India, Oct. 27 -- Versigent India Private Limited has leased 2.91 lakh sq ft of industrial space at IndoSpace Industrial Park Vallam in Chennai for 10 years at a monthly rent of Rs.1.08 crore, according to documents accessed by Propstack.

The lease will commence on April 1, 2027, at a rental rate of Rs.37 per sq ft per month. The company has paid a security deposit of Rs.6.48 crore, with a 15% rental escalation every three years, the documents showed.

The lease agreement also provides for a green initiative involving solar power installations at the lessee's request. The lessor will enter into separate contracts with the relevant service providers for implementation, the documents showed.

Versigent PLC designs, manufactures and distrib...