US-headquartered technology firm Honeywell has made a major strategic move in Bengaluru’s commercial real estate by leasing 399,220 square feet of office space at RMZ Ecoworld in Bellandur through its Indian arm, Honeywell Technology Solutions Lab Pvt Ltd, according to property registration documents. This transaction highlights Bengaluru’s appeal as a prime destination for global technology firms.
The lease, effective from January 1, 2026, spans a seven-year term and covers multiple floors at RMZ Ecoworld, reflecting Honeywell’s need for a large, contiguous workspace in one of the city’s most dynamic tech corridors. The agreement ranks among the largest single-tenant office leases in Bengaluru this year.
Under the terms of the deal, Honeywell will pay a monthly rent of roughly ₹4.39 crore, or about ₹110 per square foot, with a 5% annual escalation and a security deposit of ₹26.85 crore, bringing the total lease commitment to an estimated ₹429 crore over the seven-year period, excluding other charges.
The lease also includes an expansion option, allowing Honeywell to take additional space within the RMZ Ecoworld campus, potentially adding over 136,000 square feet on other floors. Analysts note that this underscores the continued demand for grade-A office space in Bengaluru, particularly along the Bellandur and Outer Ring Road corridors, which remain hotspots for multinational corporations and tech startups.
Honeywell’s move further reinforces Bengaluru’s status as a hub for premium projects, attracting global firms seeking modern infrastructure, skilled talent, and a vibrant commercial ecosystem. As companies like Honeywell expand in the city, it also creates opportunities for developers and investors in Bengaluru’s growing office space market, signaling robust demand for high-quality commercial properties.
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