In a notable real estate development, Google Connect Services India Private Limited has renewed its lease for a substantial office space in Hyderabad. The renewal, confirmed by recent documents, involves 3.7 lakh square feet of office space across six floors at the Salarpuria Sattva Knowledge Capital – Block 1. This agreement, signed on August 27, 2024, with landlord Megasoft Limited, extends the lease for a period of five years.
The monthly rent for this expansive office space is set at ₹2.02 crore, translating to a rate of ₹55.2 per square foot. Additionally, Google has paid a security deposit of ₹10.6 crore. The lease agreement includes an escalation clause, stipulating a 15% increase in rent after 36 months, reflecting standard practice in long-term commercial leases. This lease renewal highlights Google’s ongoing commitment to expanding and consolidating its operations in India. It follows a significant lease agreement in 2022, where Google secured approximately 6 lakh square feet of office space in Hyderabad at an annual rent of ₹37.03 crore. In that agreement, Google occupied multiple floors across two separate buildings, illustrating the company’s substantial footprint in the region.
Moreover, Google’s recent activities reveal a strategic expansion of its office space portfolio across India. In May 2024, Google leased 649,000 square feet in Alembic City, Whitefield, Bengaluru, with a three-year lock-in period at ₹62 per square foot. Additionally, in 2023, Google had secured over 29 lakh square feet in Bengaluru through various deals, indicating a robust strategy for real estate expansion. Since 2020, Google has significantly increased its office space in India, adding 3.5 million square feet to its portfolio. This expansion underscores the company’s robust growth trajectory and its commitment to strengthening its operational base in key Indian cities.
