Honeywell Secures 4 Lakh Sq Ft Bengaluru Office Space in Major Tech Hub Deal
Overview
US tech giant Honeywell has signed a significant lease for nearly 400,000 square feet of office space at RMZ Ecoworld in Bengaluru's Bellandur. The seven-year deal, starting January 1, 2026, includes provisions for expansion and marks a substantial commitment to the city's thriving technology corridor, signaling ongoing demand for prime commercial real estate.
Honeywell Expands Bengaluru Footprint
Technology firm Honeywell has finalized a lease for 399,220 square feet of office space at RMZ Ecoworld in Bellandur, Bengaluru. The transaction, executed through its Indian entity Honeywell Technology Solutions Lab, represents one of the largest single-tenant deals in the city's technology corridor.
Lease Details and Expansion Plans
The lease commences on January 1, 2026, with a seven-year tenure. The rental cost is set at ₹4.39 crore per month, equating to ₹110 per square foot. Over the full term, Honeywell's total rental outgo is projected at approximately ₹429 crore, excluding any escalations or additional charges. A 5% annual escalation clause is built into the agreement, consistent with market standards for Grade A properties in prime areas.
Honeywell has also secured options to expand its footprint within the RMZ Ecoworld campus, with plans to take an additional 136,000 square feet across multiple floors. This phased expansion is expected to be completed by June 1, subject to agreed conditions.
Sustained Demand for Prime Office Space
Industry experts view this lease as a strong indicator of continued demand from global technology and engineering firms for high-quality office spaces in Bengaluru. The Outer Ring Road stretch remains a magnet for Global Capability Centers (GCCs).
Large floor plates, campus-style environments, and proximity to talent pools are critical factors driving such decisions. Bellandur continues to be a top-tier micro-market despite new supply entering the area. Bengaluru's status as India's premier office leasing market is reinforced by such large-scale transactions, reflecting stable return-to-office strategies and resumption of headcount growth in key sectors.
