BENGALURU | MUMBAI: Tata Realty and Infrastructure Ltd (TRIL) has finalized a binding agreement to purchase over 38 acres in Bengaluru from Hinduja Group companies Gulf Oil Corp and Hinduja Realty Ventures for approximately Rs 2,300 crore. This transaction represents the largest land acquisition, both in scale and value, ever completed in Bengaluru, and ranks among the largest in India.
The deal highlights sustained investor confidence in Bengaluru’s office market, which recorded over 20 million sq ft of office space leased in 2025, securing its position as one of the leading markets for office space absorption in the Asia Pacific region.
“The binding document has been signed. The acquisition will be executed through the company’s wholly owned subsidiaries (special purpose vehicles), which will disburse payments in phases upon completion and registration of the sale deed,” a source familiar with the transaction mentioned.
Prior interest in the property was shown by private equity giant Blackstone, which considered it as part of its India office and mixed-use investment strategy. TRIL’s agreement for the land indicates a growing competitive landscape where domestic institutional developers are vying with global investors for premium land assets.
“This acquisition underscores the parcel’s premium characteristics and its strategic position within Bengaluru’s commercial corridor,” commented a source.
CBRE, the advisor for the deal, was unavailable for comments, and inquiries sent to Hinduja have yet to be addressed.
The property has attracted the attention of various investors due to its significant scale and clear title. Plans for the site include developing a Grade A office-led campus, targeting multinational tenants and global capability centers (GCCs) in North Bengaluru.
“While Blackstone opted out of the acquisition, its previous interest indicates the institutional allure of large, clean land parcels in core office markets like Bengaluru, where the availability of such assets is limited,” noted a source.
This acquisition aligns with TRIL’s strategy to enhance its commercial office portfolio across India’s major cities. The company is committed to building a pipeline of large-scale office developments with a focus on long-term rental income and top-tier assets.
In a recently concluded deal, TRIL procured 25.3 acres in Bengaluru’s Whitefield-Doddanekundi area for around Rs 986 crore. With the latest acquisition from Hinduja, the company is fast-tracking its efforts to create integrated office parks.
TRIL is estimated to be developing a robust pipeline of nearly 5 million sq ft in Bengaluru, fueled by investments of around Rs 4,000 crore. The focus remains on high-quality campuses that cater to GCCs, technology firms, and financial service occupiers.
India’s office market continues to exhibit resilience, supported by consistent demand from GCCs and global firms. Experts suggest that developers like TRIL are leveraging this demand by acquiring sizable land parcels with flexible development options. With vacancy rates stabilizing and rents rising in key micro-markets, office developments on the Hinduja land are expected to yield significant long-term value.
This transaction also indicates a broader transformation within India’s real estate sector, where well-capitalized domestic players are now directly competing with global private equity firms for high-quality assets, altering the dynamics of deals in the country’s commercial property market.
