Short answer: No public record lists the flats GCC staff bought. What is published is where the offices leased. In H1 2026, Knight Frank says global capability centres took 60% of Bengaluru's office transactions, and the Outer Ring Road plus Whitefield took over 81% of all leasing. Start from a timed trip to that office. A city average will not give you the commute.
- Offices, not a buyer list. GCCs were 60% of space transacted in H1 2026, up from 53% a year earlier (Knight Frank).
- Two districts did the leasing. Outer Ring Road 52.1%. Whitefield, its Peripheral Business District East, 29.3%. Together, over 81%.
- North housing rose on a thin office share. PBD North took 3.2% of leasing. Residential sales in Knight Frank's North zone still rose 11%.
- Nearby prices did not move together. KR Puram's published range rose 20% in 12 months. The Sarjapur Road residential row rose 3%.
- A lease is a pin, not a price. IBM India's 283,321 sq ft at Bagmane Solarium City was registered on 1 Oct 2026. It does not set the rate for the flat next door.
The pitch is usually four corridors. The office data is narrower.
Where did the offices actually lease?
Knight Frank recorded 14.1 million sq ft of Bengaluru office transactions in H1 2026, 23% below a year earlier. Most of that gap is the base: H1 2025 included 8.3 million sq ft of pre-commitments, against 1.1 million this time.
GCCs were the largest occupier group. Knight Frank counts an entity that serves one offshore parent, where that parent owns it. On that definition they were 60% of transactions, from 53% a year earlier.
The map is lopsided.
| Business district (Knight Frank) | Places it names | Share of transactions, H1 2026 |
|---|---|---|
| Outer Ring Road | Hebbal ORR, Marathahalli ORR, Sarjapur Road ORR | 52.1% (24.0% in H1 2025) |
| PBD East | Whitefield | 29.3% |
| PBD West | Vijaynagar, Tumkur Road, Mysore Road | 5.0% |
| PBD North | Thanisandra, Yelahanka, Devanahalli | 3.2% |
| PBD South | Electronic City, Bannerghatta Road | 2.1% |
| ORR and PBD East together | Over 81% |
Source: Knight Frank, India Real Estate, H1 2026. Average transacted office rent was ₹102 per sq ft a month, up 8% in a year. That is an office rent, not a flat price.
Cushman & Wakefield's Grade A note for Q1 2026, collected to 20 March, is a second ruler. Gross leasing was 5.1 million sq ft, about 6% up on the year. GCCs were 48% of it, against 46% for full-year 2025. Its Outer Ring Road (Sarjapur, KR Puram, Hebbal) took 58%. Whitefield, which it calls Peripheral East, took 21%. Those two ORR shares are not the same map, and they are not the same quarter.
The zone split, and what it did to home sales, is in our North and East comparison.
What does one large lease show?
On 24 Oct 2026, ET Realty, the Hindustan Times and Business Standard reported the same filing. IBM India leased space at Radon tower, Bagmane Solarium City, from Akruthi Infra-Build Developers. Business Standard puts the area at 283,321 sq ft, in the Whitefield-Brookefield belt, on the ground floor and three floors above. The other two round it to 2.83 lakh sq ft.
The Hindustan Times, citing Propstack's reading of the documents, says the lease started on 5 Feb 2026, the deed was signed on 29 May 2026, and it was registered on 1 Oct 2026. Base rent is ₹88 per sq ft, about ₹2.49 crore a month, for 10 years, rising 15% every three years, with a ₹14.96 crore deposit. ET Realty puts the base-rent total near ₹343 crore. Fit-out rent, about ₹2.98 crore a month until March 2031, is a separate bill.
Business Standard, citing Colliers, says Bengaluru leased 5.2 million sq ft of offices in the third quarter, up 11% on the year. We could not open that Colliers page on 29 Oct 2026, so the line stays with the newspaper.
A long lease means one occupier committed to that park. It does not say where those people live, or what the next flat should cost. The papers do not call this deed a GCC. Knight Frank's 60% is a different fact.
What happened to home prices near those offices?
