Zomato leases 270,000 sq ft office in Gurugram's Intellion Park

Zomato has leased over 270,000 sq ft of office space at Tata Realty's Intellion Park in Gurugram at a monthly rent of Rs 2.33 crore, amid strong office demand across India's top cities

Eternal Limited’s food service company Zomato has leased over 270,000 square feet of office space at Tata Realty and Infrastructure’s Intellion Park in Sector 59, Gurugram.

 

What are the key details of Zomato’s office lease?

 

According to transaction documents with Zapkey, the food service company will pay Rs 2.33 crore as monthly rent for a chargeable area of 278,249 square feet. This puts the monthly rent rate at Rs 84 per square foot.

 

How long is the lease tenure and what space has Zomato taken?

 

The lease agreement is applicable for 59 months (four years and 11 months), with the company taking over space across the ground floor and six upper floors of Intellion Park.

 

Why is the Zomato deal significant for the office market?

 

The Zomato deal comes at a time of continued demand for office space in India’s tier-1 cities.

 

According to a report by occupier-focused workplace solutions firm Vestian, office absorption in India continues to outpace new supply by a wide margin in 2025, leading to a notable improvement in occupancy levels.

 

What trends are shaping India’s office space demand?

 

The pan-India vacancy rate declined by 310 basis points, from 13.9 per cent in 2024 to 10.8 per cent in 2025.

 

The segment has seen the setting up of new global capability centres (GCCs), an expanding presence of flexible workspace operators, a rise in unicorn start-ups and ongoing growth of big technology firms.

 

What other major occupiers are present at Intellion Park?

 

Previously, US-based networking systems, services and software company Ciena had leased 135,000 square feet at Intellion Park, which also counts Google and IBM among its other occupiers.

 

How has office leasing performed in the Delhi-NCR region?

 

The Delhi-National Capital Region (NCR) recorded gross leasing volume (GLV) of 5.1 million square feet (msf) in the September quarter, a 56 per cent year-on-year (Y-o-Y) growth, according to a report by real estate consultancy Cushman & Wakefield.

 

In NCR, Gurugram accounted for 72 per cent of the leasing, followed by Noida at 24 per cent and Delhi sub-markets at 4 per cent.

 

The report stated that nearly 3.2 msf of new supply was added during the quarter in Delhi NCR. The vacancy rate fell by 83 basis points compared to the previous quarter.