iPhone maker Apple India Pvt Ltd has signed one of the largest office lease deals in Bengaluru, taking up 2.7 lakh sq ft at Embassy Group’s premium commercial project, Embassy Zenith, for a 10-year term valued at over ₹1,000 crore. The transaction, which sets a benchmark with lease rentals touching nearly ₹235 per sq ft per month, underscores the tech giant’s deepening commitment to India as both a talent hub and a key market.

The tech giant will pay a total of ₹1,010 crore over 10 years, inclusive of rent, parking, and common area maintenance charges, the documents showed.

The iPhones and IPads maker has leased nine floors, from the 5th to the 13th, with a carpet area of 1.96 lakh sq ft and a chargeable area of 2.68 lakh sq ft in Bengaluru’s Sankey Road from Mac Charles (India) Ltd. Apple will pay ₹6.31 crore per month, translating to ₹235 per sq ft.

Apple will receive a total of 362 car parking spaces as part of the deal, the documents showed.

The company has deposited ₹31.57 crore as security, and the agreement includes an annual rent escalation of 4.5%, the documents showed.

The company also has the option to lease additional space measuring 1.21 lakh sq ft across the ground to fourth floors, the documents showed.

Apple Inc has leased office space in a commercial project on a 2.3-acre land parcel, previously occupied by the Le Meridien hotel, overlooking Bangalore Golf Club and Cubbon Park. Embassy Group, which acquired the property years ago, is developing the tower comprising two basements, a ground floor, and 13 upper floors, the documents showed.

“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,” said Raja Seetharaman, co-founder Propstack.

In May 2025, Apple India leased 7997.8 sq ft of retail space in North Bengaluru’s upscale Phoenix Mall of Asia for an annual rent of ₹2.09 crore for 10 years, according to documents accessed by Propstack. The lease has a tenure of 10 years with a 15% escalation in both rent and security deposit every three years. Apple has paid a security deposit of ₹1.046 crore, the document showed.

The lease also included a revenue-sharing component, almost 2% of revenue for the first 36 months and 2.5% thereafter. However, revenue share payments are capped at twice the value of the applicable yearly minimum guaranteed rent, the document showed.