Bengaluru’s technology hub is preparing to welcome a major addition, with Tata Consultancy Services (TCS) finalizing one of the city’s biggest office space agreements in recent years. The Mumbai-headquartered IT services giant has leased 1.4 million square feet at 360 Business Park in Electronic City, marking a significant expansion in the southern cluster of the city’s IT corridor.
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Details of the office lease
The lease covers Towers 5A and 5B of the complex, offering 680,000 square feet and 720,000 square feet respectively. Labzone Electronics City Pvt Ltd is the developer of the property, which includes three basement levels, a ground floor, and 13 upper floors.
TCS will pay a monthly rent of Rs 9.31 crore, calculated at Rs 66.5 per square foot, along with a security deposit of Rs 112 crore. The rental agreement carries a 12% escalation every three years, with the w across the 15-year tenure estimated total outfloat around Rs 2,130 crore.
The occupation of the premises will be executed in two phases. The first stage, covering the ground floor and the first seven levels, is scheduled to commence in April 2026, while the remaining upper floors will be occupied by August the same year.
The deal underscores the continued appetite for large-scale office facilities in India’s key technology hubs. Similar long-term commitments have recently been announced by Amazon, Google, Qualcomm, and leading global financial firms, reaffirming Bengaluru, Hyderabad, and Mumbai as primary destinations for corporate consolidation.