JP Morgan Services (India) Pvt Ltd has leased 5.59 lakh sq ft of office space in Bengaluru for a monthly rent of Rs 4.4 crore, documents accessed by data analytical firm Propstack showed.
Spread across the first 10 floors, the office space is located at Embassy Tech Village in Kadabeesanahalli. The office space has a carpet area of 4.3 lakh sq ft — and was rented out at Rs 80 per sq ft per month.
The company paid a security deposit of Rs 26.8 crore and the lease period is 86 months. The monthly rent will be escalated by 15 percent after three years in November 2027 at Rs 92 per sq ft per month and to Rs 106 per sq ft per month from November 2030 onwards.
The landlord in the transaction is Vikas Telecom Private Limited (Embassy). Vikas Telecom Private Limited owns 6.2 million sq ft of completed office property, about 1.9 million sq ft of under-construction area and 518 proposed hotel keys along with associated common area maintenance services in Embassy Tech Village.
Queries sent to JP Morgan did not get any response.
Major transactions in Bengaluru
Embassy Group-managed Embassy REIT inked an agreement with global banking major Commonwealth Bank of Australia (CBA) to lease 8 lakh square feet of prime office space in Bengaluru's Embassy Manyata with an expansion option of an additional 6 lakh sq ft.
The regulatory filing on August 21 said that the new space will be designed as a comprehensive built-to-suit solution. Embassy REIT expects to deliver the facility including fit-outs in the fourth quarter of the calendar year 2026.
And in July, Samsung R&D Institute India-Bangalore Pvt Ltd, the company’s largest software research and development centre outside South Korea, renewed its property lease in Bagmane's IT/ITeS Special Economic Zone (SEZ), located in the IT corridor of Outer Ring Road, for a monthly rent of Rs 4.3 crore.
The 4.2 lakh sq ft property is located in the Bagmane Goldstone building, a part of the Bagmane World Technology Centre, and the total lease period is 60 months.
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