The city sold 27,968 homes, up 5% on the year. The average weighted price rose 9% to ₹9,354 per sq ft. Homes between ₹1 crore and ₹2 crore were 48% of launches. South took 34% of sales. East's sales fell 9%. North's rose 11%. The residential chapter ties that northern rise to the airport, Manyata and a Blue Line it then dated to June 2027. The office chapter gives PBD North 3.2% of leasing. A rising housing market is not the same thing as "the GCC leases were signed here".
| Location in Knight Frank's table | ₹ per sq ft, H1 2026 | Change, 12 months |
|---|---|---|
| KR Puram | 6,400 to 13,400 | 20% |
| Whitefield | 7,100 to 15,200 | 14% |
| Marathahalli | 7,310 to 15,500 | 15% |
| Hebbal | 7,800 to 15,000 | 11% |
| Yelahanka | 6,300 to 12,700 | 18% |
| Sarjapur Road | 5,700 to 11,300 | 3% |
| Electronic City | 5,700 to 8,600 | 10% |
These are bands for a location, not a quote for one tower. Whitefield's top is more than double its bottom. Sarjapur Road's residential row rose only 3%, even though an office label called "Sarjapur Road ORR" sits inside the district that took half the leasing. The two lists do not share a boundary. Electronic City rose 10% inside a district (with Bannerghatta Road) that took 2.1% of office deals. Yelahanka rose 18% where office leasing was 3.2%. Prices are not a tracing of the leases.
Realty Plus, on 22 May 2026, cited PropTiger's Q1 count: 15,603 homes sold in Bengaluru, up 33%, against a 2.2% fall in the cities that firm tracks, and an average price that crossed ₹10,050 per sq ft. That is not Knight Frank's ₹9,354, and it is not the same months.
Guidance value, water and the Purple Line walk for one belt are in our Whitefield rates guide. For one building, pull the encumbrance certificate on Kaveri (kaveri.karnataka.gov.in) and compare registered sales in that block with the asking price. Guidance value is the state's floor for stamp duty. It is not this quarter's office story.
Can you actually reach the office?
The Purple Line runs from Whitefield (Kadugodi) to Challaghatta. The Hindu reported that passenger service on the whole corridor was to start on 9 Oct 2023, quoting BMRCL. If the office is in Whitefield or at KR Puram on that line, you can test a metro trip this week. Walk it from the flat's gate. A distance printed on a brochure is not the walk.
The Blue Line along the ring road is not open in the same way. Knight Frank's residential chapter still had a June 2027 target for the link through Hebbal and Yelahanka to the airport. On 9 Oct 2026 the Times of India reported a phased opening, with the full airport corridor moving toward March 2028. Which stretch is running is in our metro lines guide.
A flat sold as "near the upcoming metro" can still be a poor trip to the actual park. Ride it at peak hour, both ways. BMRCL's notification is what makes a station real.
What the office lease does not check
The park can be full and the flat can still be the wrong file.
Section 3 of the RERA Act says a promoter shall not advertise or sell in a registerable project before it is registered. On rera.karnataka.gov.in, only Approved means registered. Read the completion date and the last quarterly update. The clicks are in our RERA search steps.
Inside the Greater Bengaluru Authority, registration turns on the e-Khata. A draft is not a final file. e-Aasthi 2.0 is where that status sits. A project that borrows a park's name can still sit in a panchayat, on a different record. A pin code often crosses two corporations, so use the ward and corporation lookup.
A plot still needs its layout authority, BDA, BMRDA or a local body, and a conversion order if the land was agricultural. Water is separate again. Ask whether the building has a BWSSB connection or is on tankers, and take a bill.
Buyer checklist
- [ ] Office written down as a building, not a park brand
- [ ] Peak-hour trip timed both ways from the flat's gate
- [ ] Metro counted only if you can board it today
- [ ] Price band checked against Kaveri sales in the same block
- [ ] Duty worked on the higher of price and guidance value
- [ ] RERA status Approved, with the completion date and last update
- [ ] e-Khata read: draft or final, and the name on it
- [ ] Corporation or panchayat taken from the ward, not the pin code
- [ ] Plot, if that is the shortlist: layout authority and conversion order
- [ ] Water source in writing, with a bill
Related reading
Frequently asked questions
No. The reports say where offices leased space. They do not count homes bought by GCC staff. Time the commute from the building on the offer letter.
