Chennai: IndiQube leases 1.5 lakh sq ft office space in Ekkattuthangal

CHENNAI: Ekkattuthangal has emerged as the first metro station in the city to house a massive private office space facility on a land parcel belonging to the Chennai Metro Rail Limited (CMRL).

Leading tech enabled flex space start-up, IndiQube, has leased over 1.5 lakh sq ft of property, where a G+11 Multi-Storey Building (MSB) is under construction. The structure with a capacity of more than 3,000 seats is likely operational by February, 2023.

Real estate experts stressed that metro rail connectivity has been a game-changer in the office space activity with several developers eying land parcels in the vicinity of metro stations. They cited a recent development, where five companies including MNCs HP Enterprise and Emirates Bank had combinedly leased 3.5 lakh sq ft of office space at a commercial office building developed by Prestige group near Thousand Lights metro station.

At Ekkattuthangal, IndiQube has recently signed the property developed by BNR Estates on CMRL leased land. It has a huge parking space next to the metro station to accommodate over 140 cars and 500 two-wheelers. IndiQube has leased the property for a period of 12 years. However, the value of the lease deal was not disclosed.

Rishi Das, cofounder and chairman of IndiQube said, Ekkattuthangal will be the largest facility of their company in Chennai. “By March next year (2023), we intend to have our first customer. We are looking at sectors such as enterprise companies including startups, offshore development centres and IT/ITES for occupancy,” he told TOI.