Intuit Leases 6.31 Lakh Sq Ft Office Space in Bengaluru for ₹6.13 Crore Monthly Rent
Intuit India Product Development Centre Private Limited, the Indian arm of the US-based financial technology company, has leased nearly 6.31 lakh sq ft of office space in Bengaluru's Embassy Tech Village for 10 years at a monthly rent of ₹6.13 crore.
Key Details of the Lease Agreement
- Total chargeable area: 631,978 sq ft
- Lease rental: ₹97 per sq ft per month
- Total monthly rent: ₹6.13 crore
- Security deposit: ₹36.78 crore
- Eligibility to renew lease for an additional five years: yes
The lease agreement also includes 608 parking spaces at a monthly rent of ₹4,500 per slot and an additional 234 parking spaces that will come into effect from a separate commencement date.
About Embassy Tech Village
Embassy Tech Village is a business park in Bengaluru backed by Embassy Office Parks REIT. It houses several multinational technology and financial services firms and has sustained leasing momentum in the area due to its proximity to key residential hubs and established social infrastructure.
Previous Office Transactions in Bengaluru
- Amazon leases over 1 million sq ft of office space in north Bengaluru for ₹6.1 crore monthly rent
- Airbus India Private Limited leased over 1.51 lakh sq ft of office space at Titanium Tech Park in Bengaluru at a monthly rent of ₹97.09 lakh for an eight-year term.
- Apple India leased 7997.8 sq ft of retail space in North Bengaluru's upscale Phoenix Mall of Asia for an annual rent of ₹2.09 crore for 10 years.
- Morgan Stanley Advantage Services Private Limited had leased about 1.6 lakh sq ft of office space at Ecoworld on Bengaluru’s Outer Ring Road–Sarjapur corridor for a monthly rent of ₹1.92 crore for nearly five years.
- Qualcomm India Pvt Ltd leased 2.56 lakh sq ft of office space in Bengaluru for a period of five years, at a total rent of ₹184 crore.
- Amazon Development Centre India Private Limited renewed its lease for 6.76 lakh square feet of office space in the Taurus 3 facility of Constellation Business Park for a period of five years, at a starting monthly rent of ₹4.92 crore.