Google Connect Services India renews lease for 6 lakh sq ft of office space in Hyderabad

Representative image.

Google Connect Services India Pvt Ltd has renewed its lease for around 6 lakh sq ft of office space in Hyderabad for three years at an annual rent of Rs 37.03 crore, documents accessed by Propstack showed

The firm has leased the ground, first, second, third, eighth and ninth floors in the building Meenakshi Technova spread across an area of 29,1708 sq ft, and the ground, fourth, fifth, sixth, seventh and tenth floors spread across 29,1708 sq ft. It has paid a deposit of Rs 28 crore, the documents showed.

The lease has been renewed from October 2022 to October 2025 at a rent of Rs 52.90 per sq ft. The total area leased by the company now stands at 583416.75 sq ft.

The documents were registered on November 11, 2022.

The commercial complex is located in the business suburb of Nanakaramguda. It is home to several corporate firms.

There was no response from Cardinal Energy and Infrastructure Private Limited, the confirming party. A response from Google Connect Services is awaited.

It should be noted that the confirming party has constructed the building Technova comprising three basement levels, one ground floor and 10 upper floors.

“This transaction is yet another indicator of how large technology companies like Google are implementing their cloud strategy in India.  While most companies are focused on cloud computing, there are very few cloud-native companies. Cloud native is an approach to building and running applications that exploits the advantages of the cloud computing delivery model. When companies build and operate using a cloud-native architecture, they bring new ideas to market faster and respond sooner to customer demands. With these expansions, customers will experience an enhanced level of service from Google,” said Raja Seetharaman, co-founder of Propstack.

In October, DC Development Noida Limited, an entity of Adani Enterprises, subleased around 4.64 lakh sq ft of space to Raiden Infotech India Private Limited, a Google Inc company, in Noida, for 10 years with a starting monthly rent of Rs 10.90 crore. Google had leased space in Adani Data Centre located in Sector 62, Noida.

The total leasing of office space, which comprises demand for all grades of buildings, fell 21 percent year-on-year in October across seven major cities to 6.7 million square feet on lower demand, according to property consultant JLL India.

The aggregate office market leasing activities refer to transactions for all grades or types of buildings in the top seven cities (Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata). The data includes confirmed pre-commitments and term renewals. Deals in the discussion stage are not included.