Apple India Expands Retail Footprint with New Lease at Sky City Mall in Mumbai
Apple India has leased 12,616 square feet at Sky City Mall in Mumbai for a minimum monthly rent of ₹17.35 lakh, according to real estate data analytics firm CRE Matrix. The lease agreement is for a period of 10 years and 10 months with a 10-month rent-free period.
Apple IndiaSky City MallMumbaiRetail ExpansionReal EstateReal Estate MumbaiJun 05, 2025
The lease agreement, reviewed by CRE Matrix, is for a period of 10 years and 10 months, with a 10-month rent-free period. The starting monthly rent is ₹138 per square foot, and the minimum payable rent is ₹17,35,104. Additionally, Apple will share 2% of its revenue per quarter for the first 42 months, which will then increase to 2.5% per quarter.
Apple India currently operates two stores, one in Mumbai and another in New Delhi. In April 2023, Apple opened its first two official stores in India, located in Saket (Delhi) and BKC (Mumbai). The company has also announced plans to open four more stores in the country, in Pune, Bengaluru, Delhi-NCR, and Mumbai. These expansions underscore Apple's commitment to strengthening its retail presence in India.
Apple began manufacturing iPhones in India in 2017, and last month, government sources confirmed that the company's investment plans for India remain intact. Apple aims to establish a major manufacturing base for its products in the country, further solidifying its position in the Indian market.
The lease at Sky City Mall in Mumbai is a strategic move that aligns with Apple's broader goals of increasing its retail and manufacturing presence in India. This expansion is expected to enhance customer access to Apple products and services, while also contributing to the local economy and job market.
Frequently Asked Questions
What is the size of the leased space at Sky City Mall in Mumbai?
Apple India has leased 12,616 square feet of space at Sky City Mall in Mumbai.
What is the minimum monthly rent for the leased space?
The minimum monthly rent for the leased space is ₹17.35 lakh.
How long is the lease agreement for?
The lease agreement is for a period of 10 years and 10 months, with a 10-month rent-free period.
What are Apple's plans for additional stores in India?
Apple plans to open four more stores in India, located in Pune, Bengaluru, Delhi-NCR, and Mumbai.
When did Apple begin manufacturing iPhones in India?
Apple began manufacturing iPhones in India in 2017.
Related News Articles
Maharashtra's Real Estate Market Sees Upsurge in Property Registrations
Maharashtra's real estate market experiences a boost in property registrations and revenue despite unchanged RR rates, indicating a shift towards high-value transactions.
Top Stock Picks for Short-Term Gains: Bajaj Finserv, HDFC Life, HDFC Bank, and LIC Housing Finance
Market tech analysts Soni Patnaik, Mitessh Thakkar, and F&O analyst Rajesh Palviya recommend these stocks for short-term gains.
3 Financial Stocks Show Promise, Real Estate Overhyped: Samir Arora
Samir Arora, Founder of Helios Capital, highlights the potential of some NBFCs and microfinance companies, while expressing concerns about the real estate sector being overdone. He believes that HDFC Bank, Kotak Bank, and Bajaj Finance, which have underpe
NBT Office Relocation and Pune Book Festival Expected to Draw 7.5 Lakh Visitors
The National Book Trust (NBT) is set to shift its office to the city, a move that coincides with the highly anticipated Pune Book Festival. The festival, expected to attract 7.5 lakh visitors, is a significant cultural event that showcases a wide array of
Metro Brands Promoters Acquire Five Luxury Apartments in Mumbai's Worli for ₹405 Crore
The promoters of footwear retailer Metro Brands have made a significant investment in Mumbai's luxury real estate market by purchasing five apartments in the Worli area for ₹405 crore. These apartments are located in one of the city's tallest buildings, P
Maharashtra Real Estate: Majority of Developers Update Project Details for MahaRERA Compliance
A significant number of real estate developers in Maharashtra have taken steps to improve their compliance with the Maharashtra Real Estate Regulatory Authority (MahaRERA) by updating their project details. This move reflects a growing commitment to trans