Incuspaze, a flexible workspace provider, has leased 2.50 lakh sq ft at Olympia Crest, in Chennai’s IT corridor at OMR Zone 1. The office space has the capacity to accommodate more than 4,000 seats to meet the needs of IT/ITeS businesses, says a release.
Surrounded by landmarks like the World Trade Centre, DLF Downtown and Global Infocity, and supported by ongoing infrastructure upgrades and government initiatives, Incuspaze views Olympia Crest as an ideal destination for enterprises expanding in Chennai.
Office space market
Office leasing across the top seven markets, including Chennai, remained strong in Q1 2025 at 15.9 million sq ft, reflecting a 15 per cent year-on-year (y-o-y) increase. Chennai witnessed a 93 per cent y-o-y surge at 2.9 sq ft, driven by space take-up by technology firms.
Also, Global Capability Centres (GCCs) viewed Chennai as an attractive location for space take-up led by cost-effective rentals and the presence of quality Grade A stock.
Chennai’s commercial real estate momentum is further validated by recent large-scale leasing transactions — Walmart has leased 4.6 lakh sq ft for a monthly rent of ₹3.26 crore, while IT services giant LTI Mindtree has taken up 5.85 lakh sq ft of office space, the release said.
Published on April 21, 2025
