 "Information technology major Tata Consultancy Services (TCS) on Friday termed the tax demand notices received by several of its employees a “discrepancy,” and the tax department will be reprocessing the returns.")
Tata Consultancy Services (TCS) has leased a commercial building in Hyderabad's Nanakramguda area for a monthly rent of ₹4.37 crore. The building, Paradigm Rajapushpa, spans around 10.2 lakh square feet (sq ft)and is located in the Business District.
The firm has leased the building with a chargeable area of around 10.2 lakh sq ft at the rate of ₹43 per sq ft. The rent for the space will escalate by 12 per cent after every three years. TCS has paid a deposit of ₹26.2 crore, which is equivalent to a rent for six months.
According to lease documents reviewed via Propstack, the lease tenure is 15 years, starting October 1, 2024, with a 12 per cent rent escalation every three years.
According to Propstack's data, the average deal size in the last 12 months around Nanakramguda has hovered around 56,000 sq ft. Meanwhile, the average rent during the same period has remained around ₹70 sq ft.
The grade-A commercial building, developed by Rajapushpa Group, features 19 floors including a ground floor and a food court. The area is home to major companies like Wipro, ICICI, Broadridge, and Infosys etc.
Additionally, Hyderabad's office space market saw 2.7 million sq ft (msf) of absorption in Q1 2025, up 17% year-on-year, despite a strong pipeline of upcoming supply, according to Vestian, an occupier-focused workplace solutions firm. As of first quarter, the city holds 28 msf of vacant stock, the highest among the top seven cities.
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