Versigent Leases 2.91 Lakh Sq Ft in Chennai for 10 Years

Versigent India Private Limited has leased 2.91 lakh sq ft of industrial space in Chennai for 10 years at IndoSpace Industrial Park Vallam. The agreement carries a monthly rent of ₹1.08 crore, according to property documents accessed by Propstack.

Versigent Signs Long-Term Industrial Lease in Chennai

The lease will commence on April 1, 2027, at a rental rate of ₹37 per sq ft per month. Versigent has paid a security deposit of ₹6.48 crore, and the agreement provides for a 15% rental escalation every three years.

The agreement also includes a green-energy provision. At the tenant's request, solar power installations may be implemented through separate contracts that the lessor will enter into with the relevant service providers.

IndoSpace Industrial Park Vallam Hosts the Facility

The leased space is located at IndoSpace Industrial Park Vallam in Chennai. The transaction gives Versigent access to a substantial industrial facility within an organised industrial park.

IndoSpace develops and operates industrial and logistics parks across India. The lease adds a long-term industrial occupancy arrangement to Chennai's property market, with the agreement specifying the rental rate, security deposit, escalation terms and proposed solar-power arrangements.

What Versigent Does

Versigent PLC designs, manufactures and distributes low- and high-voltage electrical architectures, signal solutions and electric vehicle charging systems. Its products serve industrial and mobility applications.

The Chennai lease provides the company with access to industrial space, although the announcement does not specify the facility's intended use, planned workforce or production capacity. Versigent could not be reached for comment regarding the transaction.

Also Read: Sopra Steria Leases 4.75 Lakh Sq Ft in Noida for Rs 816 Cr

Industrial and Warehousing Demand Remains Active

Demand for industrial and warehousing space remained strong across India's eight leading cities during the first nine months of 2026, according to a Colliers India report cited in the article. Grade A leasing reached 33.3 million sq ft, representing a 26% year-on-year increase.

Delhi-NCR and Chennai together accounted for nearly half of the total demand during this period. In Q3 2026, industrial and warehousing space uptake exceeded 11 million sq ft, rising 63% year on year and marking the highest quarterly leasing activity in recent years, according to the report.

The sector maintained its momentum despite renewed tensions in West Asia, supply-chain disruptions and trade realignments. These figures provide context for the industrial property market in which the Versigent lease was signed.

Also Read: Accenture Leases 5.84 Lakh Sq Ft Across Mindspace Airoli

Key Takeaways

• Leased area: 2.91 lakh sq ft at IndoSpace Industrial Park Vallam in Chennai.
• Lease duration: 10 years, beginning April 1, 2027.
• Monthly rent: ₹1.08 crore, at ₹37 per sq ft per month.
• Security deposit: ₹6.48 crore, with a 15% rental escalation every three years.
• Market context: Grade A industrial and warehousing leasing across India's top eight cities reached 33.3 million sq ft in the first nine months of 2026.

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