Honeywell signs ₹429 Crore, 7-Year office lease at Bengaluru’s RMZ Ecoworld

Honeywell leases 4 lakh sq ft at Bengaluru’s RMZ Ecoworld for ₹429 crore over 7 years, with expansion options and 499 parking spaces included

Global technology company Honeywell Technology Solutions Lab Pvt Ltd has finalized a major office lease in Bengaluru, securing nearly 4 lakh sq ft of space in the city’s Bellandur area for a seven-year period. Property registration documents accessed by Propstack reveal that the lease, valued at approximately ₹429 crore, covers multiple floors in RMZ Ecoworld, a prominent commercial complex owned by Arliga Ecoworld Business Parks Private Limited.

The leased premises measure 399,220 sq ft and span the ground to second floors as well as the fourth to ninth floors of the building. Honeywell will pay a starting monthly rent of ₹4.39 crore, translating to ₹110 per sq ft per month. The agreement includes a 5% annual escalation clause over the 84-month tenure. In addition, the company has deposited ₹26.85 crore as security.

The deal also provides Honeywell with 499 car parking spaces and an option to expand its footprint further. As per the agreement, the company can take up additional space at RMZ Ecoworld Campus 5B, comprising 55,619 sq ft on the third floor and 80,541 sq ft on the fourth floor, on or before June 1, 2026. This phased expansion plan underscores Honeywell’s long-term commitment to strengthening its presence in Bengaluru, a city that has emerged as a hub for global technology firms.

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While queries sent to Honeywell and Arliga Ecoworld Business Parks Private Limited remain unanswered, the lease reflects the continued momentum in India’s office market. According to CBRE’s “India Office Figures Q4 2025” report, office leasing across nine major cities touched 82.6 million sq ft in 2025, marking a marginal 1% year-on-year growth. Bengaluru, Mumbai, and Delhi-NCR accounted for 61% of total absorption, with technology, flexible workspace providers, and BFSI companies driving demand.

In the fourth quarter alone, leasing activity reached 22.2 million sq ft, with Global Capability Centres (GCCs) contributing significantly. GCCs captured a 39% share in Oct–Dec 2025 and are projected to drive 35–40% of total office space absorption in 2026. Honeywell’s lease deal aligns with this trend, highlighting the growing role of multinational firms in shaping India’s commercial real estate landscape.

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