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Apple India has renewed its lease for multiple office floors at Maker Maxity in Mumbai's Bandra-Kurla Complex, while also acquiring additional space. The combined lease now spans five floors, totaling 37,549 square feet. The agreement includes a 4% annual rent escalation and a five-year lock-in period for the newly leased 10th floor and terrace area. This expansion reflects Apple's growing presence in India, aligning with its broader strategy to strengthen both retail and corporate operations across the country.
Apple India has renewed its lease for office units on the 5th, 6th, 7th, and 8th floors of Maker Maxity 4 & 5 North Avenue in Mumbai's Bandra-Kurla Complex. In addition to this renewal, the company has signed a fresh lease for the 10th floor and the terrace area, further expanding its footprint in the city. Advertisement
The total chargeable area now amounts to 37,549 square feet, spread across five floors. The monthly rent for this space is INR 2.55 crore, translating to a rental rate of INR 660 per square foot per month. The lease agreement is structured for a tenure of 55 months, with a 4% annual rent escalation. A security deposit of INR 22.76 crore has been paid to the lessor, Agni Commex LLP.
The renewal covers office units initially leased in 2021, while the new lease for the 10th floor and terrace commenced on January 1, 2025, with a five-year lock-in period. This expansion underscores Apple's commitment to strengthening its presence in Mumbai, aligning with its broader strategy to enhance both retail and corporate operations across India.
Over the past two years, Apple has opened its first two company-owned retail stores in Mumbai and Delhi, and has been ramping up manufacturing partnerships in the country as part of its global supply-chain diversification strategy. The company also operates a large office in Bengaluru, has leased over 64,000 square feet in Hyderabad, and maintains offices in Gurugram and Mumbai, reflecting its deepening investment in both customer-facing and back-end operations across the country.
This move is part of Apple's broader strategy to expand its footprint in India, a key market in its global operations. The company's increased presence in Mumbai's Bandra-Kurla Complex highlights the area's significance as a prime business district, attracting major corporations seeking to establish or expand their operations in the region.
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