French technology and consulting company Sopra Steria India has leased 4,74,150 sq ft of office space in Noida for 15 years, with the total rental outlay estimated at ₹816 crore. The transaction reflects the company’s long-term office space commitment in the National Capital Region (NCR), with the premises located in Sector 132 along the Noida Expressway.
According to data shared by real estate analytics firm Propstack, Sopra Steria has leased the office space at Maconns Grand, Plot No. B-9, Sector 132, from Maconns Infra Private Limited. The registered lease agreement covers office premises in Tower A, extending from the ground floor to the 17th floor.
The initial monthly rent has been fixed at approximately ₹3.76 crore, equivalent to ₹79.20 per sq ft per month. The 15-year lease carries a total scheduled rental commitment of around ₹816 crore, taking into account the stipulated rental escalations over the agreement period.
Rent Escalation and Security Deposit
The lease agreement includes a rental escalation clause of 10% every three years. This provision will increase the monthly rental payments at specified intervals during the tenure, contributing to the overall rental outlay.
Sopra Steria has also provided a security deposit of approximately ₹20.48 crore under the agreement. The lease commenced on May 30, 2026, while the rent-free period ran from June 1 to July 31, 2026. Full rent payments became applicable from August 1, 2026.
The agreement includes a lock-in period of 62 months from the rent commencement date. This provision requires the tenant to remain committed to the lease for the specified period, subject to the terms of the registered agreement.
The transaction also provides for 1,125 car parking spaces. Of these, 875 spaces are scheduled to be available at the commencement of the lease, while the remaining 250 spaces are to be provided within 14 months.
The scale of the transaction, including its long tenure and parking provision, indicates the requirements of a large corporate occupier seeking dedicated office infrastructure for its operations.
Noida Expressway Attracts Long-Term Office Commitments
The lease adds to the commercial office activity in Noida’s Sector 132 and the wider Noida Expressway corridor. The area has attracted corporate occupiers seeking office premises with the capacity to support large teams and long-term business operations.
Raja Seetharaman, co-founder of Propstack, said the transaction demonstrated the preference among global technology companies for dedicated office campuses and customised work environments. He also pointed to the Noida Expressway’s growing role as a commercial corridor capable of accommodating large corporate operations.
Long-term office leases provide companies with greater certainty over their workspace arrangements, while allowing property owners to secure rental income over an extended period. For technology and consulting firms, such commitments can support workforce planning and the consolidation of business operations within dedicated premises.
Corporate Office Leasing in Noida
Sopra Steria’s lease comes amid continued activity in Noida’s commercial office market. Technology companies and other corporate occupiers have been taking up office space across the city, supported by the availability of large commercial developments along key corridors.
The company’s 4.74 lakh sq ft lease stands out for its size, 15-year tenure and total rental commitment of ₹816 crore. The arrangement also provides substantial parking capacity, an important requirement for a large office campus.
The transaction highlights the continued demand for sizeable office premises in NCR and the willingness of corporate occupiers to enter into long-duration agreements to secure space for their operations. Further leasing activity in the Noida Expressway corridor will help indicate how demand from large companies shapes the region’s commercial real estate market.
