August 18, 2025 |
Table Space leases 5 lakh sq. ft office space in Gurugram for ₹3.5 cr/month
Table Space Technologies Private Limited, a flexible workspace solution provider, has taken on lease 5,34,532 sq. ft. of office space at a monthly rental of Rs 65 per sq. ft. amounting to Rs 3,47,44,580 in Intellion Park in sector 59, Gurugram, according to the property registration document reviewed by NSE-listed real estate data analytics firm PropEquity.
The transaction was registered on July 25, 2025 between Table Space Technologies Private Limited and Mikado Realtors Private Limited, a Tata Group Company (Tata Realty and Infrastructure Ltd.)
Intellion Park is located right off the Golf Course Extension Road, in Gurugram. It offers connectivity through the main access roads – Golf Course Road, MG Road & Faridabad Road and is also well connected to Sohna Road, NH 8 and Delhi. The Southern Peripheral Road, Dwarka Expressway and Delhi-Mumbai Expressway are within easy reach. The metro station is at a 10-min drive.
According to the registration document reviewed by PropEquity, which also tracks residential and commercial transactions, the lease agreement has been signed for six years starting from lease commencement date of August 1, 2024 till July 31, 2030. The lease deed is also subject to a lock-in period of three years.
Lease & Financial Terms
Area: 5,34,532 sq. ft. at ₹65 per sq. ft.
Monthly rent (till June 2025): ₹3.47 crore (with reduced maintenance charges).
Monthly rent (from July 2025): ₹4.17 crore including ₹13 per sq. ft. maintenance.
Security deposit: Three months’ rent, refundable and subject to escalation.
Stamp duty & registration: ₹1.58 crore and ₹50,003 respectively.
Table Space will have 11 months for fit-outs, paying only 50% of maintenance charges during this period.
The lease also includes 617 covered parking spaces. Renewal is possible for four years and further extendable by five years.
The lease deed also provides for a fit-out period of eleven months from the Lease Commencement Date (August 1, 2024) to June 30, 2025 during which Table Space will be required to pay only 50% of the maintenance charges, i.e Rs 6.5 per sq. ft.
The rent commencement and full maintenance charge of Rs 13 per sq. ft. shall begin from July 1, 2025 amounting to a monthly rent of Rs 4,16,93,496.
The agreement provides for 15% escalation in lease rent after every three years.
The agreement also requires the deposit of three month rent as interest free refundable security deposit with 15% escalation after every three years.
The lease agreement, upon expiry, can be renewed for a period of four years and thereafter an additional five years.
The G+12 structure office building will also have 617 covered car parking spaces in the basement.
The transaction incurred a stamp duty payment of Rs 1,58,53,000 and registration charges of Rs 50,003.
Table Space is one of the leading flexible workspace solution providers in India and specializes in providing enterprise-managed workspace solutions to global enterprises. Founded in 2017, Table Space’s portfolio comprises 10.5 million sq. ft (100.5 lakh sq. ft) of custom workspaces for enterprises as of December 2024, with over 75+ centres across key clusters in India.
According to PropEquity, Golf Course Extension Road saw the supply of 5.23 million sq. ft. office space between 2022-24 while leasing stood at 2.72 million sq. ft. The average rentals stood at Rs 78 per sq. ft.
Source: Business Standard
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