EY Global Delivery Services Leases 1.72 Lakh Sq Ft Office Space in Noida

• 1.72 lakh sq ft leased across four floors in Sector 144, Noida

• Monthly rent fixed at ₹98.52 lakh with 15% escalation after three years

• Deal signals rising demand from global firms in Noida’s office market

Noida: Global consulting firm EY Global Delivery Services India LLP has leased a large office space in Noida, reinforcing the city’s growing appeal as a preferred destination for corporate occupiers and global capability centres (GCCs).

According to property registration documents accessed by Propstack, EY GDS has taken on lease nearly 1.72 lakh square feet of office space at Embassy Oxygen Business Park. The five-year lease comes with a monthly rent of ₹98.52 lakh, translating to roughly ₹57 per sq ft.

The leased premises are located in Tower 2 of the business park and span four levels, including podium and upper floors. The lease period runs from July 1, 2025, to June 30, 2030. As part of the agreement, EY GDS has paid a security deposit of ₹5.91 crore, while the lease includes a 15% rent escalation after three years. Stamp duty of ₹1.33 crore was also paid, and the agreement was registered on December 18.

Industry experts say the transaction highlights Noida’s improving position in the Delhi-NCR commercial real estate landscape. Raja Seetharaman, co-founder of Propstack, said the deal reflects long-term confidence in Noida’s office assets, particularly among large consulting firms and GCCs seeking scalable, cost-efficient locations.

Embassy Oxygen is a Grade A office park spread over approximately 25 acres, offering around 3.3 million sq ft of office space. Located near the Noida–Greater Noida Expressway, the park houses several multinational tenants, including ARM Semiconductor, MetLife, GlobalLogic, and Air Liquide. It is also among the limited SEZ office parks in its submarket.

The lease comes at a time when the broader Delhi-NCR office market is witnessing a strong rebound. According to a report by Cushman & Wakefield, net office leasing in the region rose 82% year-on-year to 10.9 million sq ft in 2025, up from 6 million sq ft in the previous year.

With improving connectivity, the upcoming Noida International Airport, and sustained interest from technology-driven businesses, real estate analysts expect Noida and Greater Noida to continue attracting large office occupiers in the coming years.