Ola Group has renewed the lease for approximately 4.27 lakh sq. ft. of office space in Bengaluru, with a total rental commitment of around ₹281 crore for five years. The renewal has been executed through two separate lease agreements for office premises at Prestige RMZ Star Tech in Koramangala, according to property registration documents.
The agreements came into effect on October 16, 2025, and allow Ola to continue operating from its existing office campus instead of shifting to a new location. The transaction marks a significant office lease renewal in one of Bengaluru’s well-known commercial micro-markets.
Details of the Five-Year Agreement
The renewed lease carries a monthly rental rate of ₹103.5 per sq. ft. Across both agreements, the combined monthly rental outgo is close to ₹4.42 crore. As part of the lease arrangement, ANI Technologies has provided a security deposit of ₹11.54 crore.
The agreements also include a 15% rent escalation after three years, which means the rental payout will increase during the lease period as per the agreed terms. The five-year tenure gives Ola continued access to a large office footprint in Bengaluru while retaining the same business address.
Lease Continues at Revised Rental Rate
Ola had originally leased the office premises in January 2021, when the rent was ₹90 per sq. ft. per month. The rental was later revised to ₹103.5 per sq. ft. in 2023. The latest renewal continues at this revised rate.
This means the company has extended the lease under the existing rental structure rather than moving to a fresh commercial location. For a large occupier, renewing an existing office space helps maintain operational continuity and avoids the disruption that often comes with relocation.
Ola Continues Operations from Prestige RMZ Star Tech
The leased office space is located at Prestige RMZ Star Tech, a commercial office development in Koramangala. The property has served as Ola’s Bengaluru office for several years, and the renewed agreements ensure that the company will continue operating from the same campus.
Koramangala remains one of Bengaluru’s established commercial office destinations. The locality is home to several technology companies, startups, and corporate offices. Its central location, strong social infrastructure, and connectivity to other business hubs make it a preferred office location for many occupiers.
The area also offers access to residential neighbourhoods, retail centres, restaurants, and public transport, making it convenient for both companies and employees.
What This Renewal Means for Ola
With this renewal, Ola has secured over 4.27 lakh sq. ft. of office space at Prestige RMZ Star Tech in Koramangala for another five years. The agreement covers key commercial terms, including rental value, lease tenure, security deposit, and scheduled rent escalation after three years, giving the company a clear long-term occupancy structure.
By continuing from its existing campus, Ola avoids relocation while maintaining workplace stability in one of Bengaluru’s established commercial hubs. The renewed lease allows the company to retain its current office setup and continue operations from the same location under fresh long-term agreements.
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Impact on Commercial Real Estate
The renewal adds to Bengaluru’s ongoing office leasing activity and reflects continued demand for large commercial spaces in established business locations. For Koramangala, a transaction of this scale reinforces its position as a key office micro-market in the city.
Such lease renewals also support occupancy stability for commercial office assets. When large occupiers continue from the same location, it helps maintain long-term rental visibility for landlords while showing that well-connected office developments remain relevant for major corporate users.
SOURCE: Hindustan Times
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