Noida real estate news: EY Global Delivery Services has signed a lease for office space, committing to a monthly cost of ₹98.5 lakh

By Bricksnwall | 2026-01-23

Noida's real estate market just got a boost. EY Global Delivery Services India LLP has signed a five-year lease for office space covering 1.72 lakh square feet at Embassy Oxygen Business Park.

EY Global Delivery Services India LLP has secured a five-year lease for four floors, totaling 1.72 lakh square feet, at Embassy Oxygen Business Park in Noida. The monthly rent, as per property registration documents reviewed by Propstack, is ₹98.52 lakh.

The business park in Sector 144, Noida, houses the space, specifically in Tower 2. The lease covers a total of 37,508 sq ft of super built-up area at the podium level, along with 42,160 sq ft on the second floor, and 46,583 sq ft each on the third and fourth floors. According to the paperwork, the lease period is set from July 1, 2025, to June 30, 2030.

The agreed-upon rent is approximately ₹57 per sq ft. EY GDS has submitted a security deposit of ₹5.91 crore, and the lease stipulates a 15 percent rent increase after three years. Furthermore, the company paid ₹1.33 crore in stamp duty, and the lease deed was officially registered on December 18.

Noida's commercial office market is clearly appealing.

"This transaction highlights the attractiveness of Noida for major GCCs and consulting firms," noted Raja Seetharaman, co-founder of Propstack. "Securing a prominent tenant such as EY signals enduring stability and faith in this asset class."

Emails were dispatched to EY Global Delivery Service India LLP and Embassy Reit. The copy will be revised if a reply is received.

Embassy Oxygen, as stated on the company's website, is a Grade A office park situated in Noida, conveniently near the Noida-Greater Noida Expressway. It's a significant property, ranking among the largest office parks in the city and one of only two SEZ parks within its submarket.

Covering roughly 25 acres, Embassy Oxygen boasts 3.3 million square feet of space. The park is home to several prominent global companies. Tenants include ARM Semi-Conductor, MetLife, Global Logic India Private Limited, and Air Liquide, to name a few.

Real estate professionals are saying that the Noida and Greater Noida area is now a prime spot for companies looking for office space. The reasons are clear: better transportation links, the new Noida International Airport on the horizon, and a surge in tech-driven firms and global capability centers setting up shop there.

The deal arrives just as office demand in the area has surged. Delhi-NCR saw a remarkable 82 percent increase in net office leasing year-on-year, reaching 10.9 million square feet in 2025. This was a significant rise from the 6 million square feet leased the year before, as per a Cushman & Wakefield study.

Source: Hindustan Times