Temasek-backed healthcare major Manipal Health Enterprises Private Limited has leased a 2.4 lakh sq ft property in Bengaluru’s Konankunte area for a period of 29 years and 11 months at a total rent of over ₹837 crore, according to property registration documents accessed by CRE Matrix.
The transaction was registered on May 18, 2026 and involved several landowners, the documents showed.
The property is located in Konankunte village, Uttarahalli Hobli, Bengaluru South, with a starting monthly rent of ₹1.36 crore, translating to about ₹57 per sq ft. The lease commencement date has been set for May 21, 2026, and rent payments will commence on September 21, 2026, according to the documents.
According to the property registration documents, the agreement provides a four-month rent-free period from the lease commencement, a common practice in large commercial leasing transactions that allows tenants time to undertake fit-outs, install equipment and operationalise the premises before rental obligations begin.
The lease also includes a substantial security deposit of ₹16.41 crore and grants the lessee access to 211 car parking spaces. Based on the starting rent, the healthcare company’s annual rental outgo is expected to exceed ₹16 crore in the initial year, excluding any future escalations specified in the agreement, the documents show.
Manipal Health Enterprises, along with the landlord and the developer, could not be reached for comment.
Also Read: ₹816 crore”>Manipal Health Enterprises signs 30-year lease for Bengaluru hospital at ₹816 crore
Previous transactions
Recently, Manipal Health Enterprises Private Limited leased a multi-speciality hospital building in Bengaluru for nearly 30 years at a transaction valued at approximately ₹816 crore, documents accessed by Propstack showed.
The property comprised three basement levels, a ground floor and 10 upper floors, the documents showed. The lease agreement commenced on November 1, 2025, and was signed for a period of 29 years and 11 months. The landlord is listed as JKC Varma and others, the documents showed.
In May 2026, Manipal Health Enterprises Pvt Ltd acquired a 752 sq m land parcel with a hospital building in Mumbai’s Andheri for ₹495 crore. This completes the second leg of a broader ₹908 crore deal following an earlier ₹415 crore acquisition of a part of the same site two years ago, documents accessed by CRE Matrix showed.
The transaction included a 752.77 sq m plot along with a constructed hospital building with a built-up area of 20,663.80 sq m, according to the documents. The deal was registered on May 6, 2026, and involved a stamp duty payment of ₹29.22 crore, the documents showed.
