BNP Paribas Leases 5 Lakh Sq. Ft. at One Radial in Chennai for 10 Years
Chennai’s commercial real estate market continues to attract major global companies, with international banking group BNP Paribas leasing around 5 lakh sq. ft. of office space at One Radial, a commercial campus owned by Mindspace Business Parks REIT.
The 10-year lease covers four floors of the office complex located along Pallavaram–Thoraipakkam Road, one of Chennai’s established commercial corridors.
Key Highlights
- Company: BNP Paribas
- Office space: Approximately 5 lakh sq. ft.
- Lease period: 10 years
- Location: One Radial, Pallavaram–Thoraipakkam Road, Chennai
- Reported rental rate: Around ₹90 per sq. ft. per month
- Estimated rental commitment: Approximately ₹550 crore over the lease period, excluding rental escalations and other adjustments.
What Does This Mean for Chennai?
The deal reflects the continued interest of multinational companies in Chennai as a base for their business and technology operations. Access to skilled professionals, relatively competitive operating costs and established commercial corridors make the city an attractive option for large office occupiers.
For the commercial property market, a long-term lease of this size provides greater rental visibility for the property owner and highlights demand for large office spaces in well-established business locations.
As companies expand or consolidate their operations, demand for office campuses may also support activity across Chennai’s commercial real estate sector.
Property Inside Takeaway: Large office leasing deals such as this highlight Chennai’s growing importance as a destination for multinational businesses and reinforce the role of commercial real estate in the city’s development.
