Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
IBM India Pvt. Ltd. has signed a five year lease for about 1.61 lakh sq ft of office space at Embassy Golflinks Business Park in Bengaluru, with a monthly rent of around INR 2.4 crore at INR 150 per sq ft. The agreement includes a 45 day rent free period for fit out, a three year lock in, and a security deposit of INR 14.5 crore. The company will also pay fit out charges and has secured 216 parking slots. This move aligns with IBM's earlier office expansions in the city.
IBM India Pvt. Ltd. has leased over 1.61 lakh sq ft of office space at Embassy Golflinks Business Park, Bengaluru, for a period of five years. The monthly rent is approximately INR 2.4 crore, calculated at a rate of INR 150 per sq ft. The leased floors are the third and fourth floors of the Pine Valley block at the business park, located in Challaghatta, Varthur Hobli. Advertisement
The lease includes a 45 day rent free period to allow IBM to complete the fit out. The agreement also has a three year lock in clause and a security deposit of INR 14.5 crore. Fit out charges have been set at INR 63.09 per sq ft, with an additional fit out security deposit of INR 6.12 crore, equivalent to six months of fit out fees. IBM has secured 216 car parking slots, with parking fees of approximately INR 4,526.7 per slot.
The official handover of the premises took place earlier this year in mid April, while the lease deed was registered in late September. This new space is part of IBM India's ongoing expansion in Bengaluru, following an earlier lease of around 1.1 lakh sq ft at DivyaSree Greens, Inner Ring Road, leased from Table Space.
IBM India had also signed significant long-term office leases in the city over the past few years, including more than 8 lakh sq ft across multiple buildings within Embassy Golflinks Business Park, under agreements that spanned a decade with structured rent escalations. These arrangements demonstrate IBM's strategy to consolidate its presence in Bengaluru while maintaining access to quality Grade-A office space.
The current lease reflects broader trends in Bengaluru's commercial real estate market, where global technology companies continue to prefer premium office spaces with fit-out periods, security deposits, and structured lease terms. Such arrangements help companies balance operational flexibility with long-term occupancy stability.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
