IT  Giant TCS grabs big deal of lease 1.4 million square feet in Bangaluru

IT giant Tata Consultancy Services (TCS) has signed a landmark lease agreement for 1.4 million sq. ft. of office space in Bengaluru’s Electronic City. The deal comes with a monthly rent of ₹9.31 crore and a security deposit of ₹112 crore, under a long-term lease of 15 years.

We have seen a good leasing momentum in jaipur also; one of vertical of TCS named TCS ION has done association with Jodhpur based company name “Tanwar Technologies” and takes on lease 1.35 lakh square feet space for 10 years in Sitapura Jaipur.

Jaipur as Tier-2 city is also accelerating in commercial real estate. Locations such asc Malviya nagar, Vaishali Nagar, Mansarovar and Sitapura are developing as hub for IT companies and corporate centers, around 5 million square feet office space is already occupied by small IT start ups and big corporate and next 15 million square feet office space is ready to come up, Rental growth in Jaipur’s commercial market is around 70% in last 3 years said Anil Soni, CEO, commercial real estate company Anita Associates.