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Jaguar Land Rover has expanded its Bengaluru footprint by leasing an additional 1.46 lakh sq ft at Brigade Tech Gardens for its Global Capability Centre. Valued at around INR 106 crore, the five-year deal includes a warm-shell rent of INR 65 per sq ft per month and a security deposit of INR 10.10 crore. Notably, the lease features a steep 15% rent escalation every three months. A 67,065 sq ft portion is on a separate fit-out rent of INR 65.95 lakh per month. With this expansion, JLR now occupies about 2.04 lakh sq ft in the tech park, strengthening its long-term presence in the Grade-A Bengaluru campus.
Jaguar Land Rover has expanded its Bengaluru presence significantly through its technology and business-services division. The company has signed on for an additional 1.46 lakh sq ft of office space at Brigade Tech Gardens, reinforcing its commitment to its Global Capability Centre (GCC) in India. Advertisement
The lease is for five years, and the total deal is worth about INR 106 crore. The structure of the lease is notable: JLR will pay a ?warm-shell? rent of INR 65 per sq ft per month, backed by a security deposit of INR 10.10 crore. Perhaps most strikingly, the lease includes a 15 per cent rent escalation every three months, which is unusually aggressive for the market.
Within the 1.46 lakh sq ft, a block of 67,065 sq ft is under a separate ?fit-out? rent arrangement. For that part, JLR will pay INR 65.95 lakh per month, which works out to roughly INR 98.35 per sq ft per month. The newly leased area covers parts of the ground and first floors, as well as the fifth and eighth floors of the tech park.
This expansion brings JLR?s total occupied area in Brigade Tech Gardens to approximately 2.04 lakh sq ft, combining with previously committed space. The earlier commitments originated from a pre-commitment made in December 2023, underlining JLR?s long-term planning in this campus.
Brigade Tech Gardens is a well-regarded Grade-A office park, known for hosting several multinational technology and GCC players. Its appeal lies in its strong infrastructure, quality construction, and strategic location in Bengaluru.
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