Honeywell leases nearly 4 lakh sq ft in Bengaluru’s Bellandur for seven years at a total rent of ₹429 crore
Global technology major Honeywell Technology Solutions Lab Pvt Ltd has leased close to 4 lakh sq ft of office space in the Bellandur area of Bengaluru for a total rent of ₹429 crore for a period of seven years, according to property registration documents accessed by Propstack.
The office space is situated in a building named RMZ Ecoworld, measuring 399,220 sq ft. Arliga Ecoworld Business Parks Private Limited, the owner of the space that has leased the space from January 1, 2026, for a period of seven years, as per the documents.
According to the documents, the leased premises span multiple floors, covering the ground to the second floors and the fourth to the ninth floors of the building. Honeywell will pay a starting monthly rent of ₹4.39 crore, equivalent to a rental rate of ₹110 per square foot per month. The agreement is for a seven-year tenure (84 months), with a 5% annual escalation clause.
Over the full lease period, the total rental expenditure is estimated to be around ₹429 crore. The company has also paid a security deposit of ₹26.85 crore, as per the documents.
The documents indicate that the space was leased along with 499 parking spaces for cars. In addition to the committed space, the lease includes an expansion plan. Honeywell has the option to take additional space in a phased manner at RMZ Ecoworld Campus 5B, comprising 55,619 sq ft on the third floor and 80,541 sq ft on the fourth floor, on or before June 1, 2026.
Also Read: Office leasing touches 82.6 mn sq ft in 2025, led by Bengaluru, Mumbai and NCR
An email query sent to Honeywell and Arliga Ecoworld Business Parks Private Limited did not get a response. The story will be updated if a response is received.
Also Read: Facebook India leases nearly 69,702 sq ft office space in Hyderabad’s Hitec City for five years
Office leasing scenario in India
Office leasing across nine major Indian cities reached 82.6 million sq ft in 2025, a marginal 1% year-on-year increase driven by improved demand from domestic and foreign companies. Bengaluru, Mumbai, and the Delhi-NCR region led the activity, together accounting for around 61% of total space absorption, according to a report by CBRE.
In the fourth quarter alone, leasing touched 22.2 million sq ft, with the same three markets driving demand. Technology, flexible spaces and BFSI corporates led absorption with a cumulative share of 60% in 2025.
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GCCs continued to power India’s office market, capturing a 39% share in Oct-Dec 2025. Global firms are expected to expand their footprints in India through their Global Capability Centres (GCCs). These centres are projected to drive 35-40 per cent of total space absorption in 2026, the report titled ‘CBRE India Office Figures Q4 2025’ said.
