Apple India has renewed the lease on its office in Mumbai's Bandra Kurla Complex, and has also expanded its presence there, according to property registration documents accessed by Propstack. The leased area is part of the Maker Maxity development, one of the most prominent commercial projects in the area.
While Apple India had leased the units on the fifth, sixth, seventh, and eighth floors of the building since 2021, it has expanded to lease an unit on the 10th floor of the building, as well as a terrace. The new lease component is valid from January 1, 2025, while the lease renewals come into force from June 2026.
Starting June 2026, Apple India is expected to pay the landlords, Agni Commex LLP, a rent of Rs 2.55 crore per month, translating to a per square foot-rate of Rs 660 per month. According to property brokers, the rate is higher than the average rentals in the area, which range between Rs 500-550 per square foot.
The rentals are expected to escalate by 4 percent every year through its 55 month tenure, according to the lease documents.
Moneycontrol has reached out to Apple India for comment on the matter, and the story will be updated once a response is received.
Continued expansion
Despite concerns regarding global trade wars, especially the US' 50 percent tariffs on Indian exports, Apple has continued to scale up in India, both in manufacturing through its partners, as well as in research and development functions and company-owned store additions.
In Hyderabad, Apple India expanded its development centre for Apple Maps earlier this month, leasing additional space of around 64,000 square feet, while it has also expanded its office presence in Bengaluru. As for company-owned stores, Apple has expanded beyond Mumbai and Delhi, and has now opened stores in Pune and Bengaluru as well. Another Mumbai store, at Oberoi Realty's new mall in Borivali (East), is expected to open soon.
Apple's key contract manufacturing partner Foxconn has commenced production of AirPods at its Hyderabad facility, meant for exports.
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