The agreement includes a 15 per cent rental escalation every three years. | Photo Credit: Rawf8

American software major Intuit has leased over 6.3 lakh sq ft office space at Embassy Tech Village in Bengaluru in one of the city’s largest global capability centre (GCC)-linked office transactions this year, according to Propstack data.

The lease has been signed by Intuit India Product Development Centre Pvt Ltd with Vikas Telecom Pvt Ltd for Blocks 8A, 8B and 8C at Embassy Tech Village, a key Grade A office campus located along Bengaluru’s Outer Ring Road corridor.

The fresh lease commenced on June 7, 2025, and spans ground plus 10 floors. The total chargeable area leased stands at about 6,31,978 sq ft. The agreement carries a starting rental of ₹97 per sq ft per month, translating into a monthly rental outgo of nearly ₹6.13 crore.

The lease tenure is 10 years and includes a security deposit of approximately ₹36.78 crore. The agreement also includes a 15 per cent rental escalation every three years.

The demand for Grade-A office space has been growing, led by GCCs. According to ANAROCK, the demand for premium office space continues to accelerate. Grade A office demand across the top seven cities rose 17 per cent year-on-year to 58.2 million sq. ft. in 2025.

Southern markets lead this momentum, with Bengaluru (14.95 million sq. ft.), Hyderabad (8.5 million sq. ft.), and Chennai (5.9 million sq. ft.) accounting for a significant share of absorption.

Published on May 19, 2026