IBM India has leased nearly 1.62 lakh sq. ft. at Embassy Golflinks Business Park in Bengaluru, signalling sustained demand for Grade A office spaces. The transaction highlights the city’s dominance in India’s commercial real estate market, driven by large-format corporate leasing and long-term occupier confidence.
Bengaluru’s commercial real estate market continues to attract strong interest from global corporates, underlining its position as India’s most active office leasing hub. In a significant transaction reflecting this momentum, IBM India Private Ltd has leased a sizeable office space at Embassy Golflinks Business Park – Pine Valley. The deal reinforces the city’s appeal among multinational occupiers seeking high-quality, scalable work environments in established business districts.
Details of the IBM Lease Transaction
According to documents accessed by CRE Matrix, IBM India has leased 1,61,884 square feet at the business park in Challaghatta, Varthur Hobli, from Golflinks Software Park Private Ltd. The lease, registered on September 23, 2025, has a five-year tenure, reflecting IBM’s long-term commitment to Bengaluru as a key operational and technology hub. The agreement involves a monthly rental of approximately ₹2.43 crore, totalling nearly ₹14.57 crore over the lease term. The effective rental of ₹150 per square foot aligns with prevailing rates for Grade A office assets in mature micro-markets across the city.
Scale, Amenities, and Long-Term Stability
The leased premises span multiple floors, including Units 3 and 4 on the third floor and Units 1 and 2 on the fourth floor, as well as 216 dedicated car parking slots. The handover date has been set for April 17, 2025, with a 45-day rent-free fit-out period to allow workspace customisation. The agreement also includes a 36-month lock-in period, providing stability for both the tenant and the landlord. Fit-out charges have been fixed at ₹63.09 per square foot, while the fit-out security deposit stands at approximately ₹6.13 crore, equivalent to six months of fit-out charges.
Large-Format Deals Continue to Drive Office Absorption
Market experts note that Bengaluru’s office leasing activity is increasingly being driven by large-format transactions, particularly from technology companies, Global Capability Centres, and engineering-led multinationals. Despite the widespread adoption of hybrid work models, corporates continue to invest in premium office spaces to support collaboration, innovation, and long-term workforce planning. Transactions of this scale highlight the continued relevance of physical offices in enterprise strategies.
Why Bengaluru Remains the Top Choice
Bengaluru’s dominance in India’s office market is anchored in its deep talent pool, mature technology ecosystem, and strong presence of global enterprises. Campus-style developments such as Embassy Golflinks remain preferred destinations for multinational occupiers, offering integrated infrastructure, connectivity, and large contiguous floor plates. These factors continue to differentiate the city from other office markets in the country.
Outlook for Grade A Office Assets
With global companies increasingly viewing India as a strategic base for technology and innovation operations, Bengaluru’s office leasing outlook remains positive. Deals like IBM India’s expansion are expected to sustain demand for Grade A commercial assets through 2025, reinforcing confidence among developers, investors, and flexible workspace operators aligned with enterprise occupiers.
