Tag: Bengaluru office market

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BlackRock Signs 1.43 Lakh Sq. Ft. Office Lease with IndiQube

BlackRock Services India, the local branch of the world’s largest asset manager, has secured a new office lease for approximately 143,000 square feet at IndiQube Symphony on MG Road in Bangalore’s central business district (CBD). The 10-year lease agreement has a total rental commitment of Rs 410 crore, ranking it among the largest enterprise flexible space transactions in recent months. The lease, which was registered earlier this month, will take effect on October 1, 2025. BlackRock will pay a monthly rent of Rs 2.72 crore at Rs 190 per square foot, supported by a security deposit of Rs 21.75 crore.…

CommercialLatest Stories

Microchip Acquires Bengaluru Office Space for ₹176 Crore

Representative image Bengaluru: Microchip Technology, a US-based semiconductor leader, has acquired 1.72 lakh sq ft of office space in Whitefield for ₹176 crore. This is one of the largest office buyouts in the city this quarter. According to the registered sale deed from Propstack, the purchase consists of two commercial blocks located at 170-172, Phase 2, EPIP Zone, Whitefield. The seller, Ascendum Solution India, is a part of Cincinnati’s Vora Group, which is involved in IT services, business solutions, and real estate. The office space comprises two blocks measuring 92,098 sq ft and 80,395 sq ft, each featuring a basement,…

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India’s Office Market to Surpass 1 Billion Sq Ft: Report

NEW DELHI: A recent report by Knight Frank India indicates that India’s total office stock will exceed one billion square feet by Q3 2025. The report reveals that the cumulative office space in the top eight Indian cities was 993 million sq ft as of H1 2025. From less than 200 million sq ft in 2005, the office supply has experienced a compound annual growth rate (CAGR) of 8.6%, approaching one billion sq ft by 2025. Bengaluru currently leads with 229 million sq ft, representing 23% of India’s total office stock. It is followed by the National Capital Region (NCR)…

CommercialLatest Stories

GCCs Hold 42% of India’s Office Leasing in FY25: Report

AI-generated image (representative) NEW DELHI: Global Capability Centres (GCCs) have solidified their role in India’s office leasing landscape for FY25, contributing to 42% of total office space absorption nationwide, a slight increase from 41% the previous year, as reported by Vestian, a real estate consultancy firm. During the fiscal year, GCCs leased 31.8 million sq ft of office space, marking a substantial 24% growth year-on-year. Despite a 4% drop in the number of GCC transactions to 305 deals, the average leased area per transaction has increased, indicating a shift towards larger office spaces and long-term expansion plans. The report notes…