Mumbai real estate: Qatar National Bank renews 8,079 sq ft BKC lease for ₹63 lakh monthly rent

Mumbai real estate update: Qatar National Bank has renewed the lease at Maker Maxity in Mumbai’s Bandra Kurla Complex (BKC) at ₹775 per sq ft

Qatar National Bank Q.P.S.C has renewed its 8,079 sq ft office space lease at Maker Maxity in Mumbai’s costliest commercial district, Bandra Kurla Complex (BKC), at a starting monthly rent of ₹62.6 lakh, according to documents accessed by Propstack.

Qatar National Bank has renewed its 8,079 sq ft lease at Maker Maxity in Mumbai’s BKC at a starting monthly rent of ₹62.6 lakh, documents accessed by Propstack show. (Representational Image)(Unsplash )

The renewal covers the ground floor of 4 North Avenue at a monthly rent of ₹775 per sq ft. The bank has occupied the space since 2016, when rent was ₹381 per sq ft per month, rising to ₹438 per sq ft in 2020 before the latest revision.

The new agreement tenure is for another five years, starting from October 26, 2026. The deal includes an annual escalation of 4.5% on the rent, along with a security deposit of ₹7.51 crore. The agreement was registered on October 29, 2025, the document showed.

The landlord for the property is Agni Commex LLP. The transaction has a lock-in period of five years until October 25, 2031, the documents showed. The renewal will also include 10 car parking spaces, it showed.

"This deal by Qatar National Bank underscores the robust health and confidence in Mumbai's prime commercial real estate. It reflects a strategic decision by a global entity to solidify its long-term commitment to a core business location. Such a high renewal rate in Maker Maxity confirms that the demand for blue-chip office spaces continues to dramatically outpace supply," Raja Seetharaman, cofounder of Propstack, said.

An email query has been sent to Maker Maxity and Qatar National Bank. The story will be updated if a response is received.

About BKC

Maker Maxity, located in Mumbai’s key central business district of BKC, is known for housing financial institutions, multinational corporations, and luxury retail, making it one of the highest-value commercial office markets in the country.

BKC has emerged as Mumbai’s leading banking and financial services hub, hosting global lenders, investment banks, wealth management firms, and insurance companies. Over the past decade, several multinational financial institutions have shifted or expanded operations to BKC due to its planned commercial layout, proximity to the airport, and premium-grade office supply.

It has several government offices, including MMRDA, Goods and Services Tax (GST), Reserve Bank of India, Income Tax Department, and Family Court. The US consulate is also located there near the Jio Convention Centre. Luxury hotels such as Sofitel and Trident are also in BKC.

Prominent companies with offices in BKC include Jio, Apple, Netflix, Google, Facebook, Amazon, the National Stock Exchange, Standard Chartered Bank, WeWork, CISCO, Pfizer, Spotify, and Blackstone.

Previous transactions in BKC

In August 2025, 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 has 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.