BlackRock Services India Pvt Ltd, the local arm of global asset manager BlackRock Inc., has signed a major lease deal in Bengaluru's prime MG Road business district. The company will occupy 1.43 lakh sq. ft. across six floors of KNG Tower 1 at Ashok Nagar, with the lease registered on August 21, 2025. The agreement begins October 1, 2025, at a monthly rent of INR 2.72 crore with 5% annual escalation and a security deposit of INR 21.75 crore. This follows BlackRock's earlier lease in Worli, Mumbai, and marks one of the largest flexible workspace deals, underscoring rising demand for premium offices.
BlackRock Services India Pvt Ltd, the Indian subsidiary of global asset management firm BlackRock Inc., has entered into a lease agreement for office space in Bengaluru. The leased property is located in KNG Tower 1 at Ashok Nagar, a prime commercial hub on MG Road. The agreement spans six floors, including the ground floor and five additional levels, totaling 1.43 lakh square feet.
The lease, registered on August 21, 2025, is fixed on a monthly rent of INR 2.72 crore, amounting to INR 190 per square foot. The contract includes a 5% annual rent escalation and a security deposit of INR 21.75 crore. The lease term is set to commence on October 1, 2025.
This transaction highlights the increasing demand for premium office spaces in Bengaluru, a city renowned for its thriving IT and business sectors. The deal also clearly shows the trend of global firms expanding their presence in India's major commercial hubs.
BlackRock Services India Pvt Ltd had also previously leased 42,700 square feet of office space in Worli, Mumbai, for INR 1.28 crore per month, reflecting the company's growing footprint in India's commercial real estate market.
The lease agreement with IndiQube, a flexible workspace operator, is among the largest transactions in India's co-working space sector, showing the growing preference of global institutions for flexible office solutions. The agreement, set to commence on October 1, 2025, will see BlackRock take up space in KNG Tower 1 at Ashok Nagar, MG Road'a prime commercial hub in Bengaluru.
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