Microchip Technology boosts presence with Rs 176 crore office purchase in Bengaluru

Microchip Technology India Pvt Ltd. the Semiconductor solutions provider has bought 1.72 lakh sq ft of office space for Rs 176 crores in Bengaluru. The office space spans across 2 blocks in the EPIP Zone along the eastern IT hub of Whitefield.

The seller of this office space is Ascendum Solutions India Pvt Ltd. Each block has a B+G+3 upper floors. The built up areas are 92,098 sq ft and 80,395 sq ft.

EPIP Zone in Whitefield is a big area in Bengaluru known for its IT parks and upcoming luxury residential projects like Prestige Evergreen. It is a well connected area with a mix of commercial and housing spaces which attracts a large number of IT people.

Previous transactions in East Bengaluru

Texas based energy firm ExxonMobil Services has renewed its lease for 5 years. It spans 5.31 lakh sq ft of office space in Whitefield for a monthly rent of Rs 2.60 crore. The office space is inside Prestige Shantiniketan. It is spread across multiple floors in Tower 1, named Crescent 1, on floors 4,5,6,7, and 8. In tower 2, named Crescent 2, the floors 1, 2,4,5,6, and 7 were occupied.

Google IT Services India also renewed its lease in April 2025, for 8.7 lakh sq ft of office space in Doddanekkundi, East Bengaluru. It was done with an annual rent of Rs 90 crore. It was a 5 year agreement that was registered in April. It will cover office spaces in East Towers at Bagmane Capital Business Park and Kyoto West.

The company previously leased an office space under Google Connect Services India Pvt Ltd. The time period was from 4th Feb 2020 to 24th Nov 2024. The lease was then renewed through Google IT Services India, which was one of the company's affiliates.

Whitefield still holds a strong growth hub for office real estate. It is driven by metro access and robust demand from both global hubs and local firms. The area is seeing a high leasing activity, recently from builders like Brigade Group and Sumadhura Group. Whitefield is also a focus for managed office spaces, launching its flex space vertical Workship with the Sumadhura Group.