Apple Inks Major Office Space Deal in Mumbai

Apple has increased its office presence in Mumbai’s Bandra Kurla Complex (BKC) by renewing a lease for a 31,023 sq ft office space at a monthly rent of Rs. 2.04 crore, information revealed through documents obtained from data analytics firm Propstack. Previously, the company leased an office space of 6,526 sq ft at Rs. 50 lakh per month. The company pays Rs. 768 per sq ft for the smaller office, compared to Rs. 660 per sq ft per month at the larger office space.

The renewed office leases come as Apple began selling the long-awaited iPhone 17 series in India, which led to both in-person and online excitement on launch day. Long lines formed early in the morning at stores as customers waited to buy the iPhone 17, iPhone 17 Pro Max, and iPhone Air.

Key Highlights

• Apple expands BKC office space to 31,000+ sq ft at Rs. 2.04 crore monthly rent.
• Apple inks 55-month lease for 37,549 sq ft in Maker Maxity Mumbai.
• Apple takes 2.7 lakh sq ft in Embassy Zenith, Bangalore at Rs. 1,000 crore deal.

Also Read: J P Morgan Leases Office Space in BKC for Rs 1000 Crore Over 10 Years

Specifically, it renewed its existing office leases at the Maker Maxity 4 building (owned by Agni Commex LLP) for office units on the 5th, 6th, 7th and 8th floors. In addition, Apple also signed a new lease for the completely 10th floor and terrace for five years. The total chargeable space belonging to Apple is 37,549 sq ft. Apple occupied rentable office space on the 5th, 6th, 7th, and 8th floors since 2021, according to the documents.

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Starting in June 2026, Apple will compensate Rs. 2.55 crore monthly for the space stipulated in the deal, which has a 55-month tenure and includes a 4 percent annual escalation, according to documents supplied by Propstack.

For a term of ten years and with all-in costs across the term projected to exceed Rs. 1,000 crore, Apple India Pvt Ltd has taken around 2.7 lakh sq ft of office space in Embassy Group’s development, Embassy Zenith in Bangalore, establishing a precedent with per sq ft per month lease rates of nearly Rs. 235 reported by Propstack.