Apple Expands in Hyderabad: Leases Additional 64,125 sq ft at WaveRock IT Park
Apple India has leased an additional 64,125 sq ft of office space in Hyderabad for a monthly rent of ₹80.15 lakh for five years, documents accessed by Propstack showed. This marks a significant expansion of Apple’s existing offices located in the project by TSI Business Parks Ltd in Hyderabad, bringing its total footprint to over 5 lakh sq ft.
The additional space Apple recently leased is located in WaveRock Tower 2.1 in Nanakramguda. The lease is from TSI Business Parks (Hyderabad) Private Limited, with the agreement starting on July 1, 2025. The lease covers the upper ground and third floors of the tower and has been signed for 60 months. Apple will pay a monthly rent of ₹80.15 lakh at a rate of ₹125 per sq ft. This includes a warm shell rent of ₹74.18 per sq ft and a fit out rent of ₹50.82 per sq ft.
A warm shell rent refers to the rental cost for office space that comes with basic interior work already done, making it nearly ready to occupy. Apple has paid the landlord a security deposit of ₹4.8 crore. The documents showed that the rent would increase by 4.77% annually over the lease period.
Apple has been designated 64 car parking spaces (1 reserved space for every 1,000 sq. ft. of leasable area) at no additional cost. Each space can be used for either one car or up to six two-wheelers. The agreement showed that additional parking spaces may be provided, subject to availability and payment of extra rent.
The lease has a lock-in period of three years from the rent commencement date. During this time, neither party can terminate the lease, except under the specific conditions mentioned in the agreement. Apple’s Hyderabad office, officially inaugurated by CEO Tim Cook in May 2016, serves as a key development hub for Apple Maps, specializing in geospatial technology and data modeling.
Apple has also been active in other real estate transactions in India. Last month, Apple leased around 2.7 lakh sq ft of office space in real estate developer Embassy Group’s project Embassy Zenith in Bengaluru for a 10-year term, with a total rental outlay of over ₹1,010 crore, setting a benchmark with lease rates touching almost ₹235 per sq ft per month. In May 2025, Apple India leased 7997.8 sq ft of retail space in North Bengaluru's upscale Phoenix Mall of Asia for an annual rent of ₹2.09 crore for 10 years, according to documents accessed by Propstack. The lease has a tenure of 10 years with a 15% escalation in both rent and security deposit every three years.
Real estate experts say Foxconn’s new facility in Bengaluru is driving demand for homes and commercial spaces in Devanahalli, supported by job creation and improving infrastructure. Foxconn is the largest manufacturer of iPhones, and the second-biggest facility outside China in Devanahalli near Bengaluru, being set up at an investment of $2.8 billion (about ₹25,000 crore). The Taiwanese electronics major has recently begun small-scale production of the iPhone 17 at the plant, which is its second-largest manufacturing unit, according to sources cited by PTI.
