Mumbai’s commercial real estate market remains one of India’s hottest, with Bandra Kurla Complex (BKC) at its center. Known for its world-class infrastructure and strategic location, BKC has become the preferred hub for multinational corporations, financial institutions, and high-end businesses.
This demand has driven premium pricing, making BKC one of the most expensive business districts in the country. A prime example of this competitive landscape is the leasing strategies of Apple and Tesla, which highlight how global brands maneuver for dominance in this space.
In 2022, Apple secured a prime location in Jio World Drive, embedding a clause in its lease to prevent competitors — including Tesla — from setting up shop in the same building. The move underscores Apple’s strategic approach to controlling its environment.
Tesla, however, found a workaround. The EV giant leased space in the adjacent Maker Maxity building, demonstrating its determination to establish a foothold in India’s burgeoning market.
Real estate analytics firm Propstack recently analyzed these high-profile leases, reinforcing BKC’s reputation as one of the priciest commercial districts in the country.
“Let’s dive into the lease details:
Apple: Leased a larger space at Jio World Drive with a revenue share component, resulting in an estimated rate of ₹600-650/sq ft/month. Tesla: Secured a smaller space at Maker Maxity without a revenue share clause but at a higher rate of ₹881/sq ft/month.
These leases underscore the immense potential of the Indian market and BKC’s importance as a hub for high-end consumption. The strategic moves by both Apple and Tesla are a testament to the intense competition for market share in India’s rapidly evolving economic landscape,” Propstack wrote in a post on X (formerly Twitter).
While Mumbai’s commercial real estate market sees periodic fluctuations, BKC’s ability to attract top-tier global players like Apple and Tesla reinforces its position as a premier business destination.