JP Morgan Services (India) Pvt Ltd has announced that they have leased 5.59 lakh square feet of office space in Bengaluru for a monthly rent of Rs 4.4 crore. 

Spread across the first 10 floors, the office space is located at Embassy Tech Village in Kadubeesanahalli. The office has a total carpet area of 4.3 lakh square feet and is rented out at Rs 80 per square foot per month. 

The company has entered into a lease agreement with Vikas Telecom Private Limited (Embassy) for a period of 86 months, paying a security deposit of Rs 26.8 crore. The monthly rent is set to increase by 15% after three years, with rates rising to Rs 92 per sq ft per month in November 2027 and to Rs 106 per sq ft per month from November 2030 onwards. Vikas Telecom owns significant office property and hotel space within Embassy Tech Village.

Embassy REIT has signed a lease agreement with Commonwealth Bank of Australia (CBA) for 800,000 square feet of office space at Bengaluru’s Embassy Manyata, with an option to expand by an additional 600,000 square feet. 

The space will be a custom-built solution, expected to be ready by Q4 2026. Additionally, in July, Samsung R&D Institute India-Bangalore renewed its property lease in Bagmane’s IT/ITeS SEZ for a monthly rent of Rs 4.3 crore.

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