Healthcare infrastructure expansion continues to gain momentum across India, and recent transactions by Manipal Health Enterprises Pvt Ltd highlight this trend. According to property registration documents accessed by CRE Matrix, the Temasek-backed healthcare company has leased 2.4 lakh sq ft of space in Bengaluru’s Konankunte area with a total rental commitment exceeding ₹837 crore.
Deal Details
Manipal Health Enterprises Pvt Ltd has leased approximately 2.4 lakh sq ft of space in Bengaluru’s Konankunte area for a period of 29 years and 11 months. According to property registration documents, the transaction was registered on May 18, 2026, and involved multiple landowners.
The property is located in Konankunte village, Uttarahalli Hobli, Bengaluru South. The lease agreement starts with a monthly rent of ₹1.36 crore, translating to nearly ₹57 per sq ft. Based on the starting rent, the healthcare company will incur an annual rental expense exceeding ₹16 crore during the initial year. This excludes future rent escalations outlined in the agreement.
The lease commencement date is May 21, 2026, while rent payments will begin on September 21, 2026.
What Makes This Lease Agreement Significant?
The lease agreement includes a four-month rent-free period, a common feature in large commercial real estate transactions. This arrangement allows tenants to complete interior fit-outs, install medical equipment, and operationalize facilities before rental obligations begin.
The agreement also requires a substantial security deposit of ₹16.41 crore and provides access to 211 car parking spaces. Over the lease tenure, the total rental commitment exceeds ₹837 crore. This highlights the scale of Manipal Health’s long-term investment in Bengaluru.
How Does This Lease Support Manipal Health’s Growth Strategy?
Large-format healthcare facilities require significant operational planning, specialized infrastructure, and long-term occupancy commitments. Therefore, by securing a nearly three-decade lease in Bengaluru, Manipal Health has strengthened its long-term presence in the city. Additionally, the transaction provides the company with a strategically located property to support future expansion and meet the growing demand for healthcare services.
The transaction also reflects the increasing demand for large healthcare campuses that can accommodate advanced medical services, patient care facilities, and future capacity additions.
In another major transaction, Manipal Health Enterprises Pvt Ltd acquired a 752.77 sq m land parcel along with a hospital building in Mumbai’s Andheri area for ₹495 crore.
The deal was registered on May 6, 2026, and involved a stamp duty payment of ₹29.22 crore. The acquired property includes a constructed hospital building with a built-up area of 20,663.80 sq m.
Why Are Healthcare Companies Investing Aggressively in Real Estate?
Healthcare providers across India are investing in both owned and leased properties to expand their operations. These investments help hospital operators secure prime locations, increase capacity, and improve access to healthcare services.
Manipal Health’s recent transactions in Bengaluru and Mumbai reflect this trend. The company’s property investments support its long-term growth plans and expanding healthcare network. Furthermore, as demand for healthcare services continues to rise, such investments are expected to play a key role in the sector’s growth.
Recent Transactions
Bengaluru’s commercial property market continues to witness strong activity across healthcare, warehousing, and office segments. Additionally, companies are securing large spaces to support expansion plans. Recent transactions highlight sustained demand for quality commercial assets across the city.
In a recent transaction, Global aerospace and defence major Airbus India Private Limited leased 1.51 lakh sq ft of office space at Titanium Tech Park in Bengaluru. In another transaction, Amazon India leased nearly 2.8 lakh sq ft of warehouse space in Bengaluru’s Nelamangala industrial corridor.
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