Apple Expands Mumbai Office with Fresh Lease in BKC
Apple has significantly bolstered its India office portfolio by expanding its lease in Mumbai’s Bandra Kurla Complex (BKC), one of the country’s premier business districts. According to documents accessed by real estate data analytics firm Propstack, the tech giant has renewed its existing lease of 31,023 sq. ft. and added a fresh lease of 6,526 sq. ft. within Maker Maxity 4, owned by Agni Commex LLP.
The renewed lease of 31,023 sq. ft. comes at a monthly rental outlay of ₹2.04 crore, translating to ₹660 per sq. ft. The newly leased 6,526 sq. ft. space is priced at ₹50 lakh per month, or approximately ₹768 per sq. ft. Together, Apple’s overall chargeable office area at the property now stands at 37,549 sq. ft.
Apple’s tenancy spans multiple floors within Maker Maxity 4. The company has retained space on the 5th, 6th, 7th, and 8th floors, while the new lease covers the entire 10th floor along with terrace rights. The combined agreements have a tenure of 55 months, incorporating an annual rental escalation of 4%. From June 2026, Apple’s monthly rental outflow for these premises is projected to rise to ₹2.55 crore. The documents also reflect a security deposit of ₹22.76 crore.
Apple’s decision to enlarge its BKC footprint aligns with the launch of the iPhone 17 series in India, which has seen strong consumer response. Large crowds were reported outside Apple retail outlets in Mumbai, Delhi, and Bengaluru as the company rolled out the iPhone 17, iPhone 17 Pro Max, and iPhone Air. This strategic move underlines the brand’s growing operational scale in India.
The latest Mumbai deal is part of a broader strategy that has seen Apple steadily increase its corporate presence in major Indian cities. In Bengaluru, Apple India Pvt Ltd signed a 10-year lease in 2024 for 2.7 lakh sq. ft. at Embassy Group’s Embassy Zenith project. This agreement involved a total rental outlay exceeding ₹1,000 crore, making it one of the most significant single-tenant deals in the city. Lease rates there reached close to ₹235 per sq. ft. per month, setting benchmarks for Grade A commercial real estate.
In Hyderabad, Apple has leased an additional 64,125 sq. ft. of space at WaveRock IT Park, for which it pays a monthly rental of ₹80.15 lakh under a five-year term. This takes the company’s total office footprint in the city to nearly half a million sq. ft.
Parallel to its office strategy, Apple has been expanding its retail network. Its flagship Mumbai store at BKC and Delhi store at Saket opened in 2023, followed in September 2025 by the Apple outlet at Phoenix Mall of Asia in Bengaluru’s Hebbal area. The Bengaluru store spans 7,997.8 sq. ft. under a 10-year lease signed in late 2024. Rent payments for this outlet began in August 2025 at ₹2.09 crore annually, supported by a security deposit of ₹1.046 crore. Both rent and deposit are set to rise by 15% every three years.
Apple’s leasing activity reflects the continuing demand for premium commercial space in India’s top cities from multinational corporations. In BKC, rents for high-grade office floors remain among the highest in the country, with Apple’s deal averaging between ₹660 and ₹768 per sq. ft. The mix of long-term leases, multi-floor commitments, and significant security deposits highlights the brand’s confidence in India as both a consumer market and a base for its expanding operations.
