BlackRock Leases Bengaluru Office for Rs 410 Billion

18 Sep 2025 CW Team

BlackRock Services India Pvt Ltd, the Indian arm of global asset manager BlackRock Inc, has leased 1.43 lakh sq ft of office space in Bengaluru’s Ashok Nagar for Rs 410 billion over a 10-year period, according to property registration documents accessed by Propstack.

The commercial space, located in KNG Tower 1 and leased from IndiQube Space Limited, covers the ground floor and five additional floors. The monthly rent is set at Rs 2.72 billion at Rs 190 per sq ft, with an annual escalation of 5 per cent. A security deposit of Rs 21.75 billion has been paid. The lease transaction was registered on 21 August 2025, with the term beginning in October 2025.

In a previous deal in July 2024, BlackRock leased 42,700 sq ft in Raheja Altimus, Worli, Mumbai, for Rs 1.28 billion per month. That five-year lease, registered on 18 July, came with a security deposit of Rs 12.81 billion, set to rise to Rs 14.72 billion by 2027, alongside annual rent increases from Rs 300 per sq ft to Rs 329 per sq ft by 2026.

Both transactions underscore BlackRock’s expansion in India’s key financial hubs, strengthening its presence in Bengaluru and Mumbai.

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