IBM India Ltd has secured a significant office space lease in Bengaluru's Whitefield-Brookefield micro-market. According to transaction documents sourced from Propstack, the tech major will lease 283,321 square feet in Bagmane Solarium City from Akruthi Infra-Build Developers Private Limited. The lease commences on February 5, 2026, with IBM securing the ground to third floors of the Radon Tower.
The lease agreement includes substantial financial commitments from IBM. As reported by Propstack, the deal involves a monthly rental rate of ₹88 per sq ft, totaling ₹2.49 crore monthly for the chargeable area. The agreement spans 10 years with a security deposit of ₹14.96 crore. Additionally, IBM will pay fit-out rent of approximately ₹2.98 crore per month for five years until March 2031, bringing the total fit-out rent to ₹179 crore.
The lease deal reflects broader market trends in India's office real estate sector. According to a recent report by Knight Frank India, office leasing numbers remained resilient in the first nine months of 2026, matching levels recorded during the same period last year. Transactions across eight key markets covered by the report totaled 66.7 million square feet. Another report by Colliers India showed office leasing increased 7% quarter-on-quarter from 17.4 msf in the previous quarter, with Bengaluru continuing to lead Indian office demand.
This Bengaluru lease follows IBM's earlier office space acquisition in Gurugram. As reported by Propstack, earlier this year, the company leased 230,000 square feet of office space at Tata Realty and Infrastructure's Intellion Park in Sector 59, Gurugram. IBM currently maintains facilities across major metropolitan cities including Ahmedabad, Bengaluru, Delhi, Kolkata, Mumbai and Noida.
