Ola Renews 4.27 Lakh Sq Ft Office Lease in Bengaluru, Monthly Rent Touches ₹4.42 Crore

Ola Group has renewed leases for approximately 4.27 lakh sq ft of premium office space in Bengaluru, reaffirming its long-term commitment to the city despite evolving workplace trends across the technology sector.

According to property registration documents, Ola Electric Technologies Pvt. Ltd. and ANI Technologies Pvt. Ltd., the parent company of the Ola ride-hailing platform, have extended their office leases at Prestige RMZ Star Tech in Koramangala for another five years.

Under the first agreement, Ola Electric Technologies has renewed the lease for around 1.68 lakh sq ft spread across the fourth, fifth and sixth floors of the commercial complex. The lease commenced on October 16, 2025, with a monthly rental of ₹1.74 crore at ₹103.5 per sq ft. The agreement also includes a security deposit of ₹4.54 crore and provides for a 15 percent rent escalation after three years.

In a separate agreement, ANI Technologies has renewed its lease for approximately 2.59 lakh sq ft across the ground, first, second, third, seventh and eighth floors of the same building. The company will pay around ₹2.68 crore in monthly rent at the same rental rate of ₹103.5 per sq ft. The lease carries a security deposit of ₹11.54 crore and includes a similar rent escalation clause after three years.

Together, the two lease renewals represent nearly 4.27 lakh sq ft of office space and a combined monthly rental commitment of about ₹4.42 crore. Property data platform Propstack noted that both agreements were executed at identical rental rates, reflecting the sustained demand for quality commercial office space in prime Bengaluru locations.

The office premises were originally leased by Ola Group entities in 2021 at ₹90 per sq ft per month before rentals were revised to ₹103.5 per sq ft in 2023. The latest renewals indicate the company’s continued investment in its Bengaluru operations.

Koramangala remains one of Bengaluru’s most preferred commercial districts, attracting technology firms, startups and corporate occupiers due to its strong infrastructure, connectivity and proximity to key business corridors. The latest transaction further highlights the resilience of the city’s Grade A office market and continued confidence among leading technology companies in high-quality commercial real estate.