Apple has launched its fifth retail location in India, situated within Noida’s DLF Mall of India. The opening of this store has generated considerable excitement among the public, albeit with an impressive price tag. Lease information acquired by CRE Matrix and reported by Hindustan Times reveals the substantial monthly rental and long-term agreement Apple has established for this space.
According to the sublease documentation, Apple has secured 8,240 square feet within DLF Mall of India. This expansive area is distributed across six units, collectively creating a spacious environment for the Apple store. The size is comparable to the spaces observed at Mumbai’s BKC, Delhi’s Saket, Pune’s Koregaon Park, and Bengaluru’s Hebbal.
Regarding rental costs, Apple will pay Rs 263.15 per square foot, resulting in approximately Rs 45.3 lakh each month, totalling about Rs 5.4 crore over a year. The lease is locked in for a minimum of 11 years; however, the first year will be exempt from rent, according to reports.
It has also been noted that periodic rent hikes will occur. As specified in the agreement, rents will rise by 15% every three years. Apple reportedly finalised the lease in February 2025, with the store set to commence operations on December 11, 2025. As Apple broadens its retail footprint in India, the Noida establishment signifies another pivotal milestone in solidifying its presence in the nation.