Morgan Stanley Advantage Services Leases 1.6 Lakh Sq Ft in Bengaluru Key Highlights:
- Lease Size & Location: 1.58 lakh sq ft on 8th & 9th floors of Ecoworld, Outer Ring Road–Sarjapur Road, Bengaluru.
- Monthly Rent: ₹1.92 crore at ₹121 per sq ft, with 15% escalation every three years.
- Lease Tenure: 5 years, starting January 10, 2026.
- Security & Parking: ₹11.89 crore security deposit; ₹6.3 lakh per month for 158 car parking spaces.
- Intended Use: IT-enabled services, computer software, and financial services offices.
- Market Significance: Highlights Bengaluru’s continued appeal for global financial institutions; Outer Ring Road–Sarjapur Road commands premium leases and recorded highest office absorption in India in 2025.
Morgan Stanley Advantage Services Private Limited entered into a lease agreement to lease about 1.6 lakh sq ft of Grade ‘A’ office space in Bengaluru’s key micro-markets on the Outer Ring Road-Sarjapur road at a lease rent of about ₹1.92 crore per month as per Propstack. Bengaluru continues to be the preferred destination for global financial institutions as well as multinational corporations to set up offshore businesses in the country.
The office space is in Ecoworld-an ongoing large integrated commercial development, belonging presently to Brookfield Properties. The deal is a new lease for the 8th and 9th floors of the building, with a total chargeable area of about 1,58,533 sq ft. Of this, the 8th floor measures 79,618 sq ft, while the 9th floor spans 78,914 sq ft, as per the registration documents.
The office area is situated in Ecoworld, which is currently a large mixed- use commercial development, and is presently owned by Brookfield Properties. The arrangement is a new tenancy for the 8th and 9th stories of the edifice, with a total chargeable area of approximately 1, 58, 533 sq ft. Of this, the 8th floor area is 79, 618 sq ft, whereas the 9th floor area is 78, 914 sq ft, according to the registration papers.
The rental agreement is valid for five years, which commenced on January 10, 2026. The remuneration to be paid by Morgan Stanley Advantage Services on a rental basis works out to almost ₹1.92 crores on a monthly basis against a rental of ₹121 per sq ft. The tenant has also paid a security amount of almost ₹11.89 crores.
Key terms of the lease include:
- Lease tenure of five years
- Monthly rent of around ₹1.92 crore
- Base rent fixed at ₹121 per sq ft
- 15% rent escalation every three years
- Security deposit of ₹11.89 crore
In addition to the base rental, the company will pay an extra ₹6.3 lakh per month for 158 car parking spaces, according to the documents. The lease agreement specifies that the premises will be used for computer software, IT-enabled services, and/or financial services, a segment that continues to drive office space demand in Bengaluru’s top business districts.
The stretch between the Outer Ring Road and Sarjapur maintains its place as the city's preferred office destination through robust absorption by global capability centres (GCCs), technology parks, and multinational BFSI players. This stretch offers some of the highest office lease rates within the city because of the many premium office spaces, availability of capable resources within the area, and improvements to the infrastructure.
The original developer of Ecoworld was RMZ Corp, who in 2020 had divested their significant share in the real estate business to Brookfield Asset Management. While conducting this historic deal, RMZ had transferred ownership of 12.8 million square feet of their overall 67 million square feet in the portfolio for an estimated $2 billion. The Ecoworld site, being the largest site in the portfolio of RMZ, covers 14 million square feet overall, out of which 6.7 million square feet has been taken over by Brookfield.
The deal is part of the firm’s significant commercial lease agreements concluded by Morgan Stanley in the Indian real estate space. In 2024 itself, Morgan Stanley Advantage Services entered into an office space lease for 1 million sq ft in Mumbai’s Oberoi Commerze III building in Goregaon East for over nine years on an average rent of ₹15.96 crore per month. In the Mumbai office space lease, the space on 16 floors aggregates to 10.01 lakh sq feet chargeable area and has been registered in August 2024.
Recent large office leasing transactions highlight Bengaluru demand:
- Qualcomm India leased 2.56 lakh sq ft in Bengaluru for five years at a total rent of ₹184 crore
- Amazon renewed its lease for 6.76 lakh sq ft at Constellation Business Park in 2024
Industry experts say the transaction underlines Bengaluru’s continued appeal to global financial institutions seeking high-quality office spaces in well-established business districts.
According to Cushman & Wakefield's Office Q4 MarketBeat Report, 2025, Bengaluru recorded the highest total absorption of 14.4 million sq ft, followed by Delhi NCR with a total absorption of 10.9 million sq ft, thereby constituting more than 40% of the total absorption. The remaining eight major cities of Mumbai, Hyderabad, Pune, and Chennai also recorded healthy numbers in terms of absorption levels for leases.
“Bengaluru’s status as a critical offshore hub for global finance is evident in this lease. The Outer Ring Road’s ability to command higher rentals while retaining large BFSI clients highlights the value of its ecosystem, which combines deep talent availability, robust infrastructure, and high-quality commercial developments,” said Raja Seetharaman, Co-founder, Propstack.
Image- brookfieldproperties.com
