Flexible Workspace Giant Table Space Secures Massive 5.34 Lakh Sq Ft Google Office Lease in Gurugram

Leading flexible workspace operator Table Space Technologies has reportedly secured one of the year's most significant commercial real estate transactions by finalizing a lease agreement for 5.34 lakh square feet at Intellion Park in Sector 59, Gurugram. Industry sources revealed that the expansive workspace, distributed across multiple floors, is being prepared to accommodate Google's operations, marking it as one of the most prominent real estate developments in the National Capital Region.

Comprehensive Deal Structure Unveiled

The lease agreement encompasses a monthly rental commitment of ₹3.47 crore, approximately ₹65 per square foot, which is expected to increase to ₹4.17 crore following the completion of the fit-out period. The arrangement spans a six-year tenure from August 2024 to July 2030, incorporating a three-year lock-in period that ensures stability for both parties.

Real estate experts note that this transaction reflects the growing demand for flexible workspace solutions in India, particularly among technology giants seeking premium locations with modern infrastructure.

Financial Terms and Escalation Framework

The deal incorporates an 11-month fit-out period with reduced maintenance charges at 50 percent, after which full rental and maintenance charges will apply from July 2025. The agreement includes a structured escalation clause featuring a 15 percent increase in both rent and security deposit every three years, ensuring the lease remains competitive with market rates.

The security deposit, equivalent to three months' rent, remains interest-free and refundable, while the arrangement includes 617 covered basement parking slots. The transaction involved approximately ₹1.58 crore in stamp duty and registration charges, with ₹50,000 allocated for registration fees.

Strategic Location Advantages

Intellion Park's positioning along Golf Course Extension Road provides exceptional connectivity to major business corridors including Sohna Road, MG Road, NH-8, and Dwarka Expressway. This prime location offers Grade-A infrastructure specifications that align with global technology companies' operational requirements.

The Gurugram office market continues to attract major corporations, with several recent developments including significant funding rounds for workspace operators and international companies establishing operations in the region.

Market Context and Industry Trends

This transaction reflects the broader trend of technology companies partnering with flexible workspace providers to optimize their real estate strategies. Similar arrangements have been observed across major metropolitan areas, with companies like WeWork India also expanding aggressively in Delhi-NCR through substantial lease agreements.

The commercial real estate sector has witnessed increased interest from technology companies seeking flexible arrangements that can accommodate changing workforce dynamics. This aligns with the growing recognition of commercial real estate investment benefits across Indian markets.

Transaction Summary Overview

Disclaimer: This news article is based on publicly available information and industry reports. While every effort has been made to ensure accuracy, readers are advised to verify details independently. The information provided is for general awareness purposes and should not be considered as investment or legal advice. Property transactions involve significant financial commitments, and prospective investors should consult qualified professionals before making any decisions.