Apple is strengthening its India retail strategy with the launch of its second Mumbai outlet — Apple Borivali. As the iPhone-maker prepares to open its sixth official retail store in India on February 26, Mumbai’s commercial real estate market is once again in focus.
Here’s everything you need to know about Apple’s Borivali store rent, floor location, total area, lease terms, and revenue-sharing agreement, along with how this move impacts Mumbai real estate trends.
Apple’s new store will be located at Sky City Mall, Borivali (West), Mumbai, on the ground floor — a prime high-footfall retail zone.
Why Borivali?
Rapidly growing residential catchment
Strong upper-middle-class consumer base
Excellent connectivity via Western Railway & Metro
High mall footfall compared to standalone retail
For brands like Apple, ground-floor mall spaces offer maximum visibility and impulse traffic — a key factor in premium retail positioning.
Apple Borivali Store Rent & Lease Terms
According to lease documents accessed by Propstack:
Total leased area: 12,616 sq ft
Annual rent: ₹2 crore
Monthly rent: Approx. ₹17.35 lakh
Lease commencement: May 8, 2025
Lease tenure: 130 months (~10 years 10 months)
Lock-in period: 10 years 10 months
Security deposit: ₹1.04 crore
Rent escalation: 15% every three years
Revenue Sharing Clause
- 2% of store revenue for first 42 months
- 2.5% from the 43rd month onwards
Landlord: Incline Realty Pvt Ltd
This hybrid rent + revenue-sharing structure reflects a modern commercial leasing trend in India’s premium retail spaces.
Apple’s Second Retail Store in Mumbai
The Borivali outlet follows the launch of Apple BKC, opened in 2023 at Bandra Kurla Complex.
Apple entered India’s physical retail market in April 2023 with flagship stores in Mumbai and New Delhi. The expansion accelerated in 2025 with new outlets across major metros.
Services Expected at Apple Borivali
Customers can expect:
One-on-one support from Apple Geniuses & Specialists
Dedicated business advisors
Complimentary “Today at Apple” creative sessions
Apple Pickup & Apple Trade In
Guided support for moving to iOS
Post-purchase setup & troubleshooting
This experiential retail model helps Apple differentiate itself from multi-brand electronics retailers.
Apple’s Previous Stores in India
1. Apple BKC – Mumbai
Located at Maker Maxity-5, Bandra Kurla Complex:
Area: 6,526 sq ft
Rent: ₹738 per sq ft per month
Monthly rent: ₹48.19 lakh
Security deposit: ₹4.33 crore
Lease tenure: 5 years
Two lock-in periods ending in 2027 and 2028
Landlord: Agni Commex LLP
This was among India’s most expensive commercial retail leases.
2. Apple Saket – Delhi
Apple’s Delhi outlet is located at Select Citywalk Mall in Saket.
Store size: 22,000 sq ft
Initial rent: ₹40 lakh per month
This remains one of Apple’s largest stores in India.
3. Apple Bengaluru – Phoenix Mall of Asia
Apple opened a store at Phoenix Mall of Asia on September 2.
Area: 7,997.8 sq ft
Lease: 10 years
Annual rent: ₹2.09 crore
Security deposit: ₹1.046 crore
- 15% escalation every three years
What Apple Borivali Means for Mumbai Real Estate
Apple’s ₹2 crore annual lease in Borivali highlights several important real estate trends:
1. Suburban Retail Is Gaining Momentum
While BKC remains India’s premium commercial hotspot, suburban retail hubs like Borivali are becoming attractive due to:
Lower rental outgo compared to central business districts
Strong residential density
Rising purchasing power
2. Long Lock-In Period Signals Confidence
A lock-in of nearly 11 years indicates:
Long-term market commitment
Confidence in Borivali’s growth trajectory
Stability for landlords and investors
3. Revenue Sharing Becoming Standard
Hybrid lease models reduce fixed-risk for tenants while ensuring upside for landlords — a growing trend in Indian mall leasing.
Final Thoughts
Apple’s Borivali store is more than just a retail launch — it reflects a calculated expansion strategy combining premium branding with suburban growth markets.
With:
• 12,616 sq ft prime ground-floor space
• ₹2 crore annual rent
• Long 10+ year lock-in
• Revenue-sharing clause
Apple is making a strong statement about Mumbai’s suburban retail potential.
As India’s premium retail ecosystem matures, global brands are clearly betting big on long-term urban consumption growth — and Borivali is now officially on that map.
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