Bengaluru, Aug. 26 -- Tata Consultancy Services (TCS) has leased 1.4 million sq ft at 360 Business Park in suburban Bengaluru's Electronic City, in one of the largest office lease transactions this year.

The information technology (IT) giant has taken space in two under-construction office towers on a 15-year lease. TCS will pay a Rs.112 crore deposit and a monthly rent of Rs.9.31 crore. With a 12% rental escalation every three years, the company will pay over Rs.2,000 crore in rent over the entire tenure, as per real estate data analytics platform Propstack.

The IT giant hadn't taken up new office space for a long time. However, as employees return to work, their office space requirements have also risen, property consultants said. The...