TVS Motor Leases 5.29 Lakh Sq Ft in Bengaluru | Accenture Expands Bengaluru Footprint to 5.67 Lakh Sq Ft | India Office Leasing Rises 9% in Q3
This week’s FLEXO newsletter brings you the latest developments from India’s commercial real estate market. Bengaluru continues to see sizeable corporate office commitments, with TVS Motor taking over 5.29 lakh sq ft and Accenture expanding its footprint to 5.67 lakh sq ft. Meanwhile, office leasing across India’s top seven cities grew 9% in Q3, while rising enterprise demand is also driving investment into coworking and managed workspace. Let’s explore the full story in this week’s updates!
TVS Motor Leases 5.29 Lakh Sq Ft Office Space in Bengaluru
TVS Motor Company has leased approximately 529,533 sq ft of super built-up office space at Gardencity IT Park in Hebbal, Bengaluru. The 10-year lease commenced on September 22, 2026, with a monthly rent of approximately ₹4.7 crore. Hebbal Infraspace, owned by Gardencity, is the landlord, while Colliers advised on the transaction. The deal is understood to be part of TVS Motor’s consolidation and expansion of its office operations in Bengaluru.
Accenture Expands Bengaluru Office Footprint to 5.67 Lakh Sq Ft
Accenture Solutions has expanded its office footprint at Pritech Park SEZ in Bellandur by renewing 4.41 lakh sq ft and leasing an additional 1.26 lakh sq ft. This takes its total leased area on the campus to approximately 5.67 lakh sq ft, with total rent estimated at ₹269 crore over five years. The lease commenced on March 1, 2026, with a monthly rent of around ₹4.32 crore and a ₹16.11 crore security deposit. The agreement also provides for a 12% rent escalation every three years.
India’s Top Seven Cities Record 9% Growth in Q3 Office Leasing
Gross office leasing across India’s seven major cities rose 9% year-on-year to 18.7 million sq ft in the July-September quarter, up from 17.2 million sq ft a year earlier, according to Colliers. Bengaluru recorded an 11% increase to 5.2 million sq ft, while Delhi-NCR leasing doubled to 3.3 million sq ft and Hyderabad grew 47% to 2.2 million sq ft. Kolkata also recorded a four-fold increase to 0.4 million sq ft, while leasing declined in Mumbai, Pune and Chennai. During January-September 2026, leasing across the seven cities rose 7% to 54.4 million sq ft, with coworking and managed office operators accounting for 23% of the space taken by occupiers.
Nearly $946 Million Has Flowed Into India’s Coworking Market
India’s coworking and managed workspace segment has attracted nearly $946 million in private equity investment since 2016, according to Knight Frank India. Large enterprises now account for 72% of seats in managed workspace centres, while GCCs contribute 52% of demand. Coworking operators accounted for 24% of the 48 million sq ft of office space leased across eight major cities during January-June 2026. Investment has also picked up in 2026, with the segment receiving $30.9 million in PE funding during the first half of the year, compared with $24.3 million during the whole of 2025.
Embassy REIT Raises ₹1,000 Crore Through First Bank Financing at Trust Level
Embassy Office Parks REIT has raised ₹1,000 crore through three-year floating-rate non-convertible debentures fully subscribed by a European multinational bank. The transaction marks the first financing by a scheduled commercial bank to an Indian REIT at the trust level, following the RBI framework introduced in June 2026 that allows banks to finance REITs directly. The NCDs carry an initial coupon rate of 6.97%, with the funds being used to refinance existing debt. Embassy REIT operates more than 52 million sq ft of office space across Bengaluru, Mumbai, Pune, Delhi-NCR and Chennai.
As India’s commercial real estate market continues to expand, large corporate occupiers are making substantial long-term commitments while flexible workspace continues to gain ground among enterprises and GCCs. Bengaluru remains a major centre of office demand, with TVS Motor and Accenture together highlighting the scale of corporate requirements in the city. At the same time, the growth of managed workspace investment and the new financing route for Embassy REIT point to a commercial real estate market that is becoming more diversified and institutionally backed.
Looking for the right workspace for your business? Let FLEXO help you find it. Get in touch at +91-95133 92400 or visit flexospaces.com. We’ll keep you updated with more insights next week!
