Apple India’s new office at BKC’s Maker Maxity sets a record for India’s highest commercial lease rental | Representational photo
Mumbai: In a landmark real estate transaction, Apple India Private Limited has secured a commercial office space at the prestigious Bandra Kurla Complex (BKC) in Mumbai, marking the highest-ever commercial lease rental recorded in India. According to property registration documents accessed by Proptstack.com, the tech giant has rented 6,526 square feet of office space at a staggering monthly rental of Rs 738 per square foot.
The office, located on the 10th floor of Maker Maxity-5, includes an additional terrace area of 2,126 square feet. This premium space comes at a total monthly rental cost of Rs 48.19 lakh. Apple India has paid security deposit of Rs 4.33 crore for the lease. The transaction was officially registered on December 19, 2024, with a stamp duty payment of Rs 8.36 lakh and a registration fee of Rs 1,000.
The lease agreement between Apple India and Agni Commex LLP, the property owner, outlines a five-year tenure. The first lock-in period extends until December 31, 2027, followed by a second lock-in period ending on December 31, 2028.
This deal underlines the continued demand for premium commercial real estate in Mumbai, particularly in BKC, a prominent financial and business hub housing multinational corporations, financial institutions, and luxury commercial spaces. Experts believe that Apple’s significant investment highlights its commitment to strengthening its presence in India, one of the world’s fastest-growing markets for technology products.
Industry analysts note that the record-breaking rental rates reflect the prime location, world-class infrastructure, and increasing appeal of BKC as a commercial hotspot. Despite high costs, multinational companies remain keen on establishing a foothold in Mumbai, driven by the city’s strategic importance and dynamic business environment.
The Maker Maxity complex, where Apple’s new office is situated, is known for its premium-grade office spaces and modern amenities, making it a preferred choice for global corporations. With Apple joining the list of elite tenants, the complex further solidifies its reputation as a premier destination for high-profile commercial leases.
