Mumbai-based Tata Consultancy Services (TCS) has secured a new lease for 1.4 million square feet of office space at 360 Business Park in Electronic City. This represents one of the largest office transactions in Bengaluru in recent years.
Lease documents obtained by TOI through Propstack indicate that the agreement includes Towers 5A and 5B, consisting of 6.8 lakh square feet in Tower 5A and 7.2 lakh square feet in Tower 5B. The landlord for this space is Labzone Electronics City Pvt Ltd.
The agreement is structured in two phases. The first phase, which encompasses the ground floor plus seven floors, is set to begin on April 1, 2026. The second phase, covering floors eight through thirteen, will commence on August 1, 2026. The total lease duration is 15 years.
TCS will pay a monthly rent of Rs 9.31 crore at a rate of Rs 66.5 per square foot, along with a security deposit of Rs 112 crore. The documents also indicate a 12% rent escalation every three years, with the total expenditure over the lease period estimated at around Rs 2,130 crore.
The development consists of three basements, a ground floor, and 13 upper floors. With this lease, TCS is reinforcing its footprint in Bengaluru’s southern IT corridor, which continues to attract demand for large contiguous office spaces among leading tech firms.
This transaction is part of a larger trend wherein global technology and financial services companies are acquiring substantial office spaces across India’s major cities. For example, Amazon is leasing over 1.1 million square feet from Sattva Group in Bengaluru, while Google India has secured 1.6 million square feet at Bagmane Rio Park. Google has also renewed its lease for 3.7 lakh square feet at Sattva Knowledge Capital in Hyderabad.
Financial services firms are actively engaging as well, with JP Morgan leasing over 1.16 million square feet at Nirlon Knowledge Park in Goregaon, Mumbai, and Morgan Stanley signing for 1 million square feet at Oberoi Commerze III in the same suburb with an initial monthly rental of Rs 15.96 crore. Qualcomm has also acquired more than 1.5 million square feet across a 20-story tower in K Raheja Corp’s IT park in Hyderabad.
These deals highlight the scale at which global companies are consolidating and expanding within India’s key office markets, particularly in Bengaluru, Hyderabad, and Mumbai, which continue to host some of the country’s largest leases.
