Now Reading: IBM India leases 2.83 lakh sq ft in Bengaluru for Rs 343 crore
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IBM India leases 2.83 lakh sq ft in Bengaluru for Rs 343 crore
The Story in Brief
IBM India Ltd has leased 2,83,321 sq ft of office space at Bagmane Solarium City in Bengaluru's Whitefield-Brookefield micro-market. The 10-year lease, starting 5 February 2026, involves a monthly rent of Rs 88 per sq ft, totalling Rs 2.49 crore. The agreement includes a 15% rental escalation every three years and a security deposit of Rs 14.96 crore, according to Propstack documents.
In addition, IBM will pay fit-out rent of Rs 2.98 crore per month for five years until March 2031, bringing total fit-out costs to approximately Rs 179 crore. The Economic Times estimates the combined rental and fit-out outgo at Rs 522 crore. The lease deed was executed on 29 May 2026 and registered on 1 October 2026, as per Hindustan Times. IBM could not be reached for comment.
The deal follows a year in which office leasing in India remained resilient, with transactions across eight key markets totalling 66.7 million sq ft in the first nine months of 2026, according to Knight Frank India. A Colliers India report showed a 7% quarter-on-quarter rise in office leasing, with Bengaluru leading demand at 5.2 msf in Q3 2026.
Indian Opinion Analysis
All three outlets report the same transaction, based on Propstack documents, with identical figures for area, rent, escalation, security deposit and fit-out costs. Business Standard and Hindustan Times frame the deal as a sign of resilient office demand in Bengaluru, citing Colliers and Knight Frank reports. The Economic Times frames it as a large-scale commitment, emphasising the combined Rs 522 crore outlay. The coverage is uniform straight reporting across the board, with no discernible slant in any outlet. The concrete item to watch is Bengaluru's office leasing trajectory through the remainder of FY2026-27.
Coverage: 3 sources, 3 neutral
Sources (3): business-standard.com (neutral report), hindustantimes.com (neutral report), economictimes.indiatimes.com (neutral report)
This brief was synthesised by AI from the 3 sources linked above, so one read covers every framing they carry. Methodology and corrections.
