TCS Rents Over ₹2,000 Cr Office Space in Bengaluru, Joining Big Tech's Lease Rush

Tata Consultancy Services (TCS) has leased 1.4 million sq ft of office space at 360 Business Park in Bengaluru’s Electronic City for a 15-year term. According to real estate analytics platform Propstack, the Tata group company has committed to a total rental outlay of over ₹2,000 crore, making it one of the largest office lease transactions of the year.

The leased area spans two towers at 360 Business Park—Tower 5A (6.8 lakh sq ft) and Tower 5B (7.2 lakh sq ft). TCS will pay a monthly rent of ₹9.31 crore (₹66.5 per sq ft), with 12% escalation every three years, backed by a security deposit of ₹112 crore. Phase 1 (G+7 floors) will become operational from April 1, 2026, while Phase 2 (floors 8–13) will start from August 1, 2026.

The deal comes at a time when office leasing activity has surged across Bengaluru, Pune, and other metro hubs housing IT services firms and global capability centres (GCCs).

According to Anarock, net office leasing rose 40% year-on-year in H1 2025 to 26.8 million sq ft across the top seven cities. Bengaluru led with 6.55 million sq ft of absorption, while Pune emerged as the fastest-growing market, recording 188% growth.

“New office supply increased 25% to 24.51 million sq ft, creating balanced market dynamics. Vacancy rates improved slightly to 16.3%, while average rentals rose 4% to ₹88 per sq ft per month. The IT-ITeS sector dominated with a 29% share, followed by co-working spaces at 22%,” said Peush Jain, MD, Commercial Leasing & Advisory, Anarock Group.

The agency’s data shows that demand was fuelled by business expansion, return-to-office mandates, and hiring in technology, financial services, and manufacturing. Bengaluru drove the southern region’s 49% share, while western markets contributed 31%, with Mumbai and neighbouring areas leasing 4.5 million sq ft (up 43%) and Pune surging to 3.8 million sq ft on the back of manufacturing and services growth. NCR absorbed 5 million sq ft with modest 7% growth, while Kolkata lagged, shrinking 51% to 0.45 million sq ft.

Among Bengaluru’s major H1 2025 deals were Airbus leasing 0.88 million sq ft at Titanium Tech Park in Whitefield, Google India taking 0.87 million sq ft at Bagmane Capital Business Park on ORR, Texas Instruments leasing 0.55 million sq ft at Bagmane Cosmos Business Park in C V Raman Nagar, and ARM Embedded Technologies occupying 0.4 million sq ft at Bagmane Taurus 4 on ORR.

August alone has seen a series of marquee deals by global tech majors. US-based Microchip Technology acquired 0.17 million sq ft in Whitefield for ₹1,800 crore. Apple India leased 2.7 lakh sq ft in Bengaluru for 10 years at a starting rent of ₹6.3 crore per month, with total costs expected to exceed ₹1,000 crore. In Hyderabad, Microsoft India (R&D) leased 2.65 lakh sq ft at Phoenix Centaurus for five years at a monthly rent of ₹5.4 crore.