iPhone 17 sales frenzy hits Apple stores in India: A look at outlet sizes and their monthly rent
Today, Apple stores across country are bustling with people eager to pick up their desired iPhone17. Here's a glimpse at size of these stores, monthly rent
The much-anticipated iPhone 17 series sale has kicked off in India, sparking a frenzy at Apple stores with massive queues of eager buyers. From early morning, long lines formed outside stores as customers waited to grab the new iPhone 17, iPhone 17 Pro Max, and iPhone Air. Here's a glimpse at the size of these stores and the monthly rent they pay.
Apple’s Mumbai store
In December 2024, Apple India signed one of the country’s most expensive commercial lease agreements when it secured 6,526 square feet of space at Bandra Kurla Complex (BKC) in Mumbai for five years. The space, located in Maker Maxity-5, came at a staggering rental rate of ₹738 per square foot per month.
The five-year lease translated into a monthly outgo of ₹48.19 lakh, with Apple placing a hefty security deposit of ₹4.33 crore at the time of signing. The arrangement also included two lock-in periods, the first ending on December 31, 2027, and the second a year later, on December 31, 2028, ensuring stability for both the landlord, Agni Commex LLP, and the tenant, documents shared by Propstack showed.
Apple India has also leased 12,616 sq ft retail space in Mumbai’s Borivali suburb for ₹17.35 lakh monthly rent as it prepares to launch its second store in Maharashtra and fourth in the country, according to documents accessed by real estate data analytics firm Propstack.
Also Read: Mumbai real estate: Will the Apple store and Sky City Mall drive property prices in Borivali?
Bengaluru Apple store
Apple’s third store in Bengaluru’s Phoenix Mall of Asia in North Bengaluru’s Hebbal opened on September 2, marking the company’s third official store in India after Apple The Bengaluru store spans 7,997.8 sq ft under a 10-year lease signed in November 2024. According to documents accessed by Propstack, rent payments began in August 2025 at an annual ₹2.09 crore, with Apple placing a ₹1.046 crore security deposit.
Both rent and deposit will increase by 15% every three years.Alongside the fixed lease, Apple has also agreed to a revenue-sharing model, almost 2% of revenue for the first 36 months and 2.5% thereafter. However, revenue share payments are capped at twice the value of the applicable yearly minimum guaranteed rent, the document showed.
Apple has paid a security deposit of ₹1.046 crore, the document showed.
The landlord is Sparkle One Mall Developers Private Limited, the document showed.
Apple’s Delhi store
Apple’s store in Delhi is located in Saket at Select Citywalk Mall. It pales in comparison to the Mumbai one, which is sprawling at 20,000 sq ft of retail space over three floors in a mall in the commercial hub of Mumbai’s Bandra-Kurla Complex (BKC). The Delhi store is estimated to be around 8,400 sq ft in carpet area, and is located on the first floor, while the Mumbai store has three levels. Apple pays a rent of around ₹40 lakh a month for its retail store in New Delhi, lease agreement documents reviewed by Moneycontrol showed.
The location in a bustling mall also makes the Delhi store shorn of exclusivity. The company is paying roughly ₹42 lakh for 20,000 sq ft in Mumbai. In other words, the retail space in Delhi is more expensive than in India’s financial capital, according to this deal.