60% of H1 2026 transactions on Knight Frank's definition, from 53% a year earlier. Cushman's Grade A series for Q1 2026 puts GCCs at 48%. The period and the buildings differ.
No. KR Puram, Whitefield and Marathahalli rose 20%, 14% and 15%. Yelahanka rose 18% and Electronic City 10% where the office share was small. Sarjapur Road's residential row rose 3%.
No. It is a 10-year office lease of 283,321 sq ft at ₹88 per sq ft a month, registered on 1 Oct 2026. A flat's price is what that block fetched on Kaveri, and the guidance value used for duty.
On the Purple Line, if you can walk to an open station. Full service from Whitefield (Kadugodi) to Challaghatta was reported from 9 Oct 2023. The Blue Line was still a target in October 2026, with the full airport corridor reported toward March 2028.
RERA status, draft or final e-Khata, the corporation or panchayat, and whether water is BWSSB or tankers. For a plot, add the layout authority and conversion. The office lease does not cover any of these.
Lawyer note: The leasing figures and price ranges here come from the reports named below. They are not a valuation of your flat. A property lawyer should read the title, the khata and the RERA file before you pay.
Sources
Checked 29 Oct 2026. News reports are marked. Consultant figures stay inside the way each firm draws a district.
- Knight Frank, India Real Estate, H1 2026 (office transactions, GCC share, district split, rents; residential sales, launches, prices): https://content.knightfrank.com/research/3116/documents/en/india-real-estate-office-and-residential-market-h1-2026-12927.pdf
- Cushman & Wakefield, Bengaluru Office MarketBeat, Q1 2026 (to 20 March 2026): https://assets.cushmanwakefield.com/-/media/cw/marketbeat-pdfs/2026/q1/apac-and-gc/india-bengaluru-office-q1-2026.pdf
- ET Realty, IBM India lease at Bagmane Solarium City, 24 Oct 2026 (news, via Propstack): https://realty.economictimes.indiatimes.com/news/commercial/ibm-india-leases-2-83-lakh-sq-ft-office-space-in-bengaluru-for-10-years/135160453
- Hindustan Times, same lease, dates and rent, 24 Oct 2026 (news, via Propstack): https://www.hindustantimes.com/real-estate/ibm-india-leases-2-83-lakh-sq-ft-of-office-space-in-bengaluru-for-343-crore-over-10-years-101792760720102.html
- Business Standard, 283,321 sq ft in Whitefield-Brookefield, and a Colliers Q3 line, 23 Oct 2026 (news): https://www.business-standard.com/companies/news/ibm-india-leases-2-83-lakh-sq-ft-at-bagmane-tech-park-in-bengaluru-126102301281_1.html
- Realty Plus, citing PropTiger Q1 2026, 22 May 2026 (news): https://www.rprealtyplus.com/news-views/bengalurus-housing-market-finds-growth-engine-in-gccs-and-startups-125436.html
- The Hindu, Purple Line, Whitefield to Challaghatta, from 9 Oct 2023 (news, quoting BMRCL): https://www.thehindu.com/news/cities/bangalore/bengaluru-operations-on-entire-whitefield-challaghatta-purple-line-metro-corridor-to-start-on-october-9/article67397106.ece
- Times of India, Blue Line phased opening toward March 2028, 9 Oct 2026 (news): https://timesofindia.indiatimes.com/city/bengaluru/bengaluru-metro-blue-line-delayed-to-march-2028-how-the-58km-airport-corridor-will-open-in-phases-which-stretches-will-be-ready-first-and-when-commuters-can-expect-services-from-central-silk-board-to-kia/photostory/134829302.cms
- Karnataka RERA project search: https://rera.karnataka.gov.in/viewAllProjects?language=en
- MoHUA, RERA FAQ: https://www.mohua.gov.in/static/uploads/2025/12/542144159b61c980253a694f478d3a5d.pdf
- Kaveri, Karnataka stamps and registration: https://kaveri.karnataka.gov.in/
