Apple India extends leases for its office in Bandra-Kurla Complex
Real Estate

Apple India extends leases for its office in Bandra-Kurla Complex

Apple India has extended its leases for its nearly 16,000 square foot office in Bandra-Kurla Complex (BKC) for another five years at higher rents.

The office is located on three floors of the 5 North Avenue tower, which is part of the Maker Maxity commercial project.

The company has renewed its leases on the 6th, 7th, and 8th floors of the tower through three agreements with landlord Agni Commex LLP.

The lease rentals have been set between Rs 400 and Rs 402 per sq ft per month, up from Rs 374 per sq ft per month previously.

Apple India has renewed its lease for its office on the sixth floor, which spans nearly 9,000 square feet and costs Rs 400 per square foot per month. This lease has a 55-month term that begins in mid-October and ends in May 2026.

According to documents obtained through real estate analytics firm Propstack, all three leases have a clause that allows rents to increase by 4% every year, and Apple has paid a security deposit worth nine months rent for each of these leases.

Apple has agreed to pay Rs 402 per sq ft in monthly rentals for its nearly 4,100-square-foot office on the seventh floor.

The lease for the 8th-floor office, which spans over 2,900 square feet, has been renewed at a monthly rate of Rs 400 per square foot.

The leases for the offices on the 7th and 8th floors will be for 60 months, beginning in June 2021 and ending in May 2026.

Maker Maxity, a project developed by the Maker Group, consists of five office towers as part of an integrated development that also includes a luxury mall and a drive-in movie theatre.

Maker Maxity is a high-end fine-dining complex located at the entrance to the Bandra-Kurla Complex.

Image Source


Also read: Major cities in India see surge in office leasing to 66% in FY21

Apple India has extended its leases for its nearly 16,000 square foot office in Bandra-Kurla Complex (BKC) for another five years at higher rents. The office is located on three floors of the 5 North Avenue tower, which is part of the Maker Maxity commercial project. The company has renewed its leases on the 6th, 7th, and 8th floors of the tower through three agreements with landlord Agni Commex LLP. The lease rentals have been set between Rs 400 and Rs 402 per sq ft per month, up from Rs 374 per sq ft per month previously. Apple India has renewed its lease for its office on the sixth floor, which spans nearly 9,000 square feet and costs Rs 400 per square foot per month. This lease has a 55-month term that begins in mid-October and ends in May 2026. According to documents obtained through real estate analytics firm Propstack, all three leases have a clause that allows rents to increase by 4% every year, and Apple has paid a security deposit worth nine months rent for each of these leases. Apple has agreed to pay Rs 402 per sq ft in monthly rentals for its nearly 4,100-square-foot office on the seventh floor. The lease for the 8th-floor office, which spans over 2,900 square feet, has been renewed at a monthly rate of Rs 400 per square foot. The leases for the offices on the 7th and 8th floors will be for 60 months, beginning in June 2021 and ending in May 2026. Maker Maxity, a project developed by the Maker Group, consists of five office towers as part of an integrated development that also includes a luxury mall and a drive-in movie theatre. Maker Maxity is a high-end fine-dining complex located at the entrance to the Bandra-Kurla Complex. Image SourceAlso read: Major cities in India see surge in office leasing to 66% in FY21

Next Story
Infrastructure Transport

Anand Vihar and Punjabi Bagh Flyovers Ready

Work on two major road infrastructure projects, the Anand Vihar flyover and the Punjabi Bagh flyover, has been completed but are yet to be opened for public use, according to officials. Located in highly congested areas, work on these projects started around two years ago. "The work on the flyover is complete and it is ready for opening," said a PWD official on Wednesday. According to sources, both the flyovers are likely to be inaugurated closer to the assembly elections in Delhi, scheduled for early next year. During the time the work was under way, motorists faced heavy traffic congestion ..

Next Story
Infrastructure Transport

RDSO finalise oscillation trials on Indore Metro

Indore Metro Phase 1 advances with the completion of oscillation and brake performance trials on the Yellow Line through three coaches manufactured by Alstom conducted by Research Design and Standards Organisation (RDSO). The oscillation trials were conducted with an aim to evaluate the stability and performance of the three different coaches during the movement, ensuring that the commencement of operation on Indore metro meets the safety and performance standard. The Emergency Braking Distance (EBD) was also reviewed by the RDSO team to evaluate the efficient stopping of trains during the op..

Next Story
Infrastructure Urban

IIT Guwahati develops sustainable geopolymer

A research team at the Indian Institute of Technology Guwahati, led by Prof. Anil K. Mishra from the Department of Civil Engineering, has developed an innovative solution to two major global challenges: industrial waste management and sustainable construction. Their research focuses on creating a geopolymer using industrial byproducts and waste materials, such as water treatment sludge (WTS), fly ash (FA), and ground granulated blast furnace slag (GGBS). “With the rapid pace of urbanisation and industrialisation, managing industrial waste has become a critical global issue," said IIT Guwaha..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000