IBM leases space at Bengaluru's Embassy Golflinks for ₹2.4 cr monthly rent

. The starting monthly rent? A hefty Rs. 2.43 crore at Rs. 150 per sq ft, backed by a Rs. 145.7 crore security deposit and 216 dedicated car parkings at Rs. 4,527 per slot.

In one of the biggest commercial real estate transactions of the year, IBM India Pvt. Ltd. has leased 161,884 sq ft of premium office space at Embassy Golflinks Business Park (EGL), Bengaluru, according to data shared by CRE Matrix, a real estate analytics firm.

 

Registered on September 23, 2025, the transaction reflects continued demand from global technology companies for Grade-A workspace in Bengaluru’s core business districts.

 

Key terms include a starting monthly rent of Rs. 2.43 crore (Rs. 150/sq ft), Rs. 145.7 crore security deposit, and 216 car parkings at Rs. 4,527/slot. The 60-month lease features April 17, 2025 handover, 45-day rent-free fit-out period (fit-out rent Rs. 63.09/sq ft; security Rs. 6.13 crore), and 36-month lock-in.

 

Deal Snapshot

 

Licensor: Golflinks Software Park Pvt. Ltd.

 

Licensee: IBM India Pvt. Ltd.

 

Leased Area: 161,884 sq ft

 

Monthly Rent: ₹2,42,82,600

 

Rent per sq ft: ₹150

 

Security Deposit: ₹14,56,95,600

 

Lease Term: 60 months

 

Lock-in Period: 36 months

 

Car Parking: 216 slots

 

Registration Date: 23 September 2025

 

The leased space spans Unit 3 & 4 (3rd Floor) and Unit 1 & 2 (4th Floor) of the Pine Valley block at EGL, Challaghatta.

 

Fit-Out Terms Reflect a Major Corporate Expansion

 

Fit-out arrangements include:

 

Fit-out Rent: ₹63.09 per sq ft

 

Fit-out Security Deposit: ₹6,12,79,569 (equivalent to six months of fit-out charges)

 

Car Parking Charges: ₹4,526.70 per slot

 

Such terms indicate a large-scale, long-term workplace buildout—typical of major technology and consulting firms expanding their delivery and engineering capacity.

 

Embassy Golflinks Business Park, one of India’s premier integrated tech campuses, has been a consistent magnet for global occupiers. Located between Koramangala and the Old Airport Road, EGL houses several Fortune 500 tenants across IT, BFSI, cybersecurity, R&D, and consulting.

 

In August 2025, phone maker Apple India has leased around 2.7 lakh square feet of office space in Bangalore for 10 years with a starting monthly rent of Rs 6.3 crore, according to data analytics firm Propstack.

 

Apple is the biggest exporter of mobile phones from India. It exported iPhones worth about Rs 1.5 lakh crore in the financial year 2024-25.

 

The company has taken multiple floors including car parking space on lease from real estate firm Embassy Group.The iPhone maker is estimated to pay more than Rs 1,000 crore in rent, car park and maintenance charge over a period of 10 years, as per Propstack, which has reviewed the registration document of this leasing transaction.According to the documents, the company has leased nine floors starting from 5th till 13th floor in Embassy Zenith.

 

In August 2025, global semiconductor major Qualcomm India Pvt Ltd leased 2.56 lakh sq ft of office space in Bengaluru for a period of five years, at a total rent of ₹184 crore, according to documents accessed by data analytics firm Propstack.The company has taken up space in Constellation Business Park, Virgo Tower, developed by Bagmane Developers Pvt Ltd, one of Bengaluru’s commercial real estate players. The lease covers the 5th, 6th, 7th, and 11th floors of the building.

 

The monthly rent is fixed at ₹113 per sq ft, amounting to a rent of ₹2.89 crore, with a security deposit of ₹5 crore. The rent commenced from August 1, 2025, and the agreement includes a 15% rent escalation every three years.

 

Last year, Amazon Development Centre India Private Limited renewed its lease for a 6.76 lakh square feet office space in the Taurus 3 facility of Constellation Business Park for a period of five years at a starting monthly rent of ₹4.92 crore.