Apple Signs 10-Year Deal in Borivali's Sky City Mall at ₹17.4 Lakh/Month

Apple’s aggressive retail push in India has taken another leap with its latest leasing of a premium commercial unit in Borivali East, Mumbai. This strategic move reflects the company’s intent to strengthen its offline presence in key suburban markets alongside its flagship city stores.

Apple Expands Offline Presence with Borivali Retail Lease

Apple India has secured a premium commercial lease for a retail unit at Sky City Mall, Borivali East, Mumbai, as part of its growing offline footprint in the country. The company has signed a 10-year and 10-month lease with a monthly rent of ₹17.35 lakh and a security deposit of over ₹1.04 crore. The lease, registered officially on 28 May 2025, spans a carpet area of 12,616 sq. ft. and includes five car parking spaces. The starting rent stands at ₹138 per sq. ft., with a scheduled escalation of 15% every 3 years. 

Apple will enjoy a 10-month rent-free period before rent payments begin. The licensor is locked in for the full lease duration, while Apple has a lock-in period of 6 years and 6 months. The agreement also features a revenue share clause, requiring Apple to pay 2% of quarterly revenue for the first 42 months, increasing to 2.5% thereafter. Additionally, Common Area Maintenance (CAM) charges are set at ₹75 per sq. ft.

About Sky City Mall

Sky City Mall, located off the Western Express Highway in Borivali East, is a strategic commercial hub with excellent metro and road connectivity. Apple’s move to expand in this suburban hotspot underscores its commitment to tapping into growing retail demand in India’s financial capital.

BKC Office and Bengaluru Store Strengthen India Operations

Earlier this year, Apple India Private Limited leased an office space measuring 6,526 sq. ft. at Maker Maxity-5 in Bandra-Kurla Complex (BKC), one of Mumbai’s most prominent business districts. The lease spans 5 years with monthly rentals of ₹738 per sq. ft., totalling ₹48.19 lakh per month, and Apple paid a deposit of ₹4.33 crore. 

Apple also leased an 8,000 sq. ft. retail space in Bengaluru to establish its third Indian store, following the launches in Mumbai and Delhi. This steady expansion signals Apple’s broader strategy of catering to India’s rising consumer base through direct retail presence in both metro centres and suburban growth markets.

Read More: Apple Shifts iPhone and MacBook Repairs to TATA Group in India!

Conclusion

With strategic leases across Mumbai and Bengaluru, Apple is steadily transforming its retail landscape in India. The company’s decision to invest heavily in premium and suburban real estate underlines its confidence in the country’s evolving consumer ecosystem.

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