Apple Leases 2.7 Lakh Sq Ft Office Space in Bengaluru for 10 Years

Apple India Pvt Ltd has 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 ₹1,000 crore. This lease sets a benchmark with rates touching almost ₹235 per sq ft per month, according to documents accessed by Propstack.

The tech giant will pay a total of ₹1,010 crore over 10 years, inclusive of rent, parking, and common area maintenance charges. Apple has leased nine floors, from the 5th to the 13th, with a carpet area of 1.96 lakh sq ft and a chargeable area of 2.68 lakh sq ft in Bengaluru’s Sankey Road from Mac Charles (India) Ltd. The company will pay ₹6.31 crore per month, translating to ₹235 per sq ft.

Apple will receive a total of 362 car parking spaces as part of the deal. The company has deposited ₹31.57 crore as security, and the agreement includes an annual rent escalation of 4.5%. The company also has the option to lease additional space measuring 1.21 lakh sq ft across the ground to fourth floors.

Apple Inc has leased office space in a commercial project on a 2.3-acre land parcel, previously occupied by the Le Meridien hotel, overlooking Bangalore Golf Club and Cubbon Park. Embassy Group, which acquired the property years ago, is developing the tower comprising two basements, a ground floor, and 13 upper floors.

Apple's 10-year commitment for prime office space in Bengaluru highlights their immense confidence in the Indian market. This investment in talent and operations runs parallel to their manufacturing scale-up for iPhones with companies like Foxconn. Together, these moves solidify India’s crucial position at the heart of Apple’s global supply chain and innovation efforts, said Raja Seetharaman, co-founder Propstack.

In May 2025, Apple India leased 7,997.8 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. The lease has a tenure of 10 years with a 15% escalation in both rent and security deposit every three years. Apple has paid a security deposit of ₹1.046 crore. The lease also included a revenue-sharing component, almost 2% of revenue for the first 36 months and 2.5% thereafter. However, revenue share payments are capped at twice the value of the applicable yearly minimum guaranteed rent.

According to media reports, in 2023 Apple leased several floors of Prestige Estates Projects’ commercial building, Prestige Minsk Square, in Bengaluru’s central business district on Cubbon Road, for 10 years at a starting monthly rent of ₹2.44 crore.

Real estate experts note that Foxconn’s facility in Bengaluru is already fueling demand for residential and commercial properties in Devanahalli, driven by rising employment opportunities and infrastructure development. Taiwanese electronics giant Foxconn's Bengaluru factory, its second-largest manufacturing unit, has commenced operation with production of iPhone 17 recently at a small scale, sources aware of the development told PTI.

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). 'Foxconn Bengaluru unit has commenced operation with the production of iPhone 17. This is in addition to the production of iPhone 17 at its Chennai unit,' a source aware of the development told PTI.