Israel Aerospace India Services Pvt Ltd, a subsidiary of Israel Aerospace Industries (IAI), has secured a 45,277 sq ft office lease at Intellion IT Park, Tower 1, Gurugram, according to property records reviewed by Propstack. The lease, structured for a five-year term commencing on 5 May 2025, carries a monthly rent of ₹32.14 lakh, totaling approximately ₹20.5 crore over the tenure, with a 15% escalation scheduled every three years.
The leased space occupies the 12th floor of the IT tower and was acquired from Mikado Realtors Pvt Ltd, a Tata Group entity operating under Tata Realty and Infrastructure Ltd, at a rate of ₹71 per sq ft per month. The security deposit for the transaction is documented at ₹1.6 crore. The Letter of Intent for the lease was signed on 25 August 2023, and the transaction has received all necessary SEZ approvals, permitting Israel Aerospace India Services to undertake IT-enabled services including repair, maintenance, business support, and related operations.
Intellion IT Park is strategically located off Golf Course Extension Road in Gurugram, providing robust connectivity to key arterial routes such as Golf Course Road, MG Road, Faridabad Road, Sohna Road, and NH-8. Its proximity to Delhi further enhances its appeal as a commercial hub for both domestic and multinational enterprises.
IAI, Israel’s largest aerospace and astronautics manufacturer, supplies advanced systems for military and civilian applications globally. The Indian subsidiary’s lease forms part of the company’s broader strategy to expand operations in India under the Make-in-India initiative. The establishment of Aerospace Services India aims to develop a large-scale maintenance, repair, and overhaul (MRO) hub for defence equipment, generating employment and fostering technological capabilities in Gurugram.
In a statement issued on its official website, IAI highlighted the subsidiary’s commitment to expanding cooperation with India, supporting self-reliance in advanced manufacturing, technical services, and innovative technology solutions. This move aligns with the government’s focus on domestic capability building in defence and aerospace sectors.
Industry observers note that Gurugram continues to attract international and national companies seeking high-quality office space. In January 2025, German IT services firm Nagarro Enterprise Services Pvt Ltd leased over 7 lakh sq ft of commercial space in Sector 18 Gurugram at a monthly rent of ₹2.90 crore, with a security deposit of ₹10 crore. The transaction involved a property constructed by Chimera Developers LLP and demonstrates continued demand for premium office space in the region.
Similarly, in April 2025, Table Space Technologies Pvt Ltd, a flexible workspace provider, leased 5.34 lakh sq ft at Intellion Park, Sector 59, Gurugram, at ₹3.47 crore per month. Reports indicate that the leased space is intended for tech giant Google. The stamp duty for this transaction amounted to ₹2.49 crore.
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