Sopra Steria India Limited, a technology and digital services firm based in France, has finalised a lease for 4.75 lakh sq ft of office space in Noida. This agreement spans a period of 15 years, with a total rental commitment amounting to ₹816 crore, as per documents reviewed by Propstack. The leased space includes the ground floor and 17 upper floors of Towers A and B at Maconns Grand, located in Sector 132, Noida. The landlord for this transaction is Maconns Infra Private Limited.

The lease officially covering a chargeable area of approximately 4.74 lakh sq ft. The monthly rental fee is set at ₹3.75 crore, which equates to around ₹79.2 per sq ft. Additionally, the lease stipulates a security deposit of ₹20.48 crore and includes a rent escalation clause of 10 per cent every three years.

As part of the agreement, Sopra Steria will also benefit from 1,125 car parking spaces at no extra cost, as indicated in the documentation. Efforts to obtain comments from Sopra Steria India Limited and Maconns Infra Private Limited were unsuccessful.

Market Context and Trends

The commitment by Sopra Steria to establish a dedicated campus at Maconns Grand underscores the increasing trend among global technology firms to secure long-term, customised operational bases in the National Capital Region (NCR). The Noida Expressway is progressively becoming a key institutional corridor that supports expansive enterprise ecosystems. Such lengthy lease agreements reflect a strong confidence in high-quality infrastructure and tailored office environments that can adapt to workforce growth over multiple years.

Raja Seetharaman, co-founder of Propstack, highlighted that this trend illustrates a growing preference for bespoke office spaces among tech occupiers. He noted that long-term commitments like this one indicate a belief in the region’s capacity to accommodate future expansion.

In addition to Sopra Steria’s lease, there have been other significant commercial real estate transactions in Noida recently. For instance, Adobe announced an expansion of its office space by leasing over 1.58 lakh sq ft at Max Square, developed by Max Estates Limited, along the Noida-Greater Noida Expressway.

Other Notable Transactions in Noida

Accenture has also secured nearly 1.65 lakh sq ft of office space in Noida for a five-year term, with a total rental expenditure of ₹195 crore. This space was leased from Onward Coworkx Pvt Ltd, as confirmed by property registration documents accessed by Propstack. Furthermore, MetLife Global Operations Support Centre Private Limited has leased 75,000 sq ft of office space at Oxygen Business Park in Noida, owned by Embassy Office Parks Real Estate Investment Trust, at a monthly rent of approximately ₹41.84 lakh for a five-year duration.

According to a report by Knight Frank India, the occupied office stock across eight major markets in India grew by 7 per cent year-on-year, reaching 917.7 million sq ft as of September 30, 2026, up from 859.4 million sq ft the previous year. This increase of 58.3 million sq ft indicates ongoing expansion within the country’s key commercial real estate markets.

Bengaluru continues to hold the title of the largest office market in India, while Pune has surpassed the 100 million sq ft mark. The National Capital Region remains the second-largest office market in the country, with occupied office stock rising by 2 per cent year-on-year to 178.3 million sq ft as of September 30, 2026, compared to 175 million sq ft a year earlier.

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