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Noida real estate: EY Global Delivery Services secures office lease for ₹98.5 lakh monthly rent
Noida real estate: EY Global Delivery Services India LLP has leased office space spanning 1.72 lakh sq ft at Embassy Oxygen Business Park for five years
EY Global Delivery Services secures office lease in Noida for ₹98.5 lakh monthly
EY Global Delivery Services India LLP has leased four floors spanning 1.72 lakh sq ft of office space at Embassy Oxygen Business Park in Noida for five years, at a monthly rent of ₹98.52 lakh, according to property registration documents accessed by Propstack.
The space is located in Tower 2 of the business park in Sector 144, Noida. The lease comprises 37,508 sq ft of super built-up area at the podium level, 42,160 sq ft on the second floor, and 46,583 sq ft each on the third and fourth floors. The lease tenure runs from July 1, 2025, to June 30, 2030, according to the documents.
The agreed rent is around ₹57 per sq ft. EY GDS has paid a security deposit of ₹5.91 crore, with the lease providing for a 15 per cent rent escalation after three years. The company also paid stamp duty of ₹1.33 crore, and the lease deed was registered on December 18.
Noida commercial office market
“This deal underscores the value proposition that Noida currently offers to large GCCs and consulting firms. Locking in a marquee tenant like EY reflects long-term stability and confidence in the asset class,” said Raja Seetharaman, co-founder Propstack.
Emails have been sent to EY Global Delivery Service India LLP and Embassy Reit. The copy will be updated if a response is received.
According to the company's website, Embassy Oxygen is a Grade A office park in Noida, located in close proximity to the Noida-Greater Noida Expressway. The property is among the largest office parks in the city and one of only two SEZ park in its submarket.
Embassy Oxygen is a Grade A office park in Noida, located close to the Noida-Greater Noida Expressway. Home to leading global names, the park is spread across an area of around 25 acres with 3.3 mn sq ft. Some of the tenants are ARM Semi-Conductor, MetLife, Global Logic India Private Limited, Air Liquide among others.
According to real estate experts, the Noida and Greater Noida belt has emerged as an attractive destination for office occupiers. This is driven by improved connectivity, the upcoming Noida International Airport, and the expansion of technology-led businesses and global capability centres (GCCs) in the region.
Also Read: Zomato leases 2.7 lakh sq ft of commercial space in Gurugram for ₹2.3 crore monthly rent
The transaction comes amid a sharp rebound in office demand in the region. Delhi-NCR recorded an 82 per cent year-on-year jump in net office leasing to 10.9 million sq ft in 2025, compared with 6 million sq ft in the previous year, according to a report by Cushman & Wakefield.
