IT giant Infosys has reportedly leased out a huge office space in Bengaluru to cater for the employees who are returning to the office. The company has leased around 5 lakh square feet of office space in the North Gate area of Bengaluru, reported Money Control.
According to the report, the deal will cost around ₹2.3 crore as monthly rent and the time period of the agreement is 10 years, starting from June 1. Infosys also paid the security deposit of ₹16.4 crore while leasing the building.
North Gate is in Grade – A SEZ park which is located near Yelahanka area of Bengaluru. The rent will reportedly increase 12% every three years until 2032.
In the entire leased building, Infosys will have control over 20, 785 sq ft on the ground floor, 43, 164 sq ft on the first floor, 57,890 sq ft on the second floor, 57,778 sq ft on the third floor, 59,984 sq ft on the fourth floor, 58,908 sq ft in the fifth floor which fall under Tranche 1 area in the deed.
In Tranche 1 area of Wing A, Infosys leased out 54,656 sq ft on the sixth floor, 58,925 on the seventh floor and 58904 on the eighth floor of the building, said the report.
{{/usCountry}}In Tranche 1 area of Wing A, Infosys leased out 54,656 sq ft on the sixth floor, 58,925 on the seventh floor and 58904 on the eighth floor of the building, said the report.
{{/usCountry}}The parking area is 4,69,999 sq ft and it can reportedly accommodate around 650 cars.