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Qatar National Bank has renewed its lease for 8,079 sq ft at Maker Maxity in Mumbai's Bandra Kurla Complex (BKC) for five years, starting at a monthly rent of INR 62.6 lakh, or INR?775 per sq ft. The bank has occupied this space since 2016, with previous rents rising from INR 381 per sq ft to INR 438 per sq ft in 2020. The new lease, starting 26 October 2026, includes a 4.5% annual escalation, ten car parking spaces, a security deposit of INR 7.51 crore, and a five-year lock-in, highlighting strong demand for premium office spaces in Mumbai.
Qatar National Bank has renewed its lease for 8,079 sq ft of office space at Maker Maxity in Mumbai's Bandra Kurla Complex (BKC). The lease is for five years, beginning 26 October 2026, with a starting monthly rent of INR 62.6 lakh, which translates to about INR 775 per sq ft. The agreement, registered on 29 October 2025, includes a five-year lock-in until 25 October 2031, a security deposit of INR 7.51 crore, and ten dedicated car parking spaces. Advertisement
The bank has been occupying the ground floor of 4 North Avenue since 2016, initially at INR 381 per sq ft per month. By 2020, the rent had increased to INR 438 per sq ft per month. The renewed lease includes an annual escalation of 4.5%, reflecting the sustained demand for premium office space in Mumbai.
Maker Maxity is located in BKC, a central business district hosting financial institutions, multinational corporations, and luxury retail. BKC has emerged as a prime banking and financial hub, attracting global lenders, investment banks, insurance firms, and government offices, including MMRDA, GST, RBI, and the Income Tax Department. The US consulate and luxury hotels like Sofitel and Trident are also nearby, enhancing the area's prestige.
Recent transactions in the vicinity indicate rising commercial rents. For instance, BNP Paribas leased 3,497 sq ft at Maker Maxity in August 2025 at INR 811 per sq ft per month, and JP Morgan pre-leased around 1.16 lakh sq ft in BKC at INR 595 per sq ft per month in June 2025. Analysts view the Qatar National Bank renewal as a sign of confidence in Mumbai's top-tier office market, with demand for blue-chip spaces consistently exceeding supply.
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