Honeywell Technology Solutions Lab Pvt Ltd has leased an office space, measuring 399,220 sq ft, in Bengaluru's Bellandur region. As per the property registration documents, it has been leased for a period of seven years for a total rent of ₹429 crore.

Located in a building named 'RMZ Ecoworld', the owner of the office space, Arliga Ecoworld Business Parks Private Limited, has leased the property from January 1, 2026.

• The leased premises are spread across multiple floors, starting from the ground floor to the second floor and from the fourth floor to the ninth floors in RMZ Ecoworld.
• The company will pay a starting monthly rent of ₹4.39 crore, which is ₹110 per square foot per month.
• As per the agreement, the lease period is of seven years for a total rent of ₹429 crore, with a 5% annual escalation clause.
• According to the documents, Honeywell has paid a security deposit of ₹26.85 crore.
• Along with the office space, the company has also leased 499 parking spaces for cars.
• The lease further has an expansion plan, with the company having an option for extra space at RMZ Ecoworld Campus 5B, consisting of 55,619 sq ft on the third floor and 80,541 sq ft on the fourth floor, on or before June 1, 2026.

The leasing of office spaces in India's major nine cities has reached 82.6 million sq ft in 2025, a marginal 1% year-on-year increase due to the growing demand from both domestic and international companies.

Major cities such as Bengaluru, Mumbai and Delhi-NCR have together accounted for around 61% of total space absorption. These cities have leased 22.2 million sq ft of office spaces in the fourth quarter of the year itself. Factors such as flexible spaces, technology and BFSI corporates were responsible for 60% of total real estate absorption in 2025.

India's office market was largely powered by Global Capability Centres (GCCs), which accounted for 39% of the total absorption in Q4 2025. GCCs have attracted multiple global firms with the aim to expand their presence in India.

The long term lease period of seven years gives the company an assurance of stability and cost predictability. With Honeywell's office space lease in Bengaluru, the company is securing an expansive space of nearly 4 lakh sq ft in RMZ Ecoworld for efficient space planning, operational synergy, and the ability to house a significant workforce in one location.