Versigent leases nearly 3 lakh sq ft of industrial space in Chennai

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The Economic Times daily newspaper is available online now. Read Today's Paper Versigent leases nearly 3 lakh sq ft of industrial space in ChennaiBy Kailash Babar, ET BureauLast Updated: Oct 27, 2026, 08:41:00 PM ISTSynopsis

The company will pay a monthly rent of Rs 1.08 crore for the space, at a rate of Rs 37 per sq ft per month. The agreement includes a security deposit of Rs 6.48 crore and provides for a 15% escalation in rent every three years.

MUMBAI: Switzerland-based Versigent PLC has picked up nearly three lakh sq ft of industrial space at IndoSpace Industrial Park in Vallam, Chennai, through a long-term lease of 10 years.

The company will pay a monthly rent of Rs 1.08 crore for the space, at a rate of Rs 37 per sq ft per month. The agreement includes a security deposit of Rs 6.48 crore and provides for a 15% escalation in rent every three years.

The fresh lease, signed by Versigent India with IndoSpace Industrial Park, covers 291,767 sq ft of chargeable area and is scheduled to commence on April 1, 2027, showed documents accessed through realty data analytics platform Propstack.

Versigent PLC designs, manufactures and distributes low- and high-voltage power electrical architectures, signal solutions and electric vehicle charging systems. Its product portfolio spans electrical systems and connectivity solutions used across industrial and mobility applications.

The lease provides the company access to a sizeable industrial facility within an organised industrial park in Chennai. Such facilities can accommodate manufacturing and related operational requirements, with access to supporting infrastructure and transport connectivity.

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ET’s separate email queries to Versigent and IndoSpace remained unanswered until the time of going to press.

Chennai is one of India’s established manufacturing centres, with a presence across automotive, electronics and engineering industries. The city and its surrounding industrial corridors host vehicle manufacturers, component suppliers and other industrial companies, supporting demand for facilities used for production and associated supply-chain activities.

India’s industrial and logistics park real estate sector is witnessing an unprecedented surge, fueled by robust manufacturing expansion, rapid e-commerce penetration, and the strategic evolution of third-party logistics (3PL) providers. As multinational corporations prioritize supply chain resilience and transition toward modern, tech-enabled automation, the demand for optimized built-to-suit logistics infrastructure across India continues to outpace historic benchmarks.

IndoSpace develops and operates industrial and logistics parks across India. Its facilities cater to companies requiring space for manufacturing, storage and distribution. Organised industrial parks provide businesses with infrastructure within designated developments rather than requiring them to independently assemble facilities and supporting services.

The 10-year agreement provides a long-term occupancy arrangement for Versigent India, with the rental escalation clause allowing the landlord to revise the rent at three-year intervals during the lease period.
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