Global investment management firm BlackRock Services India has signed a fresh lease with Indiqube Space Ltd for 1.43 lakh sq. ft at KNG Tower 1 (Indiqube Symphony), MG Road, Ashok Nagar, Bengaluru, as per real estate analytics firm Propstack.
The 10-year lease commences on October 1, 2025, with a monthly rental outlay of ₹2.72 crore, with a rent commitment of ₹410 crore over the tenure, and 5 per cent annual escalation.
The lease covers ground plus five floors in the building, with rentals fixed at ₹190 per sq. ft per month. BlackRock will also pay a security deposit of ₹21.75 crore.
The deal comes at a time when Bengaluru continues to lead office space leasing in India. The total Grade A office stock across the top six cities stands at approximately 1,030 msf, with Bengaluru holding the largest share at 26 per cent, followed by Delhi-NCR at 19 per cent and the Mumbai Metropolitan Region (MMR) at 18 per cent, according to the Investment Information and Credit Rating Agency (ICRA).
Recently, TCS signed a 15-year lease for 1.4 million sq. ft. on Neeladri Road, Electronic City, Bengaluru, at a monthly rent of ₹9.31 crore (₹66.50 per sq. ft.), with a 12 per cent escalation every three years. Apple India has also leased approximately 2.7 lakh sq. ft. of office space in Bengaluru for a 10-year period. The agreement, with a starting rent of ₹6.3 crore per month, is expected to cost the company over ₹1,000 crore in rent, parking and maintenance charges over the contract term.
Published on September 15, 2025
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