The new site will replace six Bangalore premises currently used by the investment bank when it opens in 2017, a spokesman told Reuters. The 4000 employees work in back office roles from IT to finance.

According to the Economic Times, property company Kalyani Developers will build a three-building campus for the bank on a 14 acre site.

The agreement is understood to be the biggest recorded commercial property deal in India's history and comes a month after Citi spent $175 million on 297,000 square feet in Mumbai.