IT services major Cognizant Technology Solutions India Private Limited has leased approximately 6.45 lakh sq ft of office space at Embassy Splendid TechZone in Chennai’s Pallavaram for a total rent of around ₹303 crore, according to property registration data accessed by Propstack.
The fresh lease, which commenced on September 10, 2026, has a tenure of five years is spread across 10 floors, and has a chargeable area of 645,172 sq ft, with the monthly rental rate set at ₹74 per sq ft.
The property is owned by ESNP Property Builders and Developers Private Limited (Embassy REIT), which is the landlord in the transaction. The agreement includes a security deposit of ₹28.64 crore, according to the documents.
According to the property registration data, the lease carries a rental escalation clause of 15% every three years. At the contracted rate of ₹74 per sq ft per month, the monthly rent works out to approximately ₹4.77 crore for the chargeable area of 645,172 sq ft.
Embassy Splendid TechZone is a commercial development in Pallavaram, a location in Chennai that forms part of the city’s wider office market. Large office leases by technology companies are closely watched by the commercial real estate industry as indicators of occupier demand, space requirements and leasing activity.
An email query was sent to ESNP Property Builders and Developers Private Limited. The story will be updated if a response is received. Cognizant could not be reached for comment.
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Previous transactions of Cognizant
Cognizant Technology Solutions India Pvt. Ltd. has renewed a lease for over 92,000 sq ft of commercial office space in Mindspace Business Parks in Navi Mumbai, near Mumbai, for a total of over ₹39.66 crore, according to property registration documents accessed by CRE Matrix. The commercial office spaces are located in Mindspace Business Park, a building in Airoli, on the second and sixth floors. The second floor comprises 45,000 sq ft, and the sixth floor exceeds 46,000 sq ft.
The starting monthly rent is ₹62.70 lakh, and the rent is expected to increase by 4.5% annually. The commercial office space has been leased for a period of five years, with a three-year lock-in, as per the documents. The transaction was registered on December 12, 2025, for which a stamp duty of over ₹42 lakh and a registration fees of ₹30,000 was paid.
In early 2025, Cognizant Technology Solutions India sold its India headquarters in to Bagmane Constructions for ₹612 crore. The property was located in Thoraipakkam on Chennai’s Old Mahabalipuram Road (OMR), one of the city’s key IT corridors.
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The property spans 5.9 lakh sq ft or 13.6 acres, according to a report of Hindustan Times Real Estate.