Google India Renews Lease for Bengaluru Office Space at Annual Rental Value of Rs 900 Crore

Bengaluru, May 23 - Alphabet Inc.'s subsidiary Google India has renewed its lease agreement to occupy a massive 8.7 lakh square feet office space in Bengaluru's prestigious Bagmane Capital Business Park, set to remain a prime hub for tech companies.

According to leaked documents accessed by real estate analytics firm Propstack, the Indian arm of Google signed a new five-year deal for two office towers - Kyoto East and Kyoto West - with an effective annual rental value of approximately Rs 90 crore.

The tech giant's commitment to its Indian operations was reaffirmed as it continues to utilize the space housing 5,000 employees at its Ananta facility nearby.

Google agreed to settle a further two million square feet (4.52 lakh sq ft in Kyoto East Tower and adjacent 4.2 lakh sq ft Kyoto West Tower) with monthly rentals being around Rs 3.9 crore and Rs 3.6 million respectively, and totaling Rs 38.44 crore as security deposits. The space was taken up from Bagmane Constructions.

Bengaluru's capital - India's sixth-largest city - continues to be the country's tech heartland and has attracted a plethora of major corporations such as Amazon, Microsoft, Samsung, American Express & BNP Paribas for business operations.