Cognizant Leases 6.45 Lakh Sq Ft in Chennai for Rs 303 Crore

IT services major Cognizant Technology Solutions India Private Limited has leased about 6.45 lakh sq ft of office space in Chennai.

The space is at Embassy Splendid TechZone in Pallavaram. The total rent is around Rs 303 crore, according to property registration data accessed by Propstack.

Lease Details

The fresh lease commenced on September 10, 2026. It has a tenure of five years. The space is spread across 10 floors and has a chargeable area of 645,172 sq ft. The monthly rental rate is Rs 74 per sq ft.

• Chargeable area: 645,172 sq ft across 10 floors
• Monthly rent: about Rs 4.77 crore at Rs 74 per sq ft
• Security deposit: Rs 28.64 crore
• Rent escalation: 15 percent every three years

The landlord is ESNP Property Builders and Developers Private Limited, which is Embassy REIT.

The lease carries a 15 percent escalation every three years. At the contracted rate, the monthly rent works out to approximately Rs 4.77 crore for the chargeable area of 645,172 sq ft.

The agreement also includes a security deposit of Rs 28.64 crore, according to the documents.

Also Read: WNS Leases 3.22 Lakh Sq Ft in Thane for Rs 619.37 Crore

About Embassy Splendid TechZone

Embassy Splendid TechZone is a commercial development in Pallavaram. This location is part of Chennai's wider office market.

The commercial real estate industry closely watches large office leases by technology companies.

They are seen as indicators of occupier demand, space needs, and leasing activity. The original report said it would be updated if the landlord responds.

An email query was sent to ESNP Property Builders and Developers Private Limited. Cognizant could not be reached for comment.

Also Read: Blackstone Arm Leases 4.5 Lakh Sq Ft in Bengaluru

Cognizant's Earlier Deals

Cognizant renewed a lease for over 92,000 sq ft in Mindspace Business Park, Airoli, in Navi Mumbai.

The total rent is over Rs 39.66 crore, according to documents accessed by CRE Matrix. The space is on the second floor, with 45,000 sq ft, and the sixth floor, with over 46,000 sq ft.

• Starting monthly rent: Rs 62.70 lakh, rising 4.5 percent a year
• Tenure: five years with a three-year lock-in
• Registered on December 12, 2025
• Stamp duty of over Rs 42 lakh and registration fee of Rs 30,000 paid

In early 2025, Cognizant sold its India headquarters in Chennai to Bagmane Constructions for Rs 612 crore.

The property is in Thoraipakkam on Old Mahabalipuram Road, one of the city's key IT corridors. It spans 5.9 lakh sq ft, or 13.6 acres, according to a Hindustan Times Real Estate report.

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