The total lease expenditure over ten years, including costs for maintenance and parking, amounts to approximately ₹1,010 crore, with lease terms including a 4.5% annual rent escalation.

Apple also leased several floors at Prestige Minsk Square in central Bengaluru in 2023, starting with a monthly rent of ₹2.44 crore, including a revenue-sharing component.

Apple India has leased a record-breaking 2.7 lakh sq ft of office space in Bengaluru's Embassy Zenith project for 10 years, with a total rent exceeding ₹1,000 crore, setting a lease rate record of nearly ₹235 per sq ft per month.

In addition to the office lease, Apple leased about 8,000 sq ft of retail space at Phoenix Mall of Asia in North Bengaluru for ₹2.09 crore annually, with a 10-year term and rent escalation every three years.

The company’s Bengaluru expansion includes plans to open four new retail stores in Bengaluru and Pune, and to increase its manufacturing footprint in India, supporting its broader growth strategy.

The new Bengaluru office, located on Sankey Road in Vasanth Nagar, will occupy floors 5 to 13, covering approximately 196,179 sq ft of carpet area and up to 268,737 sq ft including chargeable area, potentially housing over 1,200 employees.

Apple has leased nine floors on Sankey Road from Mac Charles (India) Ltd, paying over ₹1,010 crore over the lease period, which includes rent, parking, and maintenance costs.

The building is owned by Mac Charles (India) Limited, affiliated with Embassy Group, and industry analysts suggest this could become one of Bengaluru’s largest single-tenant office leases.

Apple’s Bengaluru office lease is part of a broader investment in India, which includes its manufacturing partner Foxconn’s facility in Devanahalli, producing iPhone 17 and boosting local employment and real estate demand.

Apple is considering expanding its Bengaluru office by leasing an additional 1.21 lakh sq ft within the same building, potentially increasing its total office space in the city to nearly 4 lakh sq ft.

Apple’s ongoing expansion in Bengaluru, including previous leases at Prestige Minsk Square in 2021, underscores its commitment to growing manufacturing, retail, and corporate operations in India.