato has leased more than 270,000 square feet at the property, while US-based networking and software firm Ciena previously took 135,000 square feet. Google is also among the occupiers at the campus.  

Read More: JP Morgan's ₹5,200 Crore Bet on Mumbai: 13 Lakh Sq Ft Built-to-Suit Office in Powai! 

Conclusion 

IBM’s long-term lease at Intellion Park underscores continued demand for large, high-quality office spaces in Gurugram, supported by improving occupancy levels and strong leasing momentum across the Delhi NCR region. 

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