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🏥 Manipal Health Enterprises Leases 2.4 Lakh Sq Ft Space in Bengaluru in Mega ₹837 Crore Deal

Temasek-backed healthcare giant Manipal Health Enterprises Pvt Ltd has leased approximately 2.4 lakh sq ft of space in Bengaluru’s Konankunte area for nearly 30 years, with the total rental commitment crossing ₹837 crore.

📍 Location: Konankunte Village, Uttarahalli Hobli, Bengaluru South
📐 Area Leased: 2.4 Lakh Sq Ft
💰 Starting Monthly Rent: ₹1.36 Crore
📅 Lease Tenure: 29 Years & 11 Months
🚗 Parking: 211 Car Parks
💵 Security Deposit: ₹16.41 Crore

According to property registration documents accessed by CRE Matrix, the lease commenced on May 21, 2026, with rental payments beginning from September 21, 2026 after a four-month fit-out period.

The transaction further highlights the growing demand for large-scale healthcare infrastructure and long-term institutional leasing across Bengaluru’s commercial real estate market.

This follows several aggressive expansion moves by Manipal Health, including hospital acquisitions and long-term healthcare leasing deals across Mumbai and Bengaluru.

🏙️ OBEROI REALTY PAYS ₹247 CRORE FOR PRIME BANDRA LAND DEAL

Mumbai-based real estate giant Oberoi Realty has paid the first tranche of ₹247 crore for leasing an 11-acre prime land parcel in Bandra from the Rail Land Development Authority (RLDA) for 99 years.

📍 Location: Bandra East, Mumbai
📐 Land Parcel: 11 Acres
💰 Bid Value: ₹5,400 Crore
🏢 Planned Development: Premium Commercial Project

To execute the project, Oberoi Realty has also formed a Special Purpose Vehicle (SPV) named “Centerstage Realty Private Limited.”

According to the company’s regulatory filing:
▪️ ₹247.50 crore has already been paid as the first tranche
▪️ Additional ₹268.50 crore infused into the SPV
▪️ Remaining payment structure linked to future revenue generation till 2038

✨ Big Plans Ahead
Oberoi Realty plans to develop a large-scale commercial project on the site and is considering a “strata sale model” instead of a traditional leasing model.

CMD Vikas Oberoi stated that strong demand from corporates and institutional buyers for standalone office buildings makes the project strategically important for future cash flows.

📈 Why This Deal Matters:
▪️ One of Mumbai’s biggest commercial land transactions
▪️ Reinforces Bandra East & BKC belt as India’s premium office destination
▪️ Highlights growing demand for Grade-A commercial assets
▪️ Strengthens Oberoi Realty’s long-term Mumbai expansion strategy

⚠️ The company also highlighted rising construction costs due to global supply chain pressures, including increases in aluminium, glass, labour, and energy expenses affecting the real estate sector.