India, Oct. 12 -- Global banking major BNP Paribas has leased around 5 lakh sq ft of office space across four floors at One Radial, a commercial complex owned by Mindspace Business Parks REIT in Chennai, for a 10-year term, sources said.

Office rentals in the area are around Rs.90 per sq ft per month, according to people familiar with the transaction.

The deal comes amid demand for large office spaces from multinational companies setting up or expanding their global capability centres (GCCs) in India.

Mindspace REIT has a growing presence in Chennai, with a total leasable area of 6.3 million sq. ft. across Commerzone Porur, Commerzone Pallikaranai and the recently acquired One Radial. The portfolio comprises 5.1 million sq. ft. of comp...