New Century Sofa India Leases 2.72 Lakh Sq Ft at IndoSpace Industrial Park, Oragadam
The lease at IndoSpace Industrial Park Oragadam II, signed by New Century Sofa, highlights rising manufacturing demand in Tamil Nadu, strengthening the state’s role as a major logistics and industrial hub.
New Century Sofa India has taken on lease 2.72 lakh sq ft of industrial space at IndoSpace Industrial Park Oragadam II, marking another significant transaction in Tamil Nadu’s fast-expanding manufacturing and logistics landscape.
The facility is located in Block B, Venbakkam, along the Oragadam–Walajabad Road in Sriperumbudur Taluk of Kancheepuram district—an area that has emerged as one of South India’s most active industrial corridors. IndoSpace, a leading investor and developer of Grade-A industrial and logistics real estate, executed the lease as part of its ongoing expansion strategy in the state.
As per lease documents accessed by CRE Matrix, the agreement has been structured with a 36-month lease period and a full 36-month lock-in, offering long-term stability to both parties. The contract also includes a 5 per cent annual rent escalation, ensuring predictable annuity income for the lessor while giving the tenant cost visibility over the lease term.
The leased space is spread across three buildings within the industrial park. Possession of the facility was handed over on 1 April 2025, allowing New Century Sofa India to initiate early operational planning. Buildings 1 and 3 were delivered without a fit-out period, enabling immediate installation of machinery and faster commencement of manufacturing activities. Building 2 follows a staggered schedule, with a lease commencement date of 16 May 2025 and rent becoming applicable from 1 October 2025.
The transaction comes at a time when IndoSpace has stepped up its capital allocation in Tamil Nadu, raising planned investments to ₹4,500 crore for new logistics and warehousing developments. The state continues to attract strong interest from global and domestic manufacturers, supported by robust infrastructure, port connectivity, and policy support.
Large OEMs including Hyundai, Nissan, Foxconn and Pegatron have announced major expansions in the region, driving demand for modern, scalable industrial facilities. IndoSpace has played a key role in supporting this growth by strengthening the supply chain ecosystem with Grade-A parks designed for advanced manufacturing and logistics operations.
The Oragadam lease adds to a series of large occupier signings by IndoSpace in recent quarters. These include Relaxo Footwears leasing over 243,000 sq ft at IndoSpace Bhaproda, Puma taking around 279,000 sq ft at IndoSpace Luhari IV, Inox Solar occupying more than 284,000 sq ft at IndoSpace Bavla, and RenewSys expanding nearly 700,000 sq ft at IndoSpace Khopoli II.
Commenting on the market outlook, Anshuman Singh, Managing Director and CEO of IndoSpace, said Tamil Nadu offers long-term visibility for industrial investors due to its diversified manufacturing base and consistent execution. He added that with 15 Grade-A industrial parks spread across 650 acres and more than 65 Indian and global manufacturing customers already operating in the state, IndoSpace continues to see strong conversion of demand into operational facilities and job creation.
