BlackRock Services India Pvt Ltd, the Indian arm of US-based asset management giant BlackRock Inc, has stepped up its real estate footprint in the country with two large office space leases in Bengaluru and Mumbai.

Property registration documents accessed by Propstack show the firm has committed over ₹410 crore for a 10-year lease of 1.43 lakh sq ft in Bengaluru’s KNG Tower 1 on MG Road, while also securing a five-year lease for 42,700 sq ft in Mumbai’s Raheja Altimus last year.

The documents show that the space is spread across the ground floor plus five additional floors.

The monthly rent has been fixed at ₹2.72 crore at a rate of ₹190 per sq ft with an annual rental escalation of 5%.

A security deposit of ₹21.75 crore has been paid for the transaction, according to the property registration documents.

The documents show that the transaction for the commercial office space was registered on August 21, 2025, and that the lease period starts in October 2025.

Whispering Heights Real Estate Private Limited, a joint venture between K Raheja Corp Group and GIC of Singapore, had in July 2024, leased 42,700 sq ft for a monthly rent of ₹1.28 crore to Blackrock Services India Private Limited in a building known as Raheja Altimus in Worli, Mumbai, for five years, according to property registration documents accessed by Propstack.

The documents showed that BlackRock paid a security deposit of ₹12.81 crore for the deal, which was registered on July 18.

The lease period is from August 2024 to July 2029, and the monthly rent is ₹300, that is, ₹1.28 crore per month. The documents showed that the monthly rent will increase to ₹314 from August 2025 to ₹329 from August 2026, and the security deposit will also increase to ₹14.72 crore from August 2027.