Applied Materials signs ₹855-crore lease for Bengaluru office space of 8.06 lakh sq ft in Whitefield

Bengaluru has witnessed one of its largest office space transactions with global semiconductor equipment maker Applied Materials finalising a lease for 8.06 lakh sq ft in Whitefield. The 10-year agreement is valued at ₹855 crore, with rent payments commencing from April 2025.

The leased premises are located in the ITPB-Endeavour (MTB 6) tower within the International Tech Park Bangalore, a prime technology hub. The arrangement covers the ground level and 15 upper floors of the building, at a monthly rent of nearly ₹5.97 crore, equivalent to ₹74 per sq ft. As per the agreement, the office leasing rent will increase by 15% every three years, while a security deposit of ₹35.8 crore has been placed.

Also read: Applied Materials boosts India’s semiconductor sector with $400 million Bengaluru investment

Company’s growing presence in India

Applied Materials has also secured the option to lease an additional three lakh sq ft in the upcoming Tower 8 of the same tech park, expected to be operational by late 2027. This expansion aligns with the company’s growing presence in India’s technology capital.

The deal comes as the semiconductor ecosystem gains policy and industry momentum in India, with recent announcements highlighting domestic chip development efforts.

Bengaluru continues to attract large-scale office space commitments from global corporations. In recent years, Tata Consultancy Services and Apple India have also signed multi-crore, multi-year leasing agreements, strengthening the city’s position as a major commercial real estate and technology hub.