TCS leases 1.4M sq. ft. office space for Rs. 2130 Crores in Electronic City, Bengaluru

Tata Consultancy Services (TCS) has signed a lease for 1.4 million sq ft of office space at Bengaluru’s 360 Business Park in Electronic City. It is one of the largest office transactions in recent years in Bengaluru.

The deal will cover Towers 5A and 5B in the project. It will have 6.8 lakh sq ft in Tower 5A, and in Tower 5B, it will have 7.2 lakh sq ft. The landlord of the lease is Labzone Electronics City Pvt Ltd.

The agreement that is signed is divided into two phases. The first phase will cover G+7 upper floors, and it will start from 1st April 2026. The second phase will cover floors from 8 to 13, and it starts on 1st August 2026. The lease has a total tenure of 15 years.

Rent from TCS

TCS will pay a rent of Rs 9.31 crores monthly at Rs 66.5 per sq ft of office space. There will be a security deposit payment of Rs. 112 crores. The documents will show a 12% escalation every 3 years. The outlay over the lease period is around Rs 2130 crore.

It will include three basements with a G+13 upper floor. With this new lease, TCS is growing its presence in Bengaluru’s IT corridor in the South zone, where large spaces remain in demand among top IT services firms.

With this office space, the residential real estate market will also develop as people will like to invest near their workplace. Upcoming ultra luxury projects like Prestige Evergreen, which is near prime IT hubs of Bengaluru, will give high ROI on investing.

Leasing of office spaces by top IT firms

The transaction is part of a broad trend of global technology locking in big office spaces across India’s top cities. Amazon is now leasing 1.1 million sq ft from Sattva Group in Bengaluru. Google India has leased 1.6 million sq ft at Bengaluru’s Bagmane Rio Park. Google renewed its lease for 3.7 lakh sq ft in Hyderabad, too, at Sattva Knowledge Capital.

JP Morgan leased 1.16 million sq ft at Nirlon Knowledge Park in Goregaon. Morgan Stanley has leased 1 million sq ft at Oberoi Commerze III in Goregaon. The starting monthly rental price is Rs 15.96 crores. Qualcomm has picked 1.5 million sq ft office space spread across 20 storey towers in Hyderabad’s K Raheja Corp’s IT Park.

These transactions show how the global firms are expanding in India’s major office markets. Out of all the cities, Hyderabad, Bengaluru, and Mumbai attract some of the country’s biggest leases.

Prestige Group is a prelaunch apartment is Prestige Evergreen.