Tata Consultancy Services (TCS) has solidified its presence in Bengaluru with a massive lease deal for office space at 360 Business Park in Electronic City. The Mumbai-headquartered IT giant has signed a 15-year lease for 1.4 million square feet, making it one of the largest office transactions in Bengaluru in recent years.
The deal, valued at ₹2,130 crore, involves a monthly rental payment of ₹9.31 crore, which translates to ₹66.5 per square foot. In addition to the monthly rent, TCS has also made a security deposit of ₹112 crore. The lease agreement includes a 12% escalation clause every three years.
The leased space comprises Towers 5A and 5B within 360 Business Park, with 6.8 lakh sq ft in Tower 5A and 7.2 lakh sq ft in Tower 5B. The landlord for this deal is Labzone Electronics City Pvt Ltd.
The lease commencement is structured in two phases, with the first phase, covering the ground floor plus seven additional floors, starting on April 1, 2026. The second phase, encompassing floors eight through thirteen, will begin on August 1, 2026.
This expansion reflects TCS's continued investment in infrastructure and campuses across India. Property consultants suggest that as employees return to work, the demand for office spaces has increased, driving companies like TCS to expand their real estate footprint. This deal also signifies strong corporate confidence in the Indian office market, which positively influences commercial real estate valuations and rental yields.
Other major companies are also securing large office spaces in India's top cities. Amazon has leased over 1.1 million sq ft from Sattva Group in Bengaluru, and Google India has taken 1.6 million sq ft at Bagmane Rio Park, also in Bengaluru. Google has also renewed its lease for 370,000 sq ft at Sattva Knowledge Capital in Hyderabad. In Mumbai, JP Morgan has leased over 1.16 million sq ft at Nirlon Knowledge Park, and Morgan Stanley has signed for 1 million sq ft at Oberoi Commerze III.
This significant lease by TCS is expected to have a substantial economic impact, supporting the expansion of India's IT infrastructure and generating demand for construction, facility management, and other ancillary services. This will further create jobs and stimulate economic activity in related sectors. In addition to this lease, TCS has also secured land on a 99-year lease in Visakhapatnam, acquired additional office space in Coimbatore and Hyderabad, and is developing major projects in Kolkata, potentially adding approximately 16,500 new seats.
