Ola has renewed the lease for approximately 4.27 lakh sq ft of office space in Bengaluru through two separate agreements, with a total rental commitment of around ₹281 crore over the tenure, according to property registration documents accessed by Propstack.
Under the first agreement, Ola Electric Technologies Pvt. Ltd. has renewed its lease with RMZ City Estates Pvt. Ltd. for five years for 1.68 lakh sq ft of office space across the 4th, 5th and 6th floors of Prestige RMZ Star Tech in Koramangala, Bengaluru.
The lease, registered on May 8, 2026, commenced on October 16, 2025. It carries a monthly rent of ₹1.74 crore at ₹103.5 per sq ft, with a 15% rent escalation after three years. The agreement also includes a security deposit of ₹4.54 crore.
In a separate transaction, ANI Technologies Pvt Ltd, the parent entity of ride-hailing platform Ola, has renewed the lease for 2.59 lakh sq ft across the ground, first, second, third, seventh and eighth floors of the same building.
The company will pay a monthly rent of around ₹2.68 crore at a rate of ₹103.5 per sq ft. The lease, which also commenced on October 16, 2025, has been signed for a five-year tenure. ANI Technologies has provided a security deposit of ₹11.54 crore, while the agreement provides for a 15% rent escalation after three years.
Together, the two lease renewals account for approximately 4.27 lakh sq ft of office space and a combined monthly rental outgo of nearly ₹4.42 crore, the documents show.
According to Propstack, the documents indicate that the lease renewals have been executed at the same monthly rental rate of ₹103.5 per sq ft.
The office space was originally leased by Ola Group entities in January 2021 at a rental rate of ₹90 per sq ft per month. The subsequent increase in rentals to ₹103.5 per sq ft in 2023, Propstack showed.
An email query has been sent to Ola and RMZ City Estates Private Limited. The story will be updated if a response is received.
All about Koramangala
Koramangala remains one of Bengaluru’s most sought-after office micro-markets, housing several technology companies, startups and corporate occupiers. Its strategic location, established social infrastructure and proximity to key business districts continue to make it a preferred destination for office occupiers in the city.
