Apple Leases Retail Space in Mumbai’s Sky City Mall: Jeetendra Kapoor Sells Andheri Land for Rs 855 Crore
Apple India Pvt. Ltd. has entered into a commercial lease agreement for a premium retail space in Mumbai’s Sky City Mall, located in Borivali. According to documents provided by CRE Matrix, a real estate data analytics firm, the lease transaction was registered on May 28. Apple India has taken a 12,616 sq. ft. carpet area unit on lease from Incline Realty Pvt. Ltd., a Lodha Group entity.
The space is situated off the Western Express Highway in Borivali East, within the upscale Sky City Mall. The unit includes five car parkings, and the starting monthly rent is pegged at Rs 138 per sq. ft., translating to a minimum payable monthly rent of Rs 17,35,104.
Abhishek Kiran Gupta, CEO & Co-founder of CRE Matrix, commented, “From flagship stores in BKC and Saket to now leasing at Rs 138 per sq. ft. in Borivali’s Sky City Mall, Apple’s retail strategy in India is clearly evolving. This Rs 17 lakh-a-month lease with a Rs 1 crore-plus deposit shows that the brand sees value not just in prestige locations, but in high-potential suburban hubs. As real estate data analysts, we view this as a turning point—global brands are starting to chase footfalls and formats over just pin codes.”
In another significant property transaction, Bollywood actor Jeetendra Kapoor and his family’s firms have closed a major land deal in Andheri worth Rs 855 crore, as per property registration records reviewed by Square Yards. Two firms owned by veteran actor Jeetendra and his family, Pantheon Buildcon Pvt. Ltd. and Tusshar Infra Developers Pvt. Ltd., have sold a prime land parcel in Andheri to NTT Global Data Centers & Cloud Infrastructure India Pvt. Ltd. for a staggering Rs 855 crore. The land area is nearly 2.39 acres with a built-up area of 4,90,534 sq. ft. The stamp duty of Rs 8.69 crore was paid.
These transactions highlight the dynamic nature of the real estate market in Mumbai, with both international brands and local developers making strategic moves to capitalize on high-potential locations and emerging trends.
