Honeywell Technology Solutions Lab Pvt Ltd has leased close to 0.4 million square feet of office space in the Bellandur area of Bengaluru for a total rental outlay of around Rs 4.29 billion over a seven-year period, according to property registration documents accessed by Propstack.

The office space is located at RMZ Ecoworld and measures 399,220 sq ft. The property is owned by Arliga Ecoworld Business Parks Private Limited and has been leased to Honeywell from 1 January 2026 for a tenure of 84 months.

As per the documents, the leased premises span multiple floors, including the ground to second floors and the fourth to ninth floors of the building. Honeywell will pay an initial monthly rent of Rs 43.9 million, translating into a rental rate of about Rs 110 per square foot per month. The lease agreement includes a 5 per cent annual escalation clause.

Over the full lease period, the total rental commitment is estimated at around Rs 4.29 billion. Honeywell has also paid a security deposit of Rs 268.5 million. The agreement includes 499 car parking spaces as part of the lease terms.

In addition to the committed area, the lease provides for future expansion. Honeywell has the option to take additional space at RMZ Ecoworld Campus 5B in phases, comprising 55,619 sq ft on the third floor and 80,541 sq ft on the fourth floor, on or before 1 June 2026.

Queries sent to Honeywell and Arliga Ecoworld Business Parks Private Limited did not receive a response at the time of reporting.

Office leasing activity across nine major Indian cities reached 82.6 million sq ft in 2025, marking a marginal year-on-year increase of 1 per cent, driven by demand from both domestic and global occupiers, according to a report by CBRE. Bengaluru, Mumbai and the Delhi-NCR region together accounted for about 61 per cent of total absorption during the year.

In the fourth quarter alone, leasing activity stood at 22.2 million sq ft, with technology firms, flexible workspace operators and BFSI companies together contributing around 60 per cent of total demand in 2025. Global Capability Centres continued to drive the office market, accounting for 39 per cent of absorption in the October–December 2025 quarter, and are expected to contribute 35–40 per cent of total space uptake in 2026, the CBRE report said.