US-based technology major Honeywell has significantly expanded its India footprint by leasing nearly 400,000 square feet of office space at RMZ Ecoworld, Bellandur, Bengaluru. The long-term lease underscores Honeywell’s continued commitment to scaling its Global Capability Center (GCC) operations in one of India’s most prominent technology corridors.
Executed through Honeywell Technology Solutions Lab, the deal ranks among the largest single-tenant office transactions in Bengaluru’s Outer Ring Road (ORR) micro-market.
Lease Details
- Leased Area: 399,220 sq ft
- Location: RMZ Ecoworld, Bellandur, Bengaluru
- Lease Start Date: January 1, 2026
- Lease Tenure: 7 years
- Monthly Rent: ₹4.39 crore
- Rental Rate: ₹110 per sq ft
- Total Lease Value: ~₹429 crore (excluding escalations and additional charges)
- Annual Escalation: 5%
The agreement reflects prevailing market benchmarks for Grade A commercial assets in Bengaluru’s prime technology zones.
Built-in Expansion Flexibility
Honeywell has secured expansion options for an additional 136,000 sq ft within the RMZ Ecoworld campus. The phased expansion is planned across multiple floors and is expected to be completed by June 1, subject to agreed conditions.
This flexibility highlights a forward-looking GCC growth strategy, allowing Honeywell to scale capacity in line with business and talent requirements.
Bengaluru ORR: A Preferred GCC Destination
Industry experts view this transaction as a clear indicator of sustained demand from global enterprises for GCC-ready office infrastructure in Bengaluru.
Key factors reinforcing Bellandur and the ORR corridor as a GCC hotspot include:
- Large, scalable floor plates
- Campus-style office environments
- Proximity to deep technology and engineering talent pools
- Established ecosystem supporting global delivery models
Despite new supply entering the market, Bellandur continues to retain its position as a top-tier micro-market for GCC-led occupiers.
Implications for India’s GCC Ecosystem
The Honeywell lease reinforces several broader GCC trends:
- Long-term commitment by multinational enterprises to India-based GCCs
- Continued preference for high-quality, scalable office campuses
- Alignment with return-to-office strategies and renewed headcount growth
- Bengaluru’s role as India’s leading GCC and office leasing market
Large-format leases with expansion provisions signal confidence in India’s ability to support complex, global technology and engineering operations at scale.
Conclusion
Honeywell’s nearly 4 lakh sq ft lease at RMZ Ecoworld is more than a real estate transaction—it reflects the ongoing evolution and expansion of Global Capability Centers in India. As enterprises deepen their GCC strategies, Bengaluru’s ORR corridor continues to emerge as a critical enabler of global delivery, innovation, and talent-driven growth.
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