EY Global Delivery Services Bags 1.72 Lakh Sq Ft Office Space in Noida for ₹98.5 Lakh Monthly Rent
EY Global Delivery Services India LLP has secured a substantial office lease in Noida, leasing four floors totaling 1.72 lakh sq ft at the Embassy Oxygen Business Park. The lease is for a period of five years, with a monthly rent of ₹98.52 lakh, as per property registration documents accessed by Propstack.
The leased space is located in Tower 2 of the business park in Sector 144, Noida. It 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 lease period runs from July 1, 2025, to June 30, 2030.
The agreed rent is approximately ₹57 per sq ft. EY GDS has also paid a security deposit of ₹5.91 crore, with the lease including a 15 per cent rent escalation after three years. Additionally, the company paid stamp duty of ₹1.33 crore, and the lease deed was registered on December 18.
This deal underscores the value proposition that Noida currently offers to large Global Capability Centres (GCCs) and consulting firms. Locking in a marquee tenant like EY reflects long-term stability and confidence in the asset class, according to Raja Seetharaman, co-founder of Propstack.
Embassy Oxygen is a Grade A office park in Noida, strategically located close to the Noida-Greater Noida Expressway. The property is one of the largest office parks in the city and one of only two Special Economic Zone (SEZ) parks in its submarket. Spread across an area of approximately 25 acres, the park offers 3.3 million sq ft of office space. Some of the notable tenants include ARM Semi-Conductor, MetLife, Global Logic India Private Limited, and Air Liquide.
The Noida and Greater Noida belt has emerged as an attractive destination for office occupiers, driven by improved connectivity, the upcoming Noida International Airport, and the expansion of technology-led businesses and global capability centres in the region. This transaction comes amid a sharp rebound in office demand in the region. According to a report by Cushman & Wakefield, Delhi-NCR recorded an 82 per cent year-on-year jump in net office leasing to 10.9 million sq ft in 2025, compared with 6 million sq ft in the previous year.
This significant lease by EY Global Delivery Services in Noida is a clear indicator of the region's growing importance in the commercial real estate market, attracting major players and fostering economic growth.
