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Intuit has leased over 6.3 lakh sq ft of office space at Embassy TechVillage on Outer Ring Road, Bengaluru, in a deal valued at around INR 915 crore. The long-term lease, registered in recent weeks, marks one of Bengaluru’s larger office transactions this year. The deal highlights continued demand from multinational technology firms for large Grade A office campuses in established commercial corridors. Outer Ring Road remains among Bengaluru’s most active office micro-markets, driven by technology occupiers and global capability centres expanding operations in the city.
Intuit has leased more than 6.3 lakh sq ft of office space at Embassy TechVillage on Outer Ring Road, Bengaluru, in a transaction valued at approximately INR 915 crore, according to property registration documents reviewed by Propstack. The lease agreement was registered in recent weeks and ranks among the larger commercial office transactions recorded in Bengaluru this year. Advertisement
The office space has been leased from entities linked to Embassy Office Parks REIT at Embassy TechVillage, one of Bengaluru’s largest integrated office parks. The transaction involves multiple floors across office towers within the commercial campus located in the city’s Outer Ring Road micro-market, a key office corridor that houses several multinational technology companies and global capability centres.
According to the registration documents, the total leased area exceeds 6.3 lakh sq ft, while the overall transaction value over the lease tenure is estimated at around INR 915 crore. The agreement also includes provisions related to common area maintenance charges, parking allocations and periodic rental escalations over the tenure of the lease.
The transaction adds to a series of large-scale office leasing deals signed by global technology and financial services companies in Bengaluru over the past year. The city has continued to witness strong demand for Grade A office assets despite hybrid working models adopted by several occupiers following the pandemic. Industry consultants have indicated that large occupiers are increasingly consolidating operations within integrated office parks that offer scalable workspace, transport connectivity and campus-style infrastructure.
Embassy TechVillage, located in Devarabeesanahalli along the Outer Ring Road corridor, is among the prominent office developments in Bengaluru’s commercial real estate market. The business park houses occupiers across technology, financial services and consulting sectors and forms part of Embassy REIT’s larger office portfolio across India.
Outer Ring Road continues to account for a substantial share of Bengaluru’s office leasing activity, supported by proximity to technology clusters, residential catchments and metro connectivity projects under implementation. Real estate consultants have stated that multinational occupiers continue to prefer established office districts with ready infrastructure and large contiguous floor plates capable of accommodating workforce expansion.
The latest lease transaction also reflects sustained momentum in India’s commercial office market, particularly in Bengaluru, Hyderabad and Pune, where global capability centres and multinational technology companies remain among the largest occupier groups. Several technology firms have expanded leasing activity in recent quarters as companies recalibrate workplace strategies and strengthen long-term operational presence in India.
According to market data released by property consultants in recent months, Bengaluru remained the country’s largest office leasing market by absorption during the previous financial year, with technology companies accounting for a significant portion of total demand.
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