Bengaluru: IT giant leases 360 Business Park towers for ₹2,130 crore

Tata Consultancy Services (TCS) has signed one of Bengaluru’s largest commercial real estate deals, leasing 1.4 million sq ft of office space at 360 Business Park in Electronic City for ₹2,130 crore over 15 years, according to documents accessed by Propstack.

The lease covers Tower 5A (6.8 lakh sq ft) and Tower 5B (7.2 lakh sq ft), with a consolidated monthly rent of ₹9.31 crore at ₹66.5 per sq ft. TCS has also provided a security deposit of ₹112 crore.

Lease details and terms

The agreement was signed with Labzone Electronics City Pvt Ltd, the property developer, for a 15-year tenure with a 12% rent escalation every three years. The total rental outflow over the lease period is estimated at around ₹2,130 crore.

The lease will commence in two phases:

  • Phase 1: Ground plus seven floors, starting April 1, 2026
  • Phase 2: 8th to 13th floors, starting August 1, 2026

Together, the two towers will add over 1.4 million sq ft of Grade-A workspace for TCS.

Context and industry trends

Earlier this year, Google opened its 1.6 million sq ft Ananta campus in Mahadevapura, Bengaluru, India’s largest office for the company. In 2024, Morgan Stanley leased 1 million sq ft in Mumbai.

Experts say the TCS deal is among the largest office transactions Bengaluru has seen in recent years, reflecting renewed confidence in expansion-led demand for IT services.

“Third-party IT services made a strong comeback in H1 2025, with transaction volumes jumping 189% compared to H1 2024,” said Vivek Rathi, National Director-Research, Knight Frank India. “The surge in average deal size and top 10 transactions accounting for nearly 50% of total leasing are defining trends in Bengaluru’s office market.”

TCS layoffs and real estate impact

TCS announced plans to trim its workforce by 2% in FY26, amounting to over 12,000 employees. Experts say this has sparked speculation of a correction in rental and capital values in Bengaluru’s tech hubs like Whitefield, Bellandur, and Electronic City.

Previous TCS leases

  • Chennai: 6.3 lakh sq ft at Ozone Techno Park, Navalur, monthly rent ₹2.8 crore, commenced March 15, 2025
  • Hyderabad: 10.18 lakh sq ft in Paradigm Rajapushpa, Serlingampally Mandal, monthly rent ₹4.3 crore, across 18 floors