Mumbai real estate: Apple expands, renews office space lease in Bandra Kurla Complex
Apple has renewed and expanded its office lease in Mumbai’s Bandra Kurla Complex, increasing its footprint just as excitement builds for the iPhone 17 series
Apple has expanded its office footprint in Mumbai’s Bandra Kurla Complex (BKC), renewing a 31,023 sq ft space at a monthly rent of ₹2.04 crore, according to documents accessed by data analytics firm Propstack. Previously, the company had leased a 6,526 sq ft space at ₹50 lakh per month. The smaller space is priced at ₹768 per sq ft, while the larger one is leased at ₹660 per sq ft per month.
This expansion comes even as Apple kicks off sales of the much-anticipated iPhone 17 series in India, sparking a frenzy at its retail stores. From early morning, massive queues formed outside stores as eager customers lined up to get their hands on the iPhone 17, iPhone 17 Pro Max, and iPhone Air.
The company has renewed its lease for office units located on the 5th, 6th, 7th and 8th floors of Maker Maxity 4 owned by Agni Commex LLP. It has also signed a new lease for the entire 10th floor and terrace area for five years. Apple’s total chargeable area now stands at 37,549 sq ft. The company already occupies space on the 5th, 6th, 7th, and 8th floors since 2021, the document showed.
Overall, Apple will pay ₹2.55 crore per month for the space as of June 2026, with a 4% annual escalation built into the 55-month tenure. The deal also carries a security deposit of ₹22.76 crore, documents shared by Propstack showed.
An email query sent to Apple India Private Limited and Agni Commex LLP did not get any response. The copy will be updated if a response is received.
Apple’s offices and outlets in India
Apple India Pvt Ltd has leased around 2.7 lakh sq ft of office space in real estate developer Embassy Group’s project Embassy Zenith in Bengaluru for a 10-year term, with a total rental outlay of over ₹1,000 crore, setting a benchmark with lease rates touching almost ₹235 per sq ft per month, documents accessed by Propstack showed.
Apple India has also leased 64,125 sq ft of additional office space in Hyderabad for a monthly rent of ₹80.15 lakh for five years, documents accessed by Propstack showed.
Apple’s retail outlet at Phoenix Mall of Asia in North Bengaluru’s Hebbal opened on September 2, marking the company’s third store in India after Apple BKC in Mumbai’s Bandra Kurla Complex and Apple Saket in Delhi, both launched in 2023.
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.
