Outsourcing giant Convergys has left its iconic structure in Cyber City and relocated to office on Sohna Road, Gurgaon after rents in the IT hub hiked in the anticipation of Rapid Metro launch.

The giant firm didn’t renew its deed for its office in DLF Atria, whose rent shot up 33 pc in recent months to Rs 107 per sq ft. The standard rates for office space in Cyber City before the launch were Rs 80 per sq ft.

In the contrast, office space on Sohna Road is available for Rs 40 per sq ft. Hyped as the next property on Gurgaon’s real estate map, Sohna Road has more than low rents working n its favor. It has proximity to NH-8 and has master class office space, though it can’t compare with Cyber City yet in terms of connectivity.

Converges, which provides outsourcing services to 500 firms across the globe, was one of the first BPOs to set up base in Cyber City. It moved into the multi-storeyed structure nine years ago and has 6,000 staff.

The DLF clarified that the realty giant has through a deal with an Oil firm to rent out Atria for eye raising Rs 25 crore per annum before the outsourcing giant decided not to renew its deed. Rentals are moving high because of improved infra and Rapid Metro’s last-mile connectivity that gives the edge to Cyber City.

In Cyber City, over 1 lakh sq ft properties owned by DLF are up for grab. Experts are not taken aback by this decision as it was in cards. A lot of big corporates are looking for SEZs, where the rents are low and have better facilities.