IBM India Private Limited has leased over 1.61 lakh sq ft of office space at Embassy Golflinks Business Park in Bengaluru, with a monthly rent of approximately ₹2.4 crore, according to CRE Matrix documents.

The lease covers the third and fourth floors of the Pine Valley block in Challaghatta, Varthur Hobli, for a five-year term with a three-year lock-in and a 45-day rent-free fit-out period. IBM paid a security deposit of ₹14.5 crore and will incur fit-out charges of ₹63.09 per sq ft, along with a fit-out security deposit of around ₹6.12 crore. The agreement also provides 216 car parking slots at ₹4,526.7 per slot.

The agreement includes a rent-free fit-out period of 45 days and a lock-in of three years. The company paid a security deposit of ₹14.5 crore, and the deal was registered on September 23, 2025.

According to the documents, IBM will pay fit-out charges of ₹63.09 per sq ft, with a corresponding fit-out security deposit of around ₹6.12 crore, equivalent to six months of fit-out fees. The rent for the transaction was charged at ₹150 per sq ft per month.

The deal also provides for 216 car parking slots, with parking charges set at ₹4,526.7 per slot, the documents showed.

A list of queries has been sent to IBM India and Embassy Group. The story will be updated if a response is received.

Previous transactions in Bengaluru

Earlier this year, IBM leased approximately 1.1 lakh square feet of office space from Table Space at DivyaSree Greens, a custom-made campus located on Inner Ring Road in Bengaluru, sources told Hindustan Times Real Estate.

Last year in August, IBM India Private Ltd had leased 8.3 lakh square feet of office space in Bengaluru for a period of 10 years at a starting monthly rent of ₹140 per square feet, property registration documents accessed through real estate data analytics platform Propstack showed.