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IBM India Private Limited has leased over 1.61 lakh sq ft of office space at Embassy Golflinks Business Park in Bengaluru for a monthly rent of about ₹2.4 crore, according to documents accessed by CRE Matrix.
The lease, signed with Golflinks Software Park Private Limited, is for a period of five years, with a handover date was April 17, 2025. The space spans approximately 1.61 lakh sq ft across the third and fourth floors of the Pine Valley block at Embassy Golflinks Business Park, located in Challaghatta, Varthur Hobli, the lease deed showed.
The agreement includes a rent-free fit-out period of 45 days and a lock-in of three years. The company paid a security deposit of ₹14.5 crore, and the deal was registered on September 23, 2025.
According to the documents, IBM will pay fit-out charges of ₹63.09 per sq ft, with a corresponding fit-out security deposit of around ₹6.12 crore, equivalent to six months of fit-out fees. The rent for the transaction was charged at ₹150 per sq ft per month.
The deal also provides for 216 car parking slots, with parking charges set at ₹4,526.7 per slot, the documents showed.
A list of queries has been sent to IBM India and Embassy Group. The story will be updated if a response is received.
Previous transactions in Bengaluru
Earlier this year, IBM leased approximately 1.1 lakh square feet of office space from Table Space at DivyaSree Greens, a custom-made campus located on Inner Ring Road in Bengaluru, sources told Hindustan Times Real Estate.
Also Read: IBM leases 1.1 lakh sq ft of office space from Table Space in Bengaluru
Last year in August, IBM India Private Ltd had leased 8.3 lakh square feet of office space in Bengaluru for a period of 10 years at a starting monthly rent of ₹140 per square feet, property registration documents accessed through real estate data analytics platform Propstack showed.
Also Read: IBM leases 8.3 lakh square feet office space in Bengaluru for 10 years
As per the documents, the leased premises include multiple floors spread across Blocks A, C and D of Embassy GolfLinks Business Park in Domlur. The three buildings are named Cypress Point, Pacific Dunes and Peach Tree, respectively. Terms of the deal agreed to in the lease deed include rent escalation of 12% to ₹156 per sq ft after 5 years. It will further increase by 15% to ₹180 per sq ft after 8 years, the documents showed.
In June last year, IBM entered into a deal with realty developer Midas Projects for access to 1.06 lakh square feet of office space spread across two floors in Divyasree Orion, the documents showed.
The five-year contract period will see a rental hike of 5% every year. Going by a rate of ₹66 per sq ft per month, the total rental fee for the first year will amount to ₹70.23 lakh, the documents showed.
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