Intuit India Product Development Centre Private Limited, the Indian arm of the US-based financial technology company, has leased nearly 6.31 lakh sq ft of office space in Bengaluru for 10 years at a monthly rent of ₹6.13 crore, according to property registration data accessed by Propstack.
The office space has been taken at Embassy Tech Village’s Block 8A, 8B and 8C. The landlord is Vikas Telecom Private Limited, the document showed.
The transaction commenced on June 7, 2025. It spans the ground floor and 10 upper floors, with a total chargeable area of 631,978 sq ft, it showed.
According to the documents, the lease rental has been fixed at ₹97 per sq ft per month, taking the total monthly rent to around ₹6.13 crore. The agreement has been signed for 10 years with a security deposit of ₹36.78 crore. The company is also eligible to renew the lease for an additional five years with prior notice, it showed.
The rent will be increased by 15% every three years, the document showed.
The lease agreement also includes 608 parking spaces at a monthly rent of ₹4,500 per slot, along with an additional 234 parking spaces that will come into effect from a separate commencement date.
Embassy Office Parks REIT-backed Embassy Tech Village houses several multinational technology and financial services firms. The business park’s proximity to key residential hubs and established social infrastructure has helped sustain leasing momentum in the area, experts pointed out.
A list of questions has been sent to Intuit and Vikas Telecom Private Limited. The story will be updated if a response is received.
Previous office transactions in Bengaluru
In January, global aerospace and defence major Airbus India Private Limited leased over 1.51 lakh sq ft of office space at Titanium Tech Park in Bengaluru at a monthly rent of ₹97.09 lakh for an eight-year term. With this deal, the company’s total leased space in the building has risen to nearly 8 lakh sq ft, after taking around 6.2 lakh sq ft last year, according to lease documents accessed by CRE Matrix.
Earlier, Apple India leased 7997.8 sq ft of retail space in North Bengaluru’s upscale Phoenix Mall of Asia for an annual rent of ₹2.09 crore for 10 years, according to documents accessed by Propstack. The lease has a 10-year term, with a 15% escalation in both rent and the security deposit every 3 years. Apple paid a security deposit of ₹1.046 crore, the document showed.
The lease also included a revenue-sharing component of almost 2% of revenue for the first 36 months and 2.5% thereafter. However, revenue-share payments are capped at twice the applicable yearly minimum guaranteed rent, the document showed.
Morgan Stanley Advantage Services Private Limited had also leased about 1.6 lakh sq ft of office space at Ecoworld on Bengaluru’s Outer Ring Road–Sarjapur corridor for a monthly rent of ₹1.92 crore for nearly five years, according to documents accessed by data analytical firm Propstack.
The transaction covered the 8th and 9th floors of the building, with a total chargeable area of about 1,58,533 sq ft, according to the documents. The 8th floor spans 79,618 sq ft, while the 9th floor measures 78,914 sq ft.
Earlier, global semiconductor major Qualcomm India Pvt Ltd leased 2.56 lakh sq ft of office space in Bengaluru for a period of five years, at a total rent of ₹184 crore. The company leased the space in Constellation Business Park, Virgo Tower, developed by Bagmane Developers Pvt Ltd, one of Bengaluru’s commercial real estate players. The lease covers the 5th, 6th, 7th, and 11th floors of the building.
In 2024, Amazon Development Centre India Private Limited also renewed its lease for 6.76 lakh square feet of office space in the Taurus 3 facility of Constellation Business Park for a period of five years, at a starting monthly rent of ₹4.92 crore.
