EY Global Delivery Services India Private Limited has renewed its lease of 4.20 lakh sq ft in Bengaluru for five years at a rent of Rs 1.79 crore per month, documents accessed by Propstack showed.
The company has leased ground plus 11 floors for 60 months in a building called WTC Coral. The total area is 4.20 lakh sq ft, the lease deed showed.
The lease start date is January 25, 2023 and the end date is January 24, 2028. The lease deed comes with an escalation clause of 13.5 percent after 12 months and thereafter every 36 months, the document showed.
Also Read: Google has leased over 29 lakh sq ft in Bengaluru over six deals
The Coral building is located in the SEZ Campus in Mahadevapura, Bengaluru developed by Bagmane Developers Private Limited. It is part of the Bagmane World Technology Centre Campus.
As many as 561 designated car parking slots at the rate of Rs 3405 per car park slot per month have been provided to the company, the document showed.
The extension of the lease tenure will be for a period of 60 months in order to cater to the organization’s growing head count at the Bagmane Coral premises, as it implements its return to office policy, EY said in a statement, confirming the deal.
According to the statement, over the last 15 months, EY GDS has actively worked to migrate to a hybrid model for the 60,000 professionals spread out across 11 cities in India.
Also Read: Amazon Development Centre leases 6.6 lakh sq ft in Bengaluru for 5 years
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