In a landmark real estate deal, Apple India Pvt Ltd has leased about 2.7 lakh square feet of premium office space from Embassy Group in Bengaluru for a 10-year term, with a total outlay exceeding ₹1,000 crore. The move underscores Apple’s growing long-term commitment to India as both a manufacturing hub and a strategic innovation center.
According to documents accessed by Propstack, the office space is part of Embassy Zenith, a commercial project in Bengaluru’s Sankey Road area. Apple has leased nine consecutive floors from the 5th to the 13th spanning a carpet area of 1.96 lakh sq ft and a chargeable area of 2.68 lakh sq ft.
The company will pay ₹6.31 crore per month, translating to a benchmark-setting lease rate of ₹235 per sq ft. The total lease value, inclusive of rent, parking, and common area maintenance charges, adds up to ₹1,010 crore over the decade-long period.
Key financial terms include:
- Security deposit: ₹31.57 crore
- Annual rent escalation: 4.5%
- Car parking allocation: 362 slots
- Additional option: Apple has retained the right to lease an extra 1.21 lakh sq ft across the ground to 4th floors if required.
The Location Advantage
The property sits on a 2.3-acre land parcel previously occupied by the Le Meridien hotel, overlooking Bangalore Golf Club and Cubbon Park. Embassy Group acquired the site years ago and has since developed it into a premium Grade-A office tower with two basements, a ground floor, and 13 upper floors.
The strategic location places Apple in the heart of Bengaluru’s central business district, providing proximity to India’s top tech talent, government corridors, and innovation ecosystems.
Symbol of Apple’s Confidence in India
Industry experts are hailing the deal as a vote of confidence in India’s market potential. Commenting on the development, Raja Seetharaman, co-founder of Propstack, said:
“Apple’s 10-year commitment for prime office space in Bengaluru highlights their immense confidence in the Indian market. This investment in talent and operations runs parallel to their manufacturing scale-up for iPhones with companies like Foxconn. Together, these moves solidify India’s crucial position at the heart of Apple’s global supply chain and innovation efforts.”
Apple’s Real Estate Expansion in India
This is not Apple’s first significant property lease in Bengaluru. Recent transactions point to a broader strategy of scaling operations across retail, corporate, and manufacturing hubs:
- May 2025: Apple India leased 7,998 sq ft of retail space at Phoenix Mall of Asia, North Bengaluru, for ₹2.09 crore annually on a 10-year term. The agreement includes a 15% rent and deposit escalation every three years.
- 2023: Apple leased several floors in Prestige Minsk Square on Cubbon Road, another prime location in Bengaluru, with a monthly rent of ₹2.44 crore.
Together, these deals signal that Bengaluru is Apple’s chosen operational headquarters in India.
The timing of this lease deal aligns with the commencement of iPhone 17 production at Foxconn’s new Devanahalli facility near Bengaluru.
Foxconn, Apple’s largest manufacturing partner, has invested $2.8 billion (₹25,000 crore) to establish the factory, which is now Apple’s second-largest facility outside China.
While initial production has begun on a small scale, sources indicate that Apple plans to significantly ramp up output, with projections to increase iPhone production from 35–40 million units in 2024–25 to 60 million units this year.
This growth has already boosted demand for commercial and residential properties in the Devanahalli region, fueled by rising employment opportunities and infrastructure development.
Apple’s India strategy is no longer just about sales, it is about manufacturing scale and global exports.
- In FY2025, Apple assembled 60% more iPhones in India, worth nearly $22 billion.
- CEO Tim Cook recently confirmed that a majority of iPhones sold in the US during June 2025 were manufactured in India.
- Exports from India touched 3.1 million units in March 2025, highlighting the country’s growing role as a global export hub.
By combining real estate investments, manufacturing partnerships, and retail expansion, Apple is building an end-to-end ecosystem in India.
Apple’s high-value lease at ₹235 per sq ft per month sets a new benchmark for commercial rental rates in Bengaluru, particularly in the premium office space category.
This could have a ripple effect on the city’s real estate sector, pushing up demand and prices in central locations while reinforcing Bengaluru’s status as India’s tech and innovation capital.
With Foxconn’s factory, Apple’s offices, and retail expansions, Bengaluru is now firmly positioned as the core of Apple’s India growth story.
Apple’s decision to lease nearly 2.7 lakh sq ft of prime office space for over ₹1,000 crore is not just a real estate move, it is a strategic declaration.
The tech giant is betting on India’s dual strengths: a vast consumer base and a capable manufacturing ecosystem. Alongside Foxconn’s new iPhone production unit, Apple’s Bengaluru expansion reflects a long-term vision to make India central to its supply chain, talent hub, and retail presence.
For Bengaluru, this deal reinforces its image as the Silicon Valley of India, a city that continues to attract the world’s most valuable companies.
