Zomato Expands Presence in Gurugram Amid Rising Office Space Demand

Zomato office lease: Zomato’s parent company, Eternal Ltd., has reinforced confidence in India’s commercial real estate market with a large Gurugram office leasing transaction, reflecting sustained demand for quality workspaces across tier one cities.

According to lease deed documents accessed by Propstack, Eternal Ltd. has taken on lease seven floors at Intellion Park, also known as TRIL IT City, in Sector 59, Gurugram. The deal includes a total payable area of 2.78 lakh sq. ft., covering the ground floor and floors four through nine. The monthly rent for the space costs ₹2.33 crore, equivalent to ₹84 per square foot.

The lease has been signed with Mikado Realtors Private Limited, the owner of the property. The agreement commenced in October 2025 and is valid for 59 months, or four years and eleven months. A lock-in period of three years has been built into the contract, during which neither the tenant nor the landlord can terminate the lease. After the completion of three years, the rent will escalate by 15 percent.

As part of the transaction, Eternal Ltd. has paid a security deposit equivalent to six months’ rent. The agreement also offers a rent-free fit-out period of six months and 14 days, giving the company adequate time to customise the office space before rental payments begin. The lease also includes 371 car parking spaces, calculated at one parking slot for every 750 square feet of leased area.

The Zomato office lease comes at a time when Gurugram office leasing and India’s broader commercial real estate market are witnessing strong momentum. Despite new supply entering the market, demand continues to exceed availability in major business hubs. According to a recent report by occupier-focused workplace solutions firm Vestian, office absorption across India has remained well ahead of new supply in 2025. This trend has led to a steady improvement in occupancy levels nationwide.

The pan-India vacancy rate dropped sharply by 310 basis points, dropping from 13.9 percent in 2024 to 10.8 percent in 2025. This tightening of vacancies highlights growing confidence among large occupiers, especially technology-led and consumer internet companies, in committing to long-term office space.

Zomato’s latest transaction also aligns with its recent real estate expansion strategy. Earlier, Zomato Hyperpure, the company’s B2B supply unit, leased a warehouse measuring 5.53 lakh square feet in Bhiwandi, near Mumbai, for a monthly rent of around ₹1.7 crore. The warehouse was taken on lease from Zuijin Developers Private Limited for a period of four years and seven months, with a rent-free fit-out period of 150 days following handover in September 2025.

In another notable deal last year, Zomato leased 84,157 square feet of office space in Andheri, Mumbai, for a total consideration of ₹85 crore over five years. The monthly rent for the first three years was fixed at ₹1.34 crore and increased to ₹1.54 crore for the final two years.

Deals of this scale illustrate why Gurugram office leasing continues to attract large occupiers seeking long-term operational stability.