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The per sq ft rent works out to around Rs 505, making it the most expensive commercial real estate lease deal so far, real estate experts said. However, the deal is an outlier in terms of commercial rentals, they added
India has been among the fastest-growing markets for Apple in the past few quarters, even as demand has slumped in many of its traditional markets.
The office space, spread 9,300 sq ft, has been rented for Rs 500 per sq ft per month. It is loacted at Maker Maxity. Brokers say this deal is an outlier as the average rent for Grade A commercial space in top-end commercial buildings in Bandra-Kurla Complex is in the range of Rs 260-320 per sq ft per month, and Rs 445-475 per sq ft in Maker Maxity.