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Apple has leased 2.7 lakh sq ft of office space in Bengaluru for 10 years, with a monthly rent of Rs 6.31 crore starting April 2025.
Apple signs Rs 1,010 crore Bengaluru lease, retail store expansion next
Apple has leased nearly 2.7 lakh sq ft of office space in Bengaluru for 10 years, Moneycontrol reported, citing Propstack documents. The iPhone maker will take the 5th to 13th floors of Embassy Zenith on Sankey Road, Vasanth Nagar, at a monthly rent of Rs 6.31 crore (about Rs 235 per sq ft), Moneycontrol said.
According to the report, Apple has paid a security deposit of Rs 31.57 crore, with an annual rent escalation of 4.5%. The lease started on April 3, 2025 and was registered in July. Apple also paid Rs 1.5 crore in stamp duty, Moneycontrol reported.
Industry executives told Moneycontrol the move is part of Apple’s wider India push—scaling engineering and operations and expanding retail. In Bengaluru, Apple is gearing up to open its third India store at Phoenix Mall of Asia. As per Moneycontrol, Apple has leased about 8,000 sq ft from Sparkle One Mall Developers on a 10-year deal with annual rent of around Rs 2.09 crore. The lease was registered in November 2024, with rent starting August 2025, the report added.
It is part of Apple’s strategy to open four more India stores across the country. Earlier, Apple said it will open four more stores in India, located in Pune, Bengaluru, Delhi-NCR and Mumbai.
In April 2023, Apple opened its two stores in India, one in Delhi and the other in Mumbai.
“Future Apple Retail stores are planned in Bengaluru, Pune, Delhi-NCR and Mumbai,” the statement said.
US tech giant and iPhone maker Apple’s Indian arm has leased 12,616 sq ft retail space in Mumbai’s Borivali suburb to set up its second store in the metropolitan and fourth in the country.
The space in Sky City Mall at Borivali East has been leased through a long-term lease of 10 years and 10 months for a minimum monthly rent of Rs 17.35 lakh translating to Rs 138 per sq ft, according to real estate data analytics firm CRE Matrix. The company has also paid a security deposit of Rs 1.04 crore.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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