Apple India has signed a landmark 10-year lease for a sprawling 2.7 lakh sq ft office space at the Embassy Zenith building in Bengaluru’s upscale Vasanth Nagar. The deal reflects over ₹1,000 crore in total rental, parking, and maintenance outgo. Business Standard
Lease Terms & Strategic Expansion
- Location & Size: Apple will occupy floors 5 through 13 in the Embassy Zenith, covering approximately 268,737 sq ft (including chargeable areas) across nine floors
- Monthly Rent: ₹6.315 crore, with a 4.5% annual escalation, translating to an effective rate of ₹235 per sq ft per month.
- Additional Costs: Apple also paid a ₹31.57 crore security deposit, along with responsibilities for car park and common area maintenance (CAM), and stamp duty.
- Background Expansion: This marks Apple’s second Bengaluru office—its previous lease in 2021 was about 1.16 lakh sq ft at Prestige Minsk Square.
Why It’s Significant
This deal is among Bengaluru’s largest single-tenant commercial leases, highlighting the city’s growing importance as a technology, engineering, and innovation hub. The new facility is expected to house over 1,200 employees, advancing Apple’s strategy to strengthen its presence in India’s strongest tech markets.
Quick View: Apple’s Bengaluru Office Deal
| Aspect | Details |
|---|---|
| Lease Duration | 10 years (April 2025 onwards) |
| Total Space | ~2.7 lakh sq ft (Carpet: ~1.96 lakh sq ft; Chargeable: ~2.69 lakh sq ft) |
| Monthly Rent | ₹6.315 crore with 4.5% annual escalation |
| Total Cost | Over ₹1,000 crore (rent + parking + CAM + stamp duty) |
| Security Deposit | ₹31.57 crore |
| Floors Occupied | 5th to 13th floors (9 levels) |
| Employee Capacity | Estimated 1,200+ employees |
Final Takeaway
Apple’s ₹1,000 crore lease in Bengaluru underscores its confidence in India’s strategic value—from innovation and engineering development to local retail expansion. This deal not only cements the city’s position on Apple’s global map but also signals renewed faith in expanding operations despite geopolitical friction.
