BNP Paribas Expands Its Office Space in Chennai
One Radial, a business complex owned by Mindspace Business Parks REIT in Chennai, has reportedly leased nearly 5 lakh sq ft of office space to French banking major BNP Paribas. Reported on 12 October 2026, the transaction is described in the source article as one of Chennai’s largest office lease deals of the year.
The lease covers four floors within the complex, which the source document describes as spanning more than 26 lakh sq ft. The ten-year term underlines Chennai’s appeal to global companies seeking established office infrastructure, access to skilled talent and efficient business operations.
What the Long-Term Lease Could Mean for Commercial Real Estate
According to a report cited in the submitted document, office rent in the One Radial micro-market is estimated at around ₹90 per sq ft per month. Using that rate, the article calculates a potential ten-year rental commitment of approximately ₹550 crore, excluding escalations, rent-free periods, incentives and other charges. This is a calculated estimate, not the disclosed final value of the lease.
The source article also says the transaction follows plans by BNP Paribas to consolidate multiple Chennai offices into one location. A large, long-term lease can improve rental-income visibility for a property owner and strengthen a business park’s position among corporate occupiers.
Outlook for Chennai’s Office Market
Chennai’s established business ecosystem, operating costs and skilled workforce continue to support its appeal to corporate occupiers. Large transactions can reinforce demand for Grade A commercial properties and encourage investment in office infrastructure, although future market performance will depend on leasing trends, corporate expansion and wider economic conditions.
Greater activity across Mindspace REIT’s Chennai assets—including One Radial, Commerzone Porur and Commerzone Pallikaranai—may also create opportunities for workplace-related services such as facilities management, building operations, maintenance, transport and food services.
Summary
BNP Paribas has reportedly leased approximately 5 lakh sq ft at Chennai’s One Radial complex for ten years. The deal highlights demand for Grade A office space and Chennai’s appeal to global corporate occupiers.
