Real Estate

DLF inks 7.7 lakh sq ft pre-lease deal with Stanchart for commercial space

Our Bureau Chennai | Updated on October 21, 2020

Leading realty company DLF has signed an anchor deal with Standard Chartered GBS (Global Business Services) for its office building in Chennai.

As Standard Chartered GBS is leasing 7.7 lakh sq ft in the upcoming “DLF Downtown” to set-up its largest office establishment, this transaction is reported to be one of the largest commercial office space deals in recent times, according to a statement.

DLF Cyber City Developers Ltd (DCCDL), which is a joint venture between DLF and Singapore sovereign wealth fund GIC and TIDCO (Tamil Nadu Industrial Development Corporation), has leased the space in its commercial project ‘’DLF Downtown’’ at Taramani in Chennai that is being developed at a total investment of ₹5,000 crore. Tamil Nadu Chief Minister Edappadi K Palaniswami laid the foundation stone for the project in January this year.

The Downtown project will have a total leasable area of 6.8 million sq ft. In Phase 1, about 2.05 million sq ft will be developed in this project.

“This strategic partnership is a testament to the success of our vision of new-age workplaces. The building design will be unique in the country with the futuristic view of experience in the post-pandemic world. DLF Downtown project spanning over 27 acres is planned as a multi-block campus development with inter-connected office blocks at the podium level and a host of retail amenities for a perfect work-life integration,” said Amit Grover, Executive Director, DLF Offices.

DLF Downtown, which will be a mixed-use development project, is coming up in the heart of IT Corridor of Chennai that is already home to over 100+ MNCs and top Indian companies.

Published on October 21, 2020

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