BlackRock Services India Pvt Ltd, the Indian arm of global asset management firm BlackRock Inc., has leased 1.43 lakh square feet of commercial office space in Bengaluru for ₹410 crore over a 10-year term, according to property registration documents accessed by Propstack.
The leased space is located in KNG Tower 1 at Ashok Nagar on MG Road, and spans the ground floor plus five additional floors of the building. The monthly rent has been fixed at ₹2.72 crore, equating to ₹190 per square foot, with an annual rental escalation of 5%. A security deposit of ₹21.75 crore has been paid as part of the lease agreement.
The transaction was registered on August 21, 2025, and the lease period is set to commence in October 2025. The details indicate that the lease covers long-term operational requirements for BlackRock’s India operations, reflecting the growing demand for Grade-A office space in central Bengaluru.
The deal is part of a broader trend of multinational companies securing significant office footprints in Bengaluru, especially along established commercial corridors such as MG Road, Whitefield, and Outer Ring Road. Market experts note that high-quality office stock in central locations continues to attract premium rents, with multi-floor leases becoming increasingly common for asset managers, IT services companies, and financial firms.
In addition to Bengaluru, BlackRock Services India Pvt Ltd has previously leased office space in Mumbai. In July 2024, the firm secured 42,700 square feet in Raheja Altimus, Worli, through Whispering Heights Real Estate Private Limited, a joint venture between K Raheja Corp Group and GIC of Singapore. That lease, for a five-year term, had a monthly rent of ₹1.28 crore with a security deposit of ₹12.81 crore. The agreement included scheduled annual rent increases, reflecting prevailing market practices for long-term commercial leases.
The Bengaluru lease represents a substantial expansion in BlackRock’s India office footprint. The company has been actively consolidating operations in key business hubs, driven by increased client engagement, regulatory requirements, and operational scale. Analysts indicate that the selection of a central location on MG Road underscores BlackRock’s preference for accessible and high-visibility office environments.
Property experts highlight that large-scale leases like this one have a direct impact on Bengaluru’s commercial real estate market, influencing rental benchmarks and occupancy trends. Office developers such as IndiQube Space Limited have been able to capitalize on this demand by offering premium multi-floor spaces with modern amenities, contributing to a steady absorption rate for Grade-A office stock.
This lease aligns with broader market trends, where global asset managers and multinational corporations are increasingly securing long-term leases in central Bengaluru locations to accommodate both operational expansion and strategic positioning. The MG Road corridor, in particular, continues to serve as a preferred choice for corporate offices due to its connectivity, established infrastructure, and proximity to commercial services.
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