Amazon has made a major real estate move in North Bengaluru by leasing over 1 million square feet of office space at a monthly rent of ₹6.1 crore. The newly leased premises, located in Kattigenahalli near the Kempegowda International Airport, is expected to become a significant tech hub, housing over 6,000–7,000 employees. The long-term lease agreement not only reflects Amazon’s expanding footprint in India but is also poised to catalyze commercial and residential development in the area.
Deal Overview and Lease Details
According to lease documents reviewed by data analytics firm Propstack, Amazon Development Centre India and Amazon Seller Services signed a lease with Sattva Horizon Private Limited for a sprawling 11-floor office building.
Key Lease Highlights:
- Location: Kattigenahalli, Airport Road, North Bengaluru
- Monthly Rent: ₹6.1 crore
- Total Area: 10 lakh+ sq ft (Chargeable: 9.86 lakh sq ft, Carpet: 7.14 lakh sq ft)
- Per Sq Ft Rate: ₹62.04 (based on carpet area)
- Lease Term: 10 years (starting October 9, 2024)
- Rent Escalation: 15% every 3 years
- Security Deposit: Nil
Real estate analysts believe this transaction could enhance commercial demand in the north Bengaluru corridor, especially given its strategic location and proximity to the international airport.
Location Advantage: Kattigenahalli, Airport Road
Kattigenahalli is an established micro-market in North Bengaluru, located approximately 25 minutes from the Kempegowda International Airport. The area is known for its strong infrastructure, excellent road connectivity, and growing demand in both residential and commercial real estate.
Residential Highlights:
- 2BHK Rent Range: ₹20,000–₹25,000/month
- Capital Values: ₹80 lakh to ₹1 crore
- Annual Appreciation: 10–15%
Commercial Highlights:
- Ground-Floor Rents: ₹80–₹100 per sq ft
- Annual ROI (Commercial): ~6%
- Residential Yield: ~3–4%
Summary Table: Amazon Lease Deal Highlights
| Feature | Details |
|---|---|
| Total Area Leased | 1 million+ sq ft |
| Monthly Rent | ₹6.1 crore |
| Per Sq Ft Rent (Carpet Area) | ₹62.04 |
| Lease Term | 10 years |
| Rent Escalation | 15% every 3 years |
| Location | Kattigenahalli, North Bengaluru |
| Developer | Sattva Horizon Pvt Ltd |
| Employee Capacity | 6,000–7,000 employees |
| Start Date | October 9, 2024 |
Past Amazon Deals in Bengaluru
This move follows Amazon’s earlier lease renewal in November 2023, where Amazon Development Centre India renewed 6.76 lakh sq ft at the Taurus 3 facility in Constellation Business Park. That 5-year deal, registered on October 18, 2024, started with a monthly rent of ₹4.92 crore and was signed with Bagmane Developers and B N Neetish Purushottama.
Expert Commentary
While Amazon has not issued a formal statement, industry insiders are optimistic. A Bengaluru-based real estate consultant noted:
“This lease signals long-term corporate confidence in North Bengaluru’s infrastructure. We expect more tech players to follow suit, further boosting demand for both office and residential spaces.”
Although the Sattva Group declined to comment, the deal’s scale and structure speak volumes about market confidence in the region.
FAQs
1. Where is the new Amazon office located in Bengaluru?
The new office is in Kattigenahalli, near Airport Road, North Bengaluru—just 25 minutes from Kempegowda International Airport.
2. How much space has Amazon leased in this deal?
Amazon has leased over 1 million sq ft, with a carpet area of 7.14 lakh sq ft and a chargeable area of 9.86 lakh sq ft.
3. What is the monthly rent for the space?
Amazon will pay ₹6.1 crore per month as rent.
4. What are the lease terms?
The lease is for 10 years, starting from October 9, 2024, with a rent escalation of 15% every three years and no upfront deposit.
5. What impact could this deal have on local real estate?
Experts believe it could boost demand in both residential and commercial sectors in North Bengaluru, making it a new hotspot for investors and developers.