Samsung R&D Institute-Bangalore renews office lease for 5 years

Bengaluru: Samsung Research and Development Institute India-Bangalore (SRI-B) has renewed its lease for 420,000 square feet of office space in Bengaluru with Bagmane Developers for a duration of five years.

The lease, which started in June this year, includes a lock-in period until April 2027.

According to a lease renewal deed shared by analytics firm Propstack, the firm will pay an annual rent of ?50 crore, with a 5% yearly escalation. This translates to ?102 per square foot per month.