By Kailash Babar
Copyright indiatimes
ReutersApple renews, expands office lease in Mumbai’s Bandra-Kurla Complex
Apple India has renewed its lease for multiple office floors at Maker Maxity in Mumbai’s business district Bandra-Kurla Complex, while also taking up additional space in the commercial tower. The move reinforces the iPhone maker’s growing presence in the country’s financial capital at a time when its India business continues to expand.The company has renewed its lease for office units on the 5th, 6th, 7th and 8th floors of Maker Maxity 4 & 5 North Avenue. Alongside this renewal, the company has signed a fresh lease for the 10th floor along with the terrace area.The combined chargeable area now totals 37,549 sq ft, with the lease spread across five floors. Apple will be paying a monthly rent of Rs 2.55 crore as of June 2026, translating into a rental rate of Rs 660 per sq ft per month. The agreement is structured for a tenure of 55 months, with a rental escalation of 4% every year, showed the documents accessed through Propstack.The lease carries a security deposit of Rs 22.76 crore, paid to lessor Agni Commex LLP. While the renewal covers the office units first taken in 2021, the fresh lease for the 10th floor and terrace commences on January 1, 2025, with a five-year lock-in period.Live EventsApple’s decision to expand in Mumbai is in line with its larger push in India. Over the past two years, the company has opened its first two company-owned retail stores in Mumbai and Delhi, and has been ramping up manufacturing partnerships in the country as part of its global supply-chain diversification strategy.Apple’s presence in India now goes beyond its flagship retail stores in Mumbai and Delhi. The company recently opened a third exclusive store in Bengaluru and is planning more outlets in Pune, Noida and Mumbai suburb Borivali. On the corporate side, the company operates a large office in Bengaluru, has leased over 64,000 sq ft in Hyderabad and also maintains offices in Gurugram and Mumbai, underlining its deepening investment in both customer-facing and back-end operations across the country.ET’s email query to Apple India remained unanswered until the time of going to press.The commercial complex in BKC houses global financial institutions, consulting firms and multinational corporations and rentals at the property are among the highest in the country’s commercial office market, reflecting both the limited supply of Grade-A space in BKC and sustained demand from blue-chip tenants.With this deal, Apple has secured long-term occupancy in one of Mumbai’s most premium office addresses, underlining its commitment to expand its operations and brand footprint in India. Add as a Reliable and Trusted News Source Add Now!
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