BNP Paribas leases 5 lakh sq ft office in Mindspace REIT’s Chennai complex

October 12, 2026

French financial services firm BNP Paribas signed a 10-year lease for 500,000 square feet at One Radial complex. This transaction is one of the largest office deals in Chennai this year. Office rentals in the area are currently priced at ₹90 per square foot per month.

The transaction covers four floors at the complex, which has an overall campus size of about 2.6 million sq ft.

Office rentals in the micro-market are currently estimated at ₹90 per sq ft per month, with the BNP Paribas deal understood to be in a similar range, according to people familiar with the matter.

Based on these rentals, the bank's total rental payout over the 10-year lease period is estimated at around ₹550 crore, excluding rental escalations and any applicable rent-free periods, incentives or additional charges.

The deal is part of the bank's consolidation of its operations in Chennai, where it previously operated from several smaller offices. Chennai is its second-largest office market in India in terms of space occupied, after Mumbai, where the bank has offices in Bandra-Kurla Complex and Navi Mumbai.

Source:https://infra.economictimes.indiatimes.com/amp/news/corporate/bnp-paribas-leases-5-lakh-sq-ft-office-in-mindspace-reits-chennai-complex/134881203