Bengaluru: Mumbai-headquartered Tata Consultancy Services (TCS) has inked a lease for 1.4 million square feet of office space at 360 Business Park in Bengaluru’s Electronic City, in what is being hailed as one of the city’s largest commercial property deals in recent years, according to Propstack lease records.
The lease covers Towers 5A and 5B of the development, with 680,000 sq ft in Tower 5A and 720,000 sq ft in Tower 5B, both of which are owned by Labzone Electronics City Pvt Ltd. The agreement will be executed in two stages. The first, spanning the ground floor and seven upper levels, is set to begin on April 1, 2026, while the second, comprising floors eight to thirteen, will take effect on August 1, 2026.
Valued at Rs 9.31 crore per month at Rs 66.5 per sq ft, the 15-year lease also includes a security deposit of Rs 112 crore. With a 12 per cent rent escalation every three years, the total projected outlay over the lease term is estimated at Rs 2,130 crore.
TCS’s strengthens its position in Bengaluru’s IT set up
360 Business Park, featuring three basement levels, a ground floor, and 13 upper floors, will further strengthen TCS’s presence in Bengaluru’s southern IT corridor, a region witnessing strong demand for large, contiguous office spaces among top technology firms.
This expansion forms part of TCS’s wider infrastructure investment strategy, which exceeds Rs 4,500 crore across new campuses, leased offices, and long-term developments nationwide. In Bengaluru alone, the company has acquired 1.4–1.6 million sq ft from Sattva–Darshita Southern India Happy Homes for Rs 2,250 crore, and 3.2 million sq ft from TRIL for Rs 1,625 crore, expected to accommodate around 25,000 employees.
Broader trend in India’s office leasing market
TCS’s massive lease reflects a wider trend of large-scale office deals by global technology and financial services firms in India. Amazon has leased 1.1 million sq ft from the Sattva Group in Bengaluru, while Google India has secured 1.6 million sq ft at Bagmane Rio Park in Bengaluru and renewed 370,000 sq ft at Sattva Knowledge Capital in Hyderabad.