IBM India Private Limited has leased more than 161,000 sq ft of office space at Embassy GolfLinks Business Park in Bengaluru, at a monthly rent of about Rs 24 million, according to documents accessed by CRE Matrix. The five-year lease, signed with Golflinks Software Park Private Limited, provides space across the third and fourth floors of the Pine Valley block at the business park in Challaghatta, Varthur Hobli. The handover date was April 17, 2025, while the agreement was registered on September 23, 2025. The deal includes a 45-day rent-free fit-out period and a three-year lock-in, with IBM paying a security deposit of Rs 145 million. As per the lease documents, IBM will pay fit-out charges of Rs 63.09 per sq ft, along with a fit-out security deposit of about Rs 61.2 million, equivalent to six months of fit-out fees. The base rent has been fixed at Rs 150 per sq ft per month. The agreement also provides 216 car parking slots, with parking charges set at Rs 4,526.7 per slot. Queries have been sent to IBM India and the Embassy Group. The story will be updated upon receipt of responses. Earlier this year, IBM leased around 110,000 sq ft of office space from Table Space at DivyaSree Greens on Bengaluru’s Inner Ring Road, according to industry sources. In August last year, IBM India leased 830,000 sq ft at Embassy GolfLinks for a 10-year term at a starting monthly rent of Rs 140 per sq ft, with a 12 per cent escalation to Rs 156 per sq ft after five years and a further 15 per cent increase to Rs 180 per sq ft after eight years, property registration records showed. Separately, in June last year, IBM entered into a five-year agreement with Midas Projects for 106,000 sq ft at Divyasree Orion, with an annual rental escalation of 5 per cent. At a rate of Rs 66 per sq ft per month, the total rental outgo for the first year was Rs 7.02 million, according to the documents.