EY Global Delivery Services India LLP has leased 1.72 lakh sq ft of office space at Embassy Oxygen Business Park, Noida, for five years at a monthly rent of ₹98.52 lakh. The transaction highlights strong office demand in Noida amid rising GCC activity and infrastructure-led growth in Delhi-NCR.
EY Global Delivery Services India LLP has strengthened its presence in the Delhi-NCR office market by leasing a large commercial space in Noida. The firm has taken four floors covering about 1.72 lakh square feet at Embassy Oxygen Business Park in Sector 144. According to property registration documents accessed by Propstack, the lease carries a monthly rent of ₹98.52 lakh and runs for 5 years, from July 1, 2025, to June 30, 2030.
The leased space spans multiple levels in Tower 2 of the business park. The deal reflects a growing preference among global firms for Grade-A office assets in well-connected micro-markets in Noida, especially those that offer scale, modern infrastructure, and long-term stability.
Lease Structure, Rentals, and Financial Details
The transaction includes 37,508 sq ft of super built-up area at the podium level, 42,160 sq ft on the second floor, and 46,583 sq ft each on the third and fourth floors. The agreed rental works out to nearly ₹57 per square foot, placing it in line with prevailing premium office rents in the sector.
EY Global Delivery Services has paid a security deposit of ₹5.91 crore for the lease. The agreement also includes a 15 per cent rent escalation after three years, a standard clause in long-term institutional leasing. In addition, the company paid stamp duty of ₹1.33 crore, with the lease deed officially registered on December 18.
Why Noida Is Gaining Office Market Momentum
Industry observers note that “the Noida and Greater Noida belt has emerged as an attractive destination for office occupiers.” This shift is being driven by improved road and metro connectivity, competitive rental rates compared to central Delhi and Gurugram, and the upcoming Noida International Airport.
The region has also seen increased interest from technology-led businesses and global capability centres, which typically seek large floor plates and cost efficiency without compromising on quality. Business parks like Embassy Oxygen are benefiting directly from this trend.
Strong Rebound in Delhi-NCR Office Demand
The EY lease comes at a time when the broader Delhi-NCR office market is witnessing a sharp recovery. According to a report by Cushman & Wakefield, net office leasing in the region jumped 82 per cent year-on-year to 10.9 million square feet in 2025, compared with 6 million square feet in the previous year.
This surge in absorption signals renewed corporate confidence and reinforces Noida’s growing role as a key office and flexible workspace destination within North India’s commercial real estate landscape.
