JP Morgan Leases 1.16 Lakh Sq Ft in Sumitomo’s BKC Tower for ₹7 Crore Monthly Rent
US-based financial services giant JP Morgan has secured a 1.16 lakh sq ft lease in a commercial tower being developed by Goisu Realty in Mumbai’s Bandra Kurla Complex (BKC), with a starting monthly rent of ₹6.91 crore.
Real EstateLeaseJp MorganBkcSumitomoReal Estate NewsJun 25, 2025
The commercial tower is located on Plot No. 65 in G Block of BKC and is expected to be handed over by October 1, 2026. The long-term lease spans over 10 years and covers the 11th and 12th floors, each measuring 58,105 sq ft. The agreement specifies a starting monthly rent of ₹6.91 crore, translating to ₹595 per sq ft.
As part of the deal, JP Morgan has paid a security deposit of ₹62.23 crore. The lease also includes a 15% rent escalation every three years. The BKC lease also includes an option to extend the term by an additional 15 years, in three increments of five years each, the documents showed.
The Grade-A commercial building comprises six basements, a ground floor, 12 office floors, and a terrace. Emails have been sent to JP Morgan and Goisu Realty Private Limited seeking comment. The story will be updated if and when a response is received. JLL, the transaction advisor, declined to comment.
In 2022, JP Morgan leased 1.16 million sq ft of office space at Nirlon Knowledge Park in the Goregaon suburb of Mumbai for over 10 years with an option to extend for an additional 10 years. Sources told HT.com that while J.P. Morgan’s Goregaon facility serves as its back-office operations hub, the newly leased space in BKC is expected to function as its front office.
Property registration documents accessed through real estate data analytics platform Propstack showed that Goisu Realty Private Limited had acquired an 8,054-square-metre land parcel from The Bombay Dyeing and Manufacturing Company Limited in the city's Lower Parel area for ₹440 crore in 2024. The deal was part of a larger agreement to acquire 22 acres in Worli for ₹5200 crore.
In one of the biggest land deals in the Mumbai real estate market in recent times, the Wadia Group announced in September 2023 the sale of a 22-acre parcel at Wadia International Centre in Worli to Goisu Realty Private Ltd, a subsidiary of Japanese group Sumitomo Corporation, for ₹5,200 crore.
Sumitomo Corporation was established in 1919 and is spread across Asia, Europe, America, and Africa. It deals in infrastructure, real estate, media, metal products, transportation and construction systems, minerals, energy, and chemicals.
BKC has several government offices, including MMRDA, Goods and Services Tax (GST), Reserve Bank of India, Income Tax Department, and Family Court. The US consulate is also located there near the Jio Convention Centre. Luxury hotels such as Sofitel and Trident are also in BKC. Prominent companies with offices in BKC include Jio, Apple, Netflix, Google, Facebook, Amazon, the National Stock Exchange, Standard Chartered Bank, WeWork, CISCO, Pfizer, Spotify, and Blackstone.
Elon Musk’s Tesla has taken 4,000 sq ft of showroom space in India's costliest commercial district, Bandra Kurla Complex (BKC), in Mumbai, for ₹23.38 crore for five years. The showroom space has been rented out in a commercial building named Maker Maxity on North Avenue. Experts said the amount sets a national record in terms of lease rentals and makes it the most expensive auto showroom lease deal in the country by far.
Frequently Asked Questions
What is the total area leased by JP Morgan in BKC?
JP Morgan has leased 1.16 lakh sq ft in a commercial tower being developed by Goisu Realty in BKC.
What is the monthly rent for the leased space?
The starting monthly rent for the leased space is ₹6.91 crore.
When is the expected handover date of the commercial tower?
The commercial tower is expected to be handed over by October 1, 2026.
What is the security deposit paid by JP Morgan?
JP Morgan has paid a security deposit of ₹62.23 crore as part of the lease agreement.
What other significant land deals have been made in BKC recently?
In 2024, Goisu Realty Private Limited acquired an 8,054-square-metre land parcel from The Bombay Dyeing and Manufacturing Company Limited for ₹440 crore in the city's Lower Parel area, part of a larger agreement to acquire 22 acres in Worli for ₹5200 crore.
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