Ola Electric Technologies and its parent company, ANI Technologies, signed a five-year lease renewal with landlord RMZ City Estates Pvt. Ltd.
The agreement covers a 4.27 lakh sq ft office space at the Prestige RMZ Star Tech commercial campus in Bengaluru.
The total rental value of the five-year lease transaction is estimated at ₹281 crore, commencing on October 16, 2025.
Ola Electric Technologies Pvt. Ltd. has renewed leases for around 4.27 lakh sq ft of office space in Bengaluru under two separate agreements, with total rental commitments of nearly ₹281 crore over five years, according to the documents evaluated by Propstack, as quoted by media reports.
The two lease renewals together cover about 4.27 lakh square feet of office space and entail a combined monthly rental expenditure of nearly ₹4.42 crore.
1 June 2026
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The report shows that the lease renewals were finalised at a monthly rent of ₹103.5 per square foot.
The Two Agreements
The first agreement involves Ola Electric Technologies Pvt. Ltd., which has renewed terms with RMZ City Estates Pvt. Ltd. for 1.68 lakh sq ft spread across the 4th, 5th and 6th floors of Prestige RMZ Star Tech in Koramangala.
Registered on May 8, 2026, the lease took effect retroactively from October 16, 2025, and runs for five years. Monthly rent works out to ₹1.74 crore, calculated at ₹103.5 per sq ft, with a built-in 15% escalation after the third year. Ola Electric has put down a security deposit of ₹4.54 crore against this agreement.
A second, separate lease covers ANI Technologies Pvt Ltd, the parent company behind the Ola ride-hailing app, for a larger 2.59 lakh sq ft chunk of the same building, spanning the ground, first, second, third, seventh and eighth floors.
This lease also began on October 16, 2025, runs for five years, and is priced at the identical rate of ₹103.5 per sq ft, translating to a monthly outgo of roughly ₹2.68 crore.
ANI Technologies' security deposit on this lease is considerably higher, at ₹11.54 crore, with the same 15% post-three-year escalation clause applying.
Rental Escalation Since 2021
The space itself isn't new to Ola, group entities first signed on in January 2021 at a considerably lower rate of ₹90 per sq ft per month. That rate climbed to the current ₹103.5 per sq ft mark back in 2023, according to reports, meaning the latest renewal locks in pricing that already reflects nearly three years of escalation.
The Micro-Market
Koramangala continues to be one of Bengaluru's most in-demand commercial corridors, drawing a mix of tech firms, start-ups, and larger corporate tenants.
Its strategic location, well-developed social infrastructure, and proximity to major business districts continue to position it as a preferred office destination in the city.
