Cognizant Leases 6.45 Lakh Sq Ft Office Space in Chennai for ₹303 Crore

IT services major Cognizant Technology Solutions India Private Limited has leased approximately 6.45 lakh square feet of office space at Embassy Splendid TechZone in Pallavaram, Chennai, for a total rental commitment of around ₹303 crore, according to property registration data accessed by Propstack.

Five-Year Lease Covers 10 Floors

The lease commenced on September 10, 2026, and has a tenure of five years. The agreement covers a chargeable area of 645,172 square feet across 10 floors, with a monthly rental rate of ₹74 per square foot.

Based on the contracted rate, the monthly rent works out to approximately ₹4.77 crore. The agreement also includes a security deposit of ₹28.64 crore, according to the registration documents.

Rental Escalation Clause Included

The property is owned by ESNP Property Builders and Developers Private Limited, associated with Embassy REIT, which is the landlord in the transaction.

The lease agreement includes a rental escalation clause of 15% every three years, allowing the rent to increase according to the agreed terms during the lease period.

Pallavaram Strengthens Chennai`s Office Market

Embassy Splendid TechZone is a commercial development located in Pallavaram, part of Chennai`s expanding office market.

Large office leases by technology companies are closely tracked by the commercial real estate sector as indicators of corporate space requirements, occupier demand and leasing activity. Cognizant`s latest transaction adds another significant office leasing deal to Chennai`s commercial property landscape.