McKinsey Secures 10-Year Lease for 35,520 sq ft Office Space in Mumbai’s BKC

McKinsey and Company India LLP has renewed its office lease at Maker Maxity (1 North Avenue) in Mumbai’s Bandra-Kurla Complex (BKC) for 10 years at a monthly rent of ₹2.58 crore, according to documents accessed by Propstack. This deal is one of the most expensive office leasing agreements in the country’s financial capital.

The lease renewal date is October 1, 2026, and covers approximately 35,520 sq ft across the ground, first, second, and ninth floors of the building. The deal includes a rent of ₹759 per sq ft per month for the ground floor units, while the second and ninth floors command ₹705 per sq ft per month. The total monthly rental is ₹2.58 crore, as shown in the documents.

The lease tenure is set for 10 years, with a security deposit of ₹30.94 crore. The agreement also includes a 5% annual escalation clause, reflecting standard institutional-grade leasing terms in prime commercial assets, the document showed.

The current renewal includes three earlier lease agreements signed in 2021. The ground and first floor spaces, now renewed at ₹759 per sq ft per month, were originally leased at ₹463 per sq ft and had escalated to ₹562 per sq ft by 2025. Similarly, the second and ninth floor spaces—now priced at ₹705 per sq ft per month—were initially contracted at ₹410 per sq ft, rising to ₹498 per sq ft in 2025 through standard escalation clauses, documents showed.

A list of queries has been sent to McKinsey. The story will be updated if a response is received.

BKC is Mumbai's central business district (CBD) and a key hub for the Banking and Financial Services Industry (BFSI) and Fortune 500 companies. It ranks among India's most expensive commercial districts, hosting global giants like Apple, Netflix, Facebook, Amazon, Spotify, and Pfizer, alongside financial heavyweights such as the National Stock Exchange, Standard Chartered Bank, and Blackstone.

The commercial district also houses major co-working spaces like WeWork and tech firms like CISCO. Additionally, BKC is home to several government offices, including the Reserve Bank of India, the GST and Income Tax departments, and the Family Court. The US Consulate’s expansive campus further solidifies BKC’s status as a powerhouse of business and governance.

In February 2025, Google India Private Limited and Google Cloud India Private Limited were in the news for extending their Mumbai real estate office space leases in Bandra-Kurla Complex (BKC), the country's priciest commercial district. According to property registration documents accessed by SquareYards, the renewed leases are valued at ₹304 crore for five years.

Previous transactions in BKC have also been significant. Global banking giant BNP Paribas secured a premium office space at Maker Maxity, leasing a 3,497 sq ft ground-floor unit at a monthly rent of ₹811 per sq ft. The Mumbai real estate lease deal, valued at around ₹17 crore over five years, ranked among the highest-value commercial property deals in India, solidifying BKC as the country’s most expensive commercial district, documents accessed by Propstack showed. The monthly rent for the deal amounts to ₹28.36 lakh, with the space and three car parking spots rented, according to the documents.

In June, US-based financial services major JP Morgan Private Limited pre-leased 1.16 lakh sq ft in a commercial tower being developed by Goisu Realty Private Limited, a subsidiary of the Japanese firm Sumitomo Realty & Development Company, in BKC, for a monthly rent of ₹6.91 crore, documents accessed by Propstack showed. Located on Plot No. 65 in G Block of Mumbai’s Bandra Kurla Complex (BKC), the tower is expected to be handed over by October 1, 2026, they showed. The agreement specifies a starting monthly rent of ₹6.91 crore, translating to ₹595 per sq ft.

Among the other transactions, Bandhan Bank Ltd purchased 12 commercial units in INS Tower, BKC, for ₹135.64 crore, documents accessed by FloorTap.com, last year. The financial institution had bought seven commercial units on the second floor from Orbit Enterprises, spread across an area of 13639 sq ft, for ₹82.56 crore and paid a stamp duty of ₹4.95 crore on it. The documents were registered on January 31, 2024. The commercial space comes with 21 car parking spaces.