IT services giant LTI Mindtree has finalised a substantial office lease at the L&T Innovation Campus. The company has committed to occupying 5.85 lakh square feet of commercial space in Tower 1 of the campus, which is located on Mount Poonamallee Road in Manapakkam. The lease agreement stipulates a starting monthly rental fee of ₹3.98 crore. The expansive office space, spread over 13 floors including the ground level, signifies a major investment in Chennai’s burgeoning IT sector. The L&T Innovation Campus, a key business hub in the city, offers modern infrastructure and amenities that align with LTI Mindtree’s operational requirements and growth strategies.
This lease agreement, detailed through registration documents accessed from the real estate data analytics platform Propstack, marks a notable expansion for LTI Mindtree. The decision to occupy such a vast space underscores the company’s strategic focus on scaling its operations and enhancing its presence in the southern IT corridor. The lease duration spans five years, reflecting LTI Mindtree’s commitment to establishing a long-term operational base in Chennai. This move is anticipated to bolster the company’s regional footprint and potentially serve as a catalyst for further growth in the city’s competitive IT landscape.
The choice of location within the L&T Innovation Campus aligns with broader trends of IT firms seeking prime commercial real estate in strategic business districts. As companies like LTI Mindtree continue to invest in high-profile properties, it underscores the robust demand for quality office spaces in major Indian cities. This strategic leasing decision also highlights the evolving dynamics of the commercial real estate market in Chennai, where large-scale IT firms are increasingly anchoring their operations in premium office spaces to leverage the city’s growing business ecosystem.
