Chubb expands Hyd office footprint

Insurance major adds three floors at Madhapur’s Salarpuria Knowledge City

Property Pulse

Chubb Business Services India Pvt Ltd has expanded its Hyderabad office footprint by leasing 1,68,576 sq ft at Salarpuria Knowledge City in Madhapur. The latest transaction takes the company’s total office space at the project to about 2.19 lakh sq ft, with its overall rental commitment expected to reach around ₹115 crore.

Chubb has leased the 12th, 14th and 16th floors of the Octave Block from Devabhumi Realtors Pvt Ltd. The company had earlier leased the 15th floor of the same building in October 2022.

According to registration documents, the new space carries an initial monthly rent of ₹132.80 per sq ft. The lease agreements provide for a 5 per cent annual escalation in rent.

The leases for the 12th and 14th floors have a five-year tenure and commenced in July 2025, while the 16th floor has been leased for two years from June 2026. The transaction was registered on July 28, 2026.

Chubb has also paid a security deposit of ₹21.24 crore as part of the transaction.

The expansion adds to Hyderabad’s recent office leasing activity, with global companies continuing to consolidate and expand their operations in established commercial locations. Madhapur, Hitec City, Gachibowli, the Financial District and Kondapur remain key office markets for large corporate occupiers.            

Lease Details

• 1,68,576 sq ft additional office space leased.
• 2.19 lakh sq ft total Chubb footprint at the project.
• ₹132.80 per sq ft initial monthly rent.
• 5% annual rent escalation.
• ₹21.24 crore security deposit.
• Three floors — 12th, 14th and 16th floors leased.