Amazon Leases Over 1 Million Sq Ft Office Space in North Bengaluru
Amazon Development Centre India and Amazon Seller Services have leased over one million square feet of office space in north Bengaluru. The transaction, one of the larger office space deals in the city in recent months, was reported by data analytics firm Propstack based on reviewed lease documents.
The leased space is in Kattigenahalli, located roughly 25 minutes from Kempegowda International Airport. Amazon has taken over the entire Sattva Horizon building, which comprises 11 floors and is capable of accommodating between 6,000 and 7,000 employees. According to people familiar with the deal, the agreement signals ongoing demand for large office spaces in Bengaluru.
The lease agreement began on October 9, 2024, and has a tenure of 10 years. Amazon will pay ₹6.1 crore per month for the office space. The per square foot rent is ₹62.04 for a carpet area of 7.14 lakh sq ft and a chargeable area of 9.86 lakh sq ft. The lease includes a 15 percent rent escalation every three years. No upfront deposit was required for the transaction. The agreement was signed with Sattva Horizon Private Limited, part of Sattva Group.
The development is expected to have a positive impact on real estate demand in the north Bengaluru corridor. The location of the property, along Airport Road in Kattigenahalli, is regarded as a well-connected area with strong infrastructure. The local residential and commercial market has already shown high demand. Residential properties, particularly 2BHK apartments in the area, currently rent for ₹20,000 to ₹25,000 per month, with an annual rental appreciation rate of approximately 10 to 15 percent. New housing projects in this micro-market offer 2BHK units priced between ₹80 lakh and ₹1 crore.
For real estate investors, residential properties in the area typically yield around 3 to 4 percent annually. This is supported by the presence of educational institutions and the nearby Yelahanka Air Force Base. Commercial property returns in the area are relatively stronger, with annual returns averaging about 6 percent. Ground-floor commercial spaces attract rents between ₹80 and ₹100 per square foot.
Amazon’s lease in Kattigenahalli adds to its growing office presence in Bengaluru. In November 2024, the company renewed its lease for 6.76 lakh square feet in the Taurus 3 building at Constellation Business Park, also in Bengaluru. That renewal covered a five-year term with a starting monthly rent of ₹4.92 crore. The lease was executed with Bagmane Developers Private Limited and an individual, B N Neetish Purushottama. The transaction incurred a stamp duty of ₹1.11 crore and a registration fee of ₹56.04 lakh.
Beyond Bengaluru, Amazon has been active in leasing large office spaces in other major Indian cities. The company recently leased over 8 lakh square feet of office space in both Gurugram and Hyderabad. These moves reflect Amazon’s long-term commitment to its operations in India and its continuing expansion of its physical office footprint in key urban markets.
The Bengaluru commercial office market continues to attract interest from global corporations, particularly in technology and e-commerce sectors. Despite wider concerns about global economic conditions, the city’s demand for large-format, well-located office spaces remains steady. Amazon’s latest lease underscores this trend and may encourage further investment in both the commercial and residential segments of north Bengaluru.
