Gurugram real estate continues to demonstrate strong occupier confidence as Eternal Ltd, the parent company of Zomato, has secured a large-scale office lease in Sector 59. The transaction involves 2.78 lakh sq ft of Grade-A commercial space at Intellion Park and underlines the sustained demand for premium office developments along the Golf Course Extension Road corridor, despite evolving hybrid and flexible workplace models.
Key Lease Details at Intellion Park, Gurugram
As per lease deed documents accessed by Propstack, Eternal Ltd has leased seven floors at Intellion Park (TRIL IT City), a prominent IT and commercial destination in Gurugram.
Lease Snapshot
Total leased area: 2,78,249 sq ft
Floors: Ground floor and 4th to 9th floors
Project: Intellion Park (TRIL IT City)
Location: Sector 59, Gurugram
Monthly rent: ₹2.33 crore
Rental value: ₹84 per sq ft per month
Lease commencement: October 2025
Landlord: Mikado Realtors Private Limited
The tenant has also paid a security deposit equivalent to six months’ rent, in line with institutional leasing practices prevalent in Gurugram’s commercial real estate market.
Lease Tenure, Lock-In and Escalation Terms
The lease structure reflects a long-term occupancy strategy:
Lease duration: 4 years and 11 months
Lock-in period: 3 years for both tenant and landlord
Rent escalation: 15% after three years
Rent-free fit-out period: 6 months and 14 days
The extended fit-out period enables the tenant to customise and operationalise the office before rental obligations begin—an incentive increasingly seen in large-format corporate leasing.
Parking and Infrastructure Provisions
The transaction includes 371 dedicated car parking spaces, calculated at one parking slot per 750 sq ft of leased area. This parking allocation enhances employee convenience and further positions Intellion Park as a headquarters-grade office development suitable for large corporate occupiers.
Market experts view this transaction as a positive indicator for the NCR office market, particularly for Gurugram’s emerging commercial corridors.
“Zomato’s 2.7 lakh sq ft lease at Intellion Park is a significant move for the NCR office market. While recent absorption has largely been driven by Global Capability Centers, a large-scale expansion by a homegrown technology company reflects strong confidence in the domestic tech ecosystem,”
— Raja Seetharaman, Co-founder, Propstack
He further noted that such deals reinforce Golf Course Extension Road’s positioning as a preferred destination for top-tier talent, technology firms, and corporate headquarters.
The Gurugram lease forms part of Zomato’s broader, pan-India real estate expansion:
Bhiwandi Warehouse Lease (Mumbai Region)
Area: 5.53 lakh sq ft
Monthly rent: Approximately ₹1.7 crore
Location: Bhiwandi, Thane district
Tenant: Zomato Hyperpure (B2B supply arm)
Lease tenure: 4 years and 7 months
Rent-free fit-out: 150 days
Scheduled handover: September 1, 2025
Andheri Office Lease (Mumbai)
Area: 84,157 sq ft
Total lease value: ₹85 crore over five years
Monthly rent:
₹1.34 crore for the first three years
₹1.54 crore for the final two years
These transactions highlight the company’s long-term commitment to physical infrastructure supporting corporate operations, logistics, and supply-chain expansion.
Conclusion
The leasing of 2.78 lakh sq ft at Intellion Park by Eternal Ltd ranks among the most notable commercial office transactions in Gurugram real estate in recent times. It underscores growing confidence among Indian technology companies in well-connected, Grade-A office corridors, particularly along Golf Course Extension Road.
For developers, investors, and occupiers, the deal reaffirms Gurugram’s position as a future-ready commercial destination, capable of attracting large institutional tenants and sustaining long-term office demand amid a transforming work environment